Barclays Premium Recovery for mis-sold bank accounts...Scam or not?

TonyTurbo78 · 2 Nov 2015 at 18:11

Hi guys.

Had a phone call this evening from a company called Premium Recovery, http://premiumrecovery.co.uk/barclays-packaged-bank-accounts/ telling me that I could be eligible for mis-sold account charges and could recieve all the money back plus 8% interest for all the years I have held the accounts. I think I had a Barclays Additions account from 2001, which was upgraded to a Additions Plus account in 2008, which I think I closed sometime around 2012. The phone call stated that I'd need to fill in a claim form and the necessary paperwork so they could look at my account history at the bank to determine how much I could expect back.

Is this a scam, is it safe to do this? Seems like a PPI type thing. Any thoughts, always worried about ppl on the phone asking about my bank details.

This never ends well · 2 Nov 2015 at 18:17

Scam

Edit other half got the same text and she dont even have a bank account.

Jono8 · 2 Nov 2015 at 18:20

What account charges did you receive?

Mynight · 2 Nov 2015 at 18:20

Lemme guess all they wanted was the credit card info?

zegna · 2 Nov 2015 at 18:20

TonyTurbo78 said:
Hi guys.

Had a phone call this evening from a company called Premium Recovery, http://premiumrecovery.co.uk/barclays-packaged-bank-accounts/ telling me that I could be eligible for mis-sold account charges and could recieve all the money back plus 8% interest for all the years I have held the accounts. I think I had a Barclays Additions account from 2001, which was upgraded to a Additions Plus account in 2008, which I think I closed sometime around 2012. The phone call stated that I'd need to fill in a claim form and the necessary paperwork so they could look at my account history at the bank to determine how much I could expect back.

Is this a scam, is it safe to do this? Seems like a PPI type thing. Any thoughts, always worried about ppl on the phone asking about my bank details.

You only had a pay for the premier account if you earned less than £150k IIRC.

Before it became free I never paid..

dowie · 2 Nov 2015 at 18:27

zegna said:
You only had a pay for the premier account if you earned less than £150k IIRC.

Before it became free I never paid..

[thinly veiled brag]

TonyTurbo78 · 2 Nov 2015 at 18:37

Mynight said:
Lemme guess all they wanted was the credit card info?

they didn't want no info over the phone.

Mynight · 2 Nov 2015 at 18:42

TonyTurbo78 said:
they didn't want no info over the phone.

O right. Well I'm shocked as it sounds like a standard scam.

However the company looks legit :eek:

.

Paranoia is best

.

mattyfez · 2 Nov 2015 at 19:27

At a guess it'll be a two bit no win no fee firm cold calling.

Not a scam in the Nigerian Prince sense but they'll probably take a hefty cut of any claim for doing work you can do yourself with a bit of research.

[TW]Fox · 2 Nov 2015 at 19:28

How were you 'mis-sold' this account? Presumably you knew what it offered and what it cost?

thebennyboy · 2 Nov 2015 at 20:00

el_dazza · 2 Nov 2015 at 21:00

You can claim this yourself without the need for a claims company. Find out how long you had it for, add it up and ask for it back if you were mis-sold it, a pushy salesman wouldn't leave you alone etc, same as the PPI clains basically and you'll get 8% stat interest from the date you started paying.

{SAS}TB · 2 Nov 2015 at 22:07

It's the "new PPI" claim for paid bank accounts like Barclays Premier and their equivalents

Probably the first of many like the PPI cold callers

Pez · 2 Nov 2015 at 22:13

{SAS}TB said:
It's the "new PPI" claim for paid bank accounts like Barclays Premier and their equivalents

Probably the first of many like the PPI cold callers

This - In the industry it's called PBA, or Packaged Bank Accounts.

Claims management companies are picking up the pace of sending mass emails out to pick up any potential customers.

mattyfez · 2 Nov 2015 at 22:16

[TW]Fox;28761326 said:
How were you 'mis-sold' this account? Presumably you knew what it offered and what it cost?

Apparently a lot of barclays customers just got it put on thier accounts, no signature etc. If you look on mse and similar sites. I'm talking about current account plus here.. Not business accounts.

Aldav · 3 Nov 2015 at 02:08

It might be a little strong calling it a scam, the normal interpretation of which would be a con, and almost certainly illegal.

However, an obnoxious form of pestering, unnecessarily cold-call marketing, yes.

I have a simple rule. If it's a company calling me and I haven't contacted them asking for information, then I'm not interested. I don't care who it is, or about what, or whether it's legit or an outright scam, I'm not interested. It's either a scam, or a cold call, and either way, I don't want to know.

Cosimo · 3 Nov 2015 at 07:18

TonyTurbo78 said:
they didn't want no info over the phone.

Where they going to come with some forms to sign?

{SAS}TB · 3 Nov 2015 at 20:14

Or, like me (whilst applying for my first mortgage) was told it would help my chances of obtaining the mortgage I was applying for, give me easier / preferential overdraft facilities and would shortly (at the time) be closed to anyone not earning £100k (I was nowhere near that) ................

dowie · 3 Nov 2015 at 20:21

[TW]Fox;28761326 said:
How were you 'mis-sold' this account? Presumably you knew what it offered and what it cost?

This

frankly the PPI claims need to be curbed too, if it was bundled in without people being properly informed then that is one thing but some people were simply sold the things after being informed of what they were paying for

The_Abyss · 3 Nov 2015 at 23:46

dowie said:
This

frankly the PPI claims need to be curbed too, if it was bundled in without people being properly informed then that is one thing but some people were simply sold the things after being informed of what they were paying for

Neither the regulator nor the ombudsman sees it this way, and the latter especially makes a habit of moving the goalposts and setting precedents. It is an occupational risk of being a financial services provider, and the risk premium of future unanticipated claims is being increasingly priced into new financial products. What was considered clear disclosure a few years ago is not considered acceptable today, and so it continues.