Complaints rise for packaged accounts
Packaged bank accounts offer extra benefits, such as insurance and cheaper overdrafts, but charge a fee in return. The Financial Ombudsman Service (FOS) said complaints about packaged bank accounts came in at around 1,000 a week in the six months to the end of June, according to figures released yesterday.
Around 25,500 people complained about the issue in the first half of this year – which is more than during the whole of 2014.
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Hide AdThe FOS added that complaints about financial products other than PPI jumped 45 per cent to 79,550 in the period, as a result of an increase in complaints about packaged bank account complaints brought by claims management companies.