Business Account - reclaiming bank charges

Wicked_Sounz

Last year, I managed to reclaim over £600 from The Bank Of Scotland using the knowledge gained whilst investigating the charge rep-off.

Unfortunately, it was before the whole issue became highly publicised so it may be more difficult now.

After I wrote to the bank, they phoned me to make me an offer of £100 back from the £1100+ I was claiming. They said they did not have to make an offer as it was a business account. I calmly said, "see you in court then".
The offer immediately increased to £250.00. I stuck by my guns and repeated myself.
The lady then increased this to £450.00.

By this time, I knew I could get more, so I said I would meet them half way and accept £650 in settlement.

She called me the following day confirming they would pay up but I would have to sign a letter of non-disclosure and accept future charges. I just repeated, "see you in court then".

The money was in my account by the end of the day. The letter arrived but was never signed or returned.

Since then, the account went overdrawn again and two £39.00 (yes, £39.00) charges were applied. Strangely enough, they were credited back the following month with no intervention by myself whatsoever!!!!

I am now in the process of claiming charges back on my personal account but they have so far delayed some 70 days, so I have copied in the Ombudsman and advised the bank that court proceedings commence next week.

Good luck with all your claims.

Paul.

arkwright2

Great forum! Thanks to all who've posted some very useful information.

I've just one problem I'm hoping someone might be able to clarify for me.

I'm looking to claim back over £2000 in charges over the last 6 years on my business account. However, about half way through those 6 years, I changed from a sole trader to a limited company. Will I have to make 2 separate claims even if the bank account number remained the same?

Edinburghlass_2

For a business account you can claim back the same basic penalty charges as on a personal account but not things like overdraft arrangement fees, annual/monthly service charges for business accounts.

If you don't know what you are being charged for running a business account please phone your bank and ask for their charges leaflet.

Edinburghlass_2

gary1962 wrote:

I wonder if anyone could help i am claiming as a Ltd Company from the Yorkshire Bank
I requested a list of my bank charges as suggested more too save time looking through old statements
I got a call from my local branch suggesting that they charge £15 per statement becuase i am a business as they are not bound by the data protection act for Ltd companies
Is this just a stalling tactic
And would anyone help in the best way of going forward
They have credited my account with the ten pounds i had posted too them

Gary

I have no idea but ask the Information Commission.

bellerophon995

hi,
I was just wondering if the reclaiming of overcharged fees applies to a small business account?

Jacqz

Is it the same process for a business bank account as a personal account?

cool40

Hi, I disolved a Ltd business last year through a Insolvancy practitioner and the bank had a personal gtee from me for the overdraft which is over £15k. Would I still be able to claim back any of the charges leveid against me. This includes the agreed day to day charges for the overdraft. Or does claiming back charges only involve amounts charged for unauthorized breaches of going over OD limit and bounced cheques etc.

Also how can I avoid or get out of paying back the personal charge without going bankrupt, any ideas anyone.

iluvjanbaby

Hi there,
i've owned a convenience store for nearly 3 years and have business account with the Abbey National. The Abbey offer free banking but as a result they do not offer an over the counter deposit facility, it's all done via an ATM notes only policy. Another problem is that cash does not clear for 2 working days after the day you've deposited cash. The cash flow through my business is very tight and i have had many DD's and SO's returned because i have not had the cash cleared in time being charged £30/32 per return. The total amount of charges over 3 years must be 2000/3000. Also i tried to move business accounts a year ago but i'd get charged for every transaction and i'd lose my 5k overdraft. This means i can't afford Abbey to close my business account down as i'd cease trading. Has anyone successfully claimed back their business charges from the Abbey before without them closing their account or does any one know for sure whether Abbey would close my business account if i threatened legal action whilst trying to recover my bank charges over the last 3 years? Any advice would be greatly appreciated.
cheers

Edinburghlass_2

Abbey doesn't seem to be one of the banks who is closing accounts but there is that slight chance. Have a read through these previous posts on Business reclaiming and check out the Abbey thread to find out how other Abbey customers are progressing.

eden

Can anyone help me? I am looking at claiming bank charges dating back over last 6 years. Can I do so on a business current account held with nat west?