MISS-SOLD BANK ACCOUNTS

What Is a Mis-Sold Bank Account?

Many high-street banks encouraged or pressured customers into opening “packaged” or “premium” accounts. These accounts came with a monthly fee — often between £10 and £30 — in exchange for a bundle of additional benefits.

Common extras included:

• Mobile phone insurance
  Meant to cover repair or replacement if your phone was lost or damaged — but often limited by exclusions, excess fees, or models not being covered. Many people already had insurance elsewhere, making this redundant.
• Breakdown cover
  Usually advertised as roadside assistance or vehicle recovery — but in many cases, it didn’t apply if you were already covered by a car insurer or had limitations on age/type of vehicle. Some accounts charged customers who didn’t even drive.
• Travel insurance
  Often marketed as comprehensive, but excluded people over a certain age or those with pre-existing medical conditions. Many customers couldn’t use it, yet still paid monthly fees.
• “Priority” customer service
  This vague benefit was sometimes just a marketing term. In practice, it rarely meant better service or faster support — just a label to justify the monthly cost.

In many cases, bank staff failed to explain the true cost, eligibility criteria, or free alternatives. Customers were enrolled automatically, pressured during account upgrades, or misled about what they were paying for.

If you were charged for extras you didn’t need, couldn’t use, or didn’t knowingly agree to, you may have a claim for a full refund plus interest.

Why Were These Accounts Mis-Sold?

Packaged or premium bank accounts were often mis-sold to customers due to unfair sales tactics, misinformation, or failure to follow proper procedures. Here are the most common reasons these accounts were considered mis-sold:

• Failure to explain what was included in the account
  Many customers were not told exactly what they were paying for. Banks often listed vague “benefits” without clarifying what was actually included or how the services worked, leading to confusion and unnecessary charges.
• No check on eligibility for included insurance
  Insurance (like travel or phone cover) often came with age limits, medical exclusions, or model restrictions. Many people were not eligible to claim — yet they were still sold the package and charged monthly.
• Claiming it was a requirement for a loan or overdraft
  Some customers were wrongly told they could only access credit, loans, or overdraft facilities if they upgraded to a paid account. This is against FCA (Financial Conduct Authority) guidance and is a clear mis-selling tactic.
• Lack of consent or proper documentation
  In some cases, customers were switched to a paid account without their full understanding or without signed agreements. Others were pressured over the phone or in-branch without being given proper time to decide.
• Fees continued even when account was unused
  Many people continued to pay monthly charges even after they stopped using the account or moved to another provider — either because they forgot, weren’t aware, or didn’t know how to cancel.

If any of these apply to you, you may have been mis-sold — and could be entitled to a refund of all fees paid, plus interest.

Your Right to Claim

If you were misled, pressured, or charged for a packaged bank account you didn’t need or couldn’t use, you may have a legal right to claim back all the fees — plus interest. Here are the most common reasons people qualify for compensation:

• You didn't know about the fees
  Many customers were enrolled into paid accounts without clearly being told there would be monthly charges. If you weren’t fully informed — or were misled into thinking it was free — that’s mis-selling.
• Insurance didn’t apply to you (e.g. due to age or health)
  Travel or phone insurance often came with strict conditions. If you were too old, had pre-existing conditions, or didn’t meet eligibility, the cover was useless — and the fees unjustified.
• You never used the extras
  If you paid for benefits like breakdown cover or “priority” service but never used them — and especially if you didn’t ask for them — that’s a red flag. Many customers didn’t even know what they were paying for.
• You were pressured or misled into upgrading
  Some bank staff implied (or outright stated) that you had to upgrade in order to get a loan, overdraft, or better service. This kind of pressure-selling is against Financial Conduct Authority (FCA) rules.

The Financial Ombudsman Service (FOS) and other regulators have ruled in favour of thousands of consumers. In fact, UK banks have already refunded over £1 billion for mis-sold accounts.

If any of the above apply to you, you could be owed hundreds — or even thousands — in compensation.

How Much Can You Claim?

If your bank account was mis-sold, you may be entitled to a full refund of the money you paid — and more. Here’s what a successful claim could include:

• ✅ Refund of all monthly fees (often £500 to £3,000+)
  If you paid a monthly charge for a packaged or premium account, you can claim back the total amount paid — sometimes over several years. For many people, this adds up to hundreds or even thousands of pounds.
• ✅ Interest at up to 8% per year
  In addition to the fees, you may be entitled to “statutory interest” on the money lost — calculated at up to 8% per year. This is added to compensate you for being without the money during that time.
• ✅ Related overdraft and penalty refunds
  If the mis-sold account made you more likely to go into overdraft, or if you incurred bank charges as a result of the account’s structure or fees, those penalties may also be refunded as part of your claim.

Every case is different — but many successful claims result in £1,000–£4,000 in total compensation. We’ll calculate your potential refund as part of your free case review.

Don’t Miss Your Chance to Claim

Think it’s too late? It’s not. You can still claim compensation — even if:

• Your bank account has already been closed – You can still claim for mis-sold products even if the account is no longer active. Banks are required to review historic behaviour.
• The mis-selling happened several years ago – As long as you only recently discovered the issue or weren’t fully aware of your rights at the time, you may still be within the legal time limits.
• You’re no longer with the same bank – You don’t have to be a current customer to make a claim. Former customers have the same legal protections.

However, legal time limits do apply. If you wait too long, you could lose the right to claim — even if your case is valid.

Act now. A free claim review takes just minutes — and could put hundreds or even thousands back in your pocket.

🏦 Mis-Sold Bank Account Compensation Stories

“I was charged £15 a month for account extras I never used. Quaerens helped me recover over £1,200 in just a few weeks.”

— Claire P., Bristol

“The bank told me the account was mandatory — I later learned it wasn’t. Thanks to Quaerens, I received a full refund of £950.”

— Mark H., Liverpool

“I had no idea I’d been paying for useless insurance for years. Quaerens reviewed my account and secured £2,300 back from the bank.”

— James T., Manchester