Barclays PBA Compensation Fund Receives £250m

Earlier today we brought you news of the Barclays PPI bill increasing by £600m.

This wasn’t the only big news following the release of Barclays quarterly figures to the city.

The much troubled bank has also announced its first amount of money set aside specifically to compensate customers for the new mis-selling scandal, packaged bank accounts (PBA).

First addition by Barclays

Many banks are trying their utmost to keep a lid on the mis-selling of PBAs, for fear of another scandal in the mould of PPI.

Unfortunately it appears their efforts will be in vain, as momentum grows in this new area of banks cheating their customers.

This first addition to the Barclays PBA compensation fund, takes the overall PBA bill for the banking sector to £538m.

In the grand scale of things this is tiny compared to the almost £30bn set aside for PPI, but this is a relatively new area of claim and it’s only a matter of time before it takes off.

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 Barclays 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 Barclays 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!

Barclays PBA Compensation Fund receives £250m