Martin Lewis has explained that banks mis-sold packaged accounts which means anyone who paid for them could get money back. Packaged bank accounts come with extras like insurance and perks like better saving rates, for a fee usually paid monthly.
In his latest newsletter, the Money Saving Expert wrote: "We often say they're the Marmite of banking. "While they can be good value for some, they were mis-sold on a mass scale to others."Like PPI, these accounts were mis-sold which means people were not properly told what they were getting and paying for.It might be that you're paying a fee without knowing or you couldn't use the insurance that came with the account.Get all the biggest Lifestyle news straight to your inbox.
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