A mess created for me by my bank

gunter_2

see below edited

Cash_Flow

gunter wrote: »

Please someone give me some advice!! I had a business which was incorporated in June 2006> I proceeded to make my bank account a ltd account. I filled out all documents only to find that 3 months later nothing had been done. I then personally went to my business relations manager who went through it all with me and filled out everything again. I then found out some months later nothing had been done....reason being my name on my passport was different to the bank account name and for money laundering laws I would have to present my marriage cert. No probs i hand delivered the id and thought all done!! One thing bothered me is I noticed cheque books and statements still had my business name and trading as not the LTD name of the company. So before paying a vendor abroad I tang the business line and said this is a limited account isn't it? Reply was yes! So the vendor will see the LTD company name as the payee? Yes! So this set my mind at rest. Still cheque book and statements the same! So I went on line and changed the bank account name myself so that the stationary would follow. This had taken roughly 2 years and yes the internet let me change the name. But the statement stayed the same and the cheque book.
Unfortunately this year in April due to the recession I lost my business and liquidated and it was then that I found the bank had not changed the account. They see it as a sole trader account and I don't. We have been in talks for 6 months now. Initially I had my business manager round to my house to explain to me what had happened to the account and because I lost all trust I taped him. He said"I lost all of the papers and no we did not have a guarantee for the said account". Now he denies this and said that he did not have the right documentation from me to start the account. I went to his boss above him to see if i could sort this out and told them I have a tape and that I am treating this as gross negligence on the business managers behalf. He tried to lie his way out of this but I have the evidence in a drawer at home. Noe the way I see this is this. The account should of gone through and a guarantee was not asked for. So the account is a debt to the Limited company. Shall I go to court on this as now I have been served notice my the business manager with various threats of indebtness for 6 years ( funnily enough he is leaving the bank). There is also a personal loan attached to this account which I am more than happy to pay but they will not detach it from the account and now I have default notices ion this although there is no way of me paying into this loan. I have told them I accept responsibility for this entirely but they will not let me pay! So now I have 2 notices of indebtness and a deadline to pay it all with in 2 weeks as the letter says "we have reviewed the matter and feel bank/customer relations have broken down irretrievably and you should take your banking elsewhere". At no point have I buried my head in the sand! And I have tried to sort out a mess created by them for 6 months. The bank has misled me and are now placing fines and interest on the account amounting to 900pounds although I have not touched the account! The only people taking money from it is themselves!! Help me please!

I would like to help you but I can't read that^^^^^

noh

Cash_Flow wrote: »

I would like to help you but I can't read that^^^^^

Try this

gunter wrote

Please someone give me some advice!!

I had a business which was incorporated in June 2006.
I proceeded to make my bank account a ltd account. I filled out all documents only to find that 3 months later nothing had been done.
I then personally went to my business relations manager who went through it all with me and filled out everything again.
I then found out some months later nothing had been done....reason being my name on my passport was different to the bank account name and for money laundering laws I would have to present my marriage cert.
No probs i hand delivered the id and thought all done!!
One thing bothered me is I noticed cheque books and statements still had my business name and trading as not the LTD name of the company.
So before paying a vendor abroad I tang the business line and said this is a limited account isn't it? Reply was yes!
So the vendor will see the LTD company name as the payee? Yes! So this set my mind at rest.

Still cheque book and statements the same! So I went on line and changed the bank account name myself so that the stationary would follow.

This had taken roughly 2 years and yes the internet let me change the name. But the statement stayed the same and the cheque book.

Unfortunately this year in April due to the recession I lost my business and liquidated and it was then that I found the bank had not changed the account.
They see it as a sole trader account and I don't. We have been in talks for 6 months now.

Initially I had my business manager round to my house to explain to me what had happened to the account and because I lost all trust I taped him.
He said"I lost all of the papers and no we did not have a guarantee for the said account".
Now he denies this and said that he did not have the right documentation from me to start the account.

I went to his boss above him to see if i could sort this out and told them I have a tape and that I am treating this as gross negligence on the business managers behalf.
He tried to lie his way out of this but I have the evidence in a drawer at home.

Noe the way I see this is this. The account should of gone through and a guarantee was not asked for. So the account is a debt to the Limited company.
Shall I go to court on this as now I have been served notice my the business manager with various threats of indebtness for 6 years ( funnily enough he is leaving the bank).

There is also a personal loan attached to this account which I am more than happy to pay but they will not detach it from the account and now I have default notices ion this although there is no way of me paying into this loan.
I have told them I accept responsibility for this entirely but they will not let me pay!

So now I have 2 notices of indebtness and a deadline to pay it all with in 2 weeks as the letter says "we have reviewed the matter and feel bank/customer relations have broken down irretrievably and you should take your banking elsewhere".

At no point have I buried my head in the sand! And I have tried to sort out a mess created by them for 6 months.
The bank has misled me and are now placing fines and interest on the account amounting to 900pounds although I have not touched the account!
The only people taking money from it is themselves!!
Help me please!

Hazzanet

Cash_Flow wrote: »

I would like to help you but I can't read that^^^^^

Yes, it could do with a couple of paragraph breaks.

@ Gunter - Have you made a formal complaint in writing?

jonesMUFCforever

You would have had to have a completely new account if you had changed from sole trader to Limited company.
Personally I don't know of any bank that will let you randomly change the name of the account online without documentation - articles and memorandum of association to begin with, then bank mandate.

Over to you.............

noh

jonesMUFCforever wrote: »

You would have had to have a completely new account if you had changed from sole trader to Limited company.
Personally I don't know of any bank that will let you randomly change the name of the account online without documentation - articles and memorandum of association to begin with, then bank mandate.

Over to you.............

I think all that she changed was the name of the account as displayed in onlinebanking.

This had taken roughly 2 years and yes the internet let me change the name. But the statement stayed the same and the cheque book.

olly300

Every person I know who has opened up an account for a limited company has to have had proof that the company exists, as a limited company is a separate legal entity from any of their directors.

In addition banks have complaints procedures. If you noticed that the bank manager hadn't changed your account name why did you wait years before trying to do anything about it?

I suggest you find a logical reason for this.

Then find the complaints address of the bank - google it or look it up in the documentation they have sent you.

Write a letter to them with the title "Formal Complaint" outlining your complaint concisely (I suggest as your first post was unreadable you get someone else to proof read your letter). Send this to them by recorded delivery so they cannot deny receiving - well they can be they will not be believed.

As the account was not set up for a limited company after 8 weeks you can take your complaint to the Financial Ombudsman Service.

gunter_2

Many apologies to you all for my eager post! Yes I am guilty! I didn't even read it back and I do sound like a lunatic. This is commonly known as busy Mum panicking and trying to sort out life in between working as full time creative director and making sandwiches etc!!

I am so worried that grammar and creative writing skills have taken a backseat! The issue here is not ones ability to write a good story though is it?

Now the facts are this. The bank did obtain all documents from me for the bank account. I did not realize it would be a completely different account, I was told by my Business Manager that the account would be transferred into a LTD account. Now I know this is incorrect. I am aware, now, that a completely new account was required.

I believed a big corporation would not lie about things such as "Is this a LTD account under the name of

---

---

---

." The answer was yes twice. Why would I think there was a problem? I asked about the chq book and statements and was told this is just an admin problem.

Yes I do know now it is illegal to write cheques for a Limited company on cheques which are sole trader cheques. Yes I am stupid not knowing at the time that this was a big problem.

I am still in a pickle. My life all over! Much haste in everything and no time to read between the lines researching the laws on corporation. Or proof read threads on the internet!! I did not incorporate with the intention of liquidating my small business hence I didn't think it was a big deal. Yes it is a big deal and I am a very silly girl.

Please note: I changed the name on the account as a last resort on the internet because i believed the account was already LTD. I did not change the name on the account to perform a DIY transfer! I'm not that daft!! The name change was to bring on the correct cheque book etc.

However I still need some advise even if I am a bit thick, ignorant and illiterate!

gunter_2

Yes I have made a formal complaint to the Ombudsman. I have had a meeting with my Business Managers Director and have the complaint logged to him by means of e mails, ongoing.

I have contacted the citizens advice bureau too.

gunter_2

Also a message to Noh. Thank you for taking the time to edit my thread. You must be super human, a wonder act! How do you have time to do things like that? You made me envious of your organised, informed way of life. I am your true opposite.

jambosans

gunter wrote: »

Also a message to Noh. Thank you for taking the time to edit my thread. You must be super human, a wonder act! How do you have time to do things like that? You made me envious of your organised, informed way of life. I am your true opposite.

How rude. Others pointed out your entry was difficult to read due to a lack of proper paragraphing. It only takes a few strokes of the return key and hey presto, you have grasped the basics of good grammar.

Noh paragraphed your entry so other readers could easily understand the various points. If you resort to being rude and sarcastic, as a new member, you will receive very little help from the community.