Business Account - reclaiming bank charges

mwmarczak · 24 September 2006 at 1:47PM

I have my business account with Bank of Scotland. I have recently worked out that they charged me nearly £250 for:
- charges for late payments, exceeding overdraft etc.
- additionally, on the top of interest for using overdraft they charged me £100 for using overdraft facility !!!

I sent them the template letter asking to refund me the money. However, they replied that they will not give it back as they are not regulated by the same authority as personal accounts are.

Does anyone know how can I approach them? Thank you in advance.

Regards

Marcin

inmypocketnottheirs · 24 September 2006 at 7:28PM

I would write back and tell them that they are incorrect. Punitive Fines are unlawful for breach of contract, whether for a business or personal account. Personally I would write back giving them 14 days to settle your claim or legal action will commence without further notice. Also let them know that fees and interest will be added.

They are trying it on.

Good luck!

mwmarczak · 28 September 2006 at 6:11PM

Thanks a lot. Are you sure that the charges are unlawful on business accounts too? I called them up they said that there is no way they will refund the charges as I signed an agreement with them.

Regards

Marcin

Rhodiola · 13 November 2006 at 10:00PM

Hello
I am wondering if anyone has attempted to reclaim charges on a business bank account? Is is even possible, or do business accounts not qualify?

Edinburghlass_2 · 13 November 2006 at 10:49PM

Rhodiola wrote:

Hello
I am wondering if anyone has attempted to reclaim charges on a business bank account? Is is even possible, or do business accounts not qualify?

As I'm still moving threads across into this board I might find more regarding business accounts but meantime I've merged your thread with this previous one.

Rex_Mundi · 13 November 2006 at 11:42PM

Definately worth a visit to the consumeractiongroup website. You can claim charges back from a business account, but the procedure is different. They have specific advice for business accounts on the other site.

fabianne · 14 November 2006 at 2:10PM

Hi
I am in the process of claiming back bank charges for a business account I hold with Barclays.I found fantastic advice,support,info and the whole step by step instructions on the consumer action group website-including spreadsheets for before and after court-they also have letter templates on there for you to send to your bank.It may be a lot of reading but it is worth it as you have to know what you are talking about and do things in a certain order.
There are loads of threads on there regarding business accounts and people in the same boat as you.
I claimed exactly the same was as a personal account-although I think if you are a limited company you should check out the info on the website too.
I have just filed a Moneyclaim form online after no luck with the bank refunding my £2500+ charges(that one was of the major reasons I closed my business down recently btw)If it gets to the Court stage-don't be afraid.They will have to pay your court costs plus interest if you decide to apply that(they do-why not?).Depending on the bank they will usually settle at the court door-no test case has yet gone through.
It is a battle and time consuming BUT it is YOUR money that they have taken by charged disproportionately high fees.How can they charge £35 for an automated charge??They can't-it is unlawful.
Good luck-get onto the CAG website and keep us posted on your progress!

Lizzy · 15 November 2006 at 12:50PM

Hi Fabi

We get about don't we, hee hee......this is where I lived before the CAG now I share homes with MSE, CAG and the ferret rescue website.

Good luck

Lizzy

SMARTY29A_2 · 21 November 2006 at 1:46PM

my husband has a business account with the RBS, can he re-claim charges on this business account, if so, what do we need to look for on the bank stattements?

any help appreciated.

thanks

wakster · 22 November 2006 at 12:04AM

fabianne wrote:

Hi
I am in the process of claiming back bank charges for a business account I hold with Barclays.I found fantastic advice,support,info and the whole step by step instructions on the consumer action group website-including spreadsheets for before and after court-they also have letter templates on there for you to send to your bank.It may be a lot of reading but it is worth it as you have to know what you are talking about and do things in a certain order.
There are loads of threads on there regarding business accounts and people in the same boat as you.
I claimed exactly the same was as a personal account-although I think if you are a limited company you should check out the info on the website too.
I have just filed a Moneyclaim form online after no luck with the bank refunding my £2500+ charges(that one was of the major reasons I closed my business down recently btw)If it gets to the Court stage-don't be afraid.They will have to pay your court costs plus interest if you decide to apply that(they do-why not?).Depending on the bank they will usually settle at the court door-no test case has yet gone through.
It is a battle and time consuming BUT it is YOUR money that they have taken by charged disproportionately high fees.How can they charge £35 for an automated charge??They can't-it is unlawful.
Good luck-get onto the CAG website and keep us posted on your progress!

Hey this sounds great you are almost in the same boat at myself, any chance of linking to the mentioned threads? PM me please:D

Dalt001 · 30 November 2006 at 1:24PM

Please excuse me if this question has already been answered but, if it has, I've not had any luck finding a specific answer.
Can I assume business accounts fall into this catagory as well? And,if so, is the procedure identical?
Thanks in advance.

Business Account - reclaiming bank charges

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