PBA WISE - Frequently asked questions

Frequently Asked Questions

What is a packaged bank account(PBA)?

PBA stands for packaged bank account, a bank account that incurs a monthly fee in ex-change for a number of different ‘free benefits’ such as travel insurance, car breakdown cover and mobile phone insurance.

How was it mis-sold?

  • You were told that you had to get a PBA in order to get other financial products such as an overdraft, loan or credit card
  • You were told that a PBA was the only account available.
  • You were given a PBA without even knowing it.
  • You were never provided with a full explanation of the PBA or told about the full costs.
  • You were not asked if you had any pre-existing medical conditions that may have stopped you claiming against the insurance.
  • You were told that you could claim against the insurance policies when you could not.
  • You were never told that you had to register certain items for them to be covered by the insurance policies.
  • You were never told about an increase in the monthly fees on the PBA.

Note that this is not an exhaustive list and packaged bank accounts may have been mis-sold for a number of different reasons not listed here.

How much will it cost me to pursue?

Should your claim be successful we charge a fee of 25% plus VAT of the compensation. For example if we recover £1000 compensation, our fee would be £300 or if we recover £2000 compensation, our fee would be £600.

When will I receive my compensation?

The process of reclaiming your money can take as little as ten weeks. However, this can sometimes take longer depending on issues such as the nature of your case and who the lender is.

Can I claim if I no longer have the PBA?

Yes, provided the account has been closed within the last 6 years, you can still claim.

Alternatives to our service?

You are of course free to make the complaint yourself. You can do so for free by contacting either the people against who you wish to claim, or the Financial Ombudsman Service. If on the other hand you find the process unfamiliar or don't have the time to fill in all the forms and liaise directly with the company you are complaining to, we offer an alternative. There are further alternatives to using our service and you are free to shop around before signing any agreement with us. These alternatives include other Claims Management Companies, Solicitors and The Citizens Advice Bureau, and the Financial Ombudsman Service as outlined above.

Will I have to pay an upfront fee?

We will never ask you to pay any fees upfront.


Please complete this short form to start your potential claim.


“Everything was straightforward and extremely well explained to me. I would 100% recommend The Etico Group to anyone who feels they may have been mis-sold a packaged bank account.”

MR C from Wells


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