A fan of MoneySavingExpert Martin Lewis has explained how they reclaimed £4,800 from their bank.
The MSE reader, known only as Julie, said she had tried to cancel a packaged bank account in 2010 - but was wrongly told she couldn’t.
After writing a complaints letter, she then received a refund of £4,786 just 18 days later.
Packaged bank accounts offer products such as breakdown cover, mobile and travel insurance in exchange for a monthly fee.
But these types of accounts aren't right for everyone - and if you were mis-sold, you may be entitled to money back.
For example, you may have been incorrectly sold your account if weren’t properly told what they were getting and paying for.
Or it could be that you didn’t realise you were paying a fee, or you couldn't use the insurance that came with the account.
In the case of MSE reader Julie, she was owed money back after being wrongly told she couldn't cancel the account.
“I tried to cancel my account in 2010 but was told 'it wasn't possible' by the bank,” Julie told MoneySavingExpert.
Have you reclaimed £1,000s from your bank? Let us know: mirror.money.saving@mirror.co.uk
“Then reading your article I realised that this just wasn't true.
“I followed your advice and used the template letter. 18 days later, I got a refund of £4,786."
How to reclaim packaged bank account fees
MoneySavingExpert has a checklist of all the different ways you may have been mis-sold a packaged bank account.
You may be owed money back if you fall into one of these scenarios:
You were wrongly told you had to get it
You couldn’t use the insurance
You were misled into taking out the account
The fee was added without you knowing
You tried to cancel but were forced to keep it
You were told it was the only way to get an overdraft
No one mentioned you needed to register your phone/car
You were told having one would improve your credit score
If you were mis-sold, you should get back all the fees you paid for the entire time you had the packaged bank account, plus interest.
How much you get will depend on how long you had the account for, so this could potentially run into the thousands if you had it for a long time.
To start a claim, you'll need to get in touch with the bank you had the account with and explain why you believe you were mis-sold.
There are free organisations such as Resolver that can help you word your claim.
They'll ask you questions such as which bank your account was with and why you think you've been mis-sold.
If the bank rejects your claim, or doesn't respond within eight weeks, you can take your complaint to the free Financial Ombudsman for free.
If you really don't need your packaged bank account, it is also worth cancelling this before starting your claim so you don't waste more cash.
