Lloyds PBA provision up £837m

The Lloyds Banking Group have today announced a further £2.1bn addition to it’s PPI bill.

Whilst this is the headline figure, there is a hidden gem when you scratch the surface.

The group, who operate bank accounts under the guise of Lloyds, Halifax and Bank of Scotland and have been caught up in yet another mis-selling scandal at the expense of their customers.

Today they have confirmed they have set aside £837m to deal with complaints about packaged bank accounts.

Increasing bill

This is the biggest addition for this latest scandal to date, taking the Lloyds PBA provision to £1bn, and the overall bill to £1.6bn.

Whilst this is currently small scale compared to the huge amount set aside for PPI claims, the latest saga is gathering momentum.

About PBAs & Our Service

There are approximately 10 million PBA’s that remain active today, and with potentially millions more that have been closed.

Packaged Bank Accounts attract a regular monthly fee, generally between £5 – £30, in exchange for various products such as mobile, travel and breakdown insurance, to name a few.

Much like PPI, it appears banks have abused their position to mis-sale these accounts in order to generate obscene profits at the expense of their customers.

Not sure whether you qualify? Check here to see whether you may.

Start your PBA claim…

Option #1: Fill in the ‘Start Your Claim’ form on this page. We’ll send you out a form in the post for you to complete. Once we’ve received the form back in the freepost envelope we provide, we’ll make a start on your Packaged Bank Account claim.

Option #2: Click the ‘Download Claim Pack’ button. Simply print out the form, complete it and send it back to us. Our address and email address can be found here.

Our experts are on hand to answer any questions you have via telephone, email or our live chat facility.

So….why wait, let’s get started!

Lloyds PBA provision