If the answer is yes, there is an extremely good chance that the account was mis-sold to you and that you are entitled to compensation.
Packaged Bank Accounts, also known as ‘paid-for’ or ‘privilege’ accounts, charge a monthly or annual fee and are generally sold as an ‘upgrade’ account. Their main feature is that, along with normal banking, they come with a bundle of benefits, such as travel insurance, mobile phone insurance and breakdown cover.
On the face of it they appear to be a good product, but for many people these ‘benefits’ prove unnecessary and poor value for money. In some cases, holders of these accounts may not even be eligible for the insurance cover due to age or existing medical conditions.