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Bank claim: Paid for current accounts get complaints

Complaints about paid for current accounts are on the rise.

The Financial Ombudsman Service reported that there has been a significant increase in the number of consumers complaining about current accounts that cost up to £40 per month.

It warned that this could lead to the next financial mis-selling scandal.

Customers were found to have had their current accounts switched to paid for accounts without prior knowledge and many said they only noticed when they were debited for it.

What's more, those who were aware that they had a paid for current account said they were unable to access the benefits that came with it as some found that they did not actually qualify for certain services, such as holiday or mobile phone insurance.

Yet this is not the only banking product that has been causing more problems for consumers of late. The ombudsman has a seen a significant increase in complaints against all sectors of banking, with payment protection insurance remaining the most complained about financial product.

Samantha Clarke

Samantha is a former banking assistant and has over ten years experience in retail banking.ADNFCR-2776-ID-801591377-ADNFCR

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