Have you ever had a Packaged Bank Account with HSBC?
You could be owed £1,000s in compensation if HSBC mis-sold your Packaged Bank Account.
Many customers have been upgraded to a Packaged Current Account by HSBC. Usually HSBC charge a monthly fee for a Packaged Bank Account which can range from £5 to £25 per month in return for extra benefits in the form of insurances such as Travel Insurance, Breakdown Cover, Gadget Cover & Card Protection.
Many customers across the UK who were sold a Packaged Current Account from HSBC won't be eligible to use any of the Insurance services that that were offered because of pre-existing medical conditions or pre-existing cover elsewhere. HSBC may of enticed customers with an offer of a Loan, Mortgage or an Overdraft Facility for having a packaged bank account.
If you feel that HSBC has given you wrong Financial Advice with your Packaged Account then start you claim by completing the form opposite.
HSBC mis-sold their Packaged Bank Accounts in various ways:
Have you ever had any of the following:
- consumers were not made aware by HSBC that they may not be eligible to claim on one or more of the bundled insurance policies.
- HSBC sold a Packaged Accounts with bundled products that consumers would never need.
- Sales advisor pressured you into it, making you feel like you had no choice.
- HSBC may have informed a customer they needed a Packaged Bank Account to be eligible for credit.
Have HSBC mis-sold you a Packaged Bank Account?
- You did not ask HSBC to upgrade your account to a "fee" paying account.
- The costs/fees of the Packaged Bank Account were not clearly explained by HSBC either by an advisor or in writing.
- HSBC did not explain the Packaged Account was optional.
- You were led to believe by HSBC that you could have an overdraft, loan or mortgage if you had a packaged bank account.
- HSBC did not ask about any pre-existing insurance policies you already had in place.
- HSBC upgraded your account without your knowledge.
- HSBC did not explain all of the additional products that were inclusive of the packaged account.
Your Entitlement
If any of the above reasons for complaint are relevant, you could be entitled to:
- Refund of premiums from HSBC that you paid for the package current account.
- Compensation interest at the rate of 8% per annum on the refunded premium.
