PBA Eligibility Checklist


If you’ve received a letter to let you know about claiming for mis-sold Packaged Bank Accounts (PBA), this page elaborates on what you need to know.

What Is a PBA?

  • PBA stands for Packaged Bank Account
  • A PBA is a bank account that offers additional perks over a regular current account
  • A monthly fee is paid for the packaged bank account

Do I Have a PBA?

  • If you received a letter from us stating that you do have a PBA, then yes, you do have one
  • If we haven’t explicitly advised you that you have a PBA, you can check your monthly statements — it will show a fee if you have a PBA
  • If you’re unsure, you can contact your bank and just ask them. They will confirm for you

Am I Eligible To Claim For My PBA?

This section is important. There are a few claims management companies that are ‘clogging the system’ by submitting thousands of inappropriate claims.

Check that any of the following applies to you:

  • You’re paying a monthly fee for your bank account but never agreed to it
  • You initially agreed to take out a PBA but were prevented from closing the account later on
  • You initially agreed to take out a PBA, but the price was later increased without you being informed or consenting to the increase
  • You were told you had to have a PBA in order to secure the loan, finance or overdraft that you were applying for
  • One or more of the perks associated with your PBA wasn’t suitable for you. For example, travel insurance that excluded certain age groups, which you fell into
  • Being lied to or misled by the salesperson. For example, being told it would improve your credit rating (it won’t) or being told you had to have it (see above)
  • You agreed to the PBA but weren’t told you needed to register your [car, phone, device] with the insurance company in order to activate the insurance

This is a summarised list of whether you are eligible to claim for your PBA or not. Click here for an in-depth article with more information on eligibility.

Is There A Fee For Help With My PBA Claim?

  • If your claim is successful (i.e. you win a refund), our fee is the same as it is for PPI claims, which is 25% of the refund amount, plus VAT.
  • If your claim is not successful (i.e. it turns out your PBA was not mis-sold) or you don’t actually have a PBA, you pay nothing.

What Information Is Needed To Get My PBA Claim Started?

Unlike PPI claims, you don’t need to provide endless reams of information to claim back your money from mis-sold PBAs. You just need to let us know:

  • The name of your lender
  • The sort code, and
  • Your account number

If you decide to claim PBA through us, you will be sent a Letter of Authority (LoA) to sign. Signing your letter of authority is essential as it gives us the authority to act on your behalf.

What Will Happen To My Account After I Claim?

If your claim is successful, your account will automatically be downgraded to a regular current account. There won’t be anything for you to do as it will happen automatically as part of the claim process.

You won’t need to fill in any forms or go into your branch or spend hours pressing a bunch of numbers in order to get through to a real human being! Your account will simply be changed to a regular current account without you having to do anything.

What Do I Need To Do?

You should have received a Letter of Authority (LoA) alongside the letter we sent you alerting you to the possibility you were mis-sold a PBA.

If you would like us to look into your packaged bank account to see if you are owed another refund, sign your LoA and return it in the pre-paid envelope.

With your signed Letter of Authority in hand, we will get in touch with you to go over a couple of details (that shouldn’t take more than ten minutes). We’ll then get to work and look into your PBA.

Once we have the necessary information, we’ll contact you to let you know what we found on your behalf.

Where Can I Learn More About PBAs?

You can get more information by reading the more in-depth article on packaged bank accounts here.


MARCH 23RD 2020

At this time we are continuing business as usual however our team will now largely be working from home. This limits our phone contact availability. Customer support remains available Monday to Friday but please email in to info@oraclelegal.com with your query. We aim to get back to you within 48 hours. On receipt of PPI refunds our fees remain payable and can be paid via our website www.oraclelegal.co.uk/payments/ or via BACS. We are also working on some other areas of potential claim for you in connection with your PPI and will be in touch shortly where applicable to present this to you.

IMPORTANT:The last day we can accept a new claim is Friday 23rd August – midday – to ensure the paperwork is properly processed and lodged with your lender before the cut-off time.