Bank of Scotland Termination Fee

Petshopman

I'm in the process of changing banks to save my small business bank charges. I've been with Bank of Scotland for a number of years and use their Merchant Services for credit card transactions. I have just received a letter from BOS Merchant Services asking for £200 to close the credit card account, quoting clause 29.2.6 and enclosing a copy of the fee schedule (which indeed states - Termination Fee £200). It also states "may be charged....". They have a 3/5 day delay in their telephone enquires regarding account closures. My argument will be, as it states "may be" ; who decides on whether to charge or not, and on what criteria. Has anyone had any dealings with the BOS on this subject?

natweststaffmember

Ask BOS the question and then repost on here.

Petshopman

Thanks. I will do as soon as I am able to speak to them.

Carpartsman

Same problem. I've been with BOS for nearly 4 years. They have increased their fees so much recently that I decided enough was enough. I now find that they want to charge me £200, which they have now reduced to £100, to terminate the contract. On closer inspection of the contract there is no length stipulated and is therefore according to them completely open ended. I can't see any way out of it.