Business Account - reclaiming bank charges

Beate

It's all just excuses to make you go away. My OH claimed for an old business account (sole trader) with Lloyds TSB and was refunded the whole amount after filing a claim on MCOL, right to the last penny of interest.

ken_and_dot

I tend to agree as there seem to be plenty of people on this site who have successfully reclaimed charges on business accounts. But the definition I quopted above is directly from the 1999 Act so would seem to have some validity. Consequently, I am unsure just how to respond. Should I just ignore their argument? If I am to rely on common law should I be able to refer to a precedent?

techspec

If you were buying goods for your business, than maybe the DTI are correct.

But you opened the bank account for your own personal use, to help you manage your business. It is in your own name, so i think maybe they are clutching at straws.

Maybe if BT tried to claim, that my be different, but i very much doubt it for a sole trader.

I claimed £3000 from Natwest, and that was for a business account. They paid the lot. I am sure that they would not have paid, if they did not have to.

I would soldier on.

elorac07

I am trying to reclaim bank charges on a closed hsbc business account, sole trader, bear with me I am new to this, The account has been frozen on my request after a series of events including a spell in hospital, 5 operations and a break in, the debt is over £8000 this includes my bank loan and has been passed to a debt collecting company, my business has concequently closed, had a bummer of a year 2006! does anyone know if I can still claim the charges back and does anyone know what arrangement fees are? renewal fees and what does DR interest mean? need a bit of help to get started, thanks for any help.

boozysuzy1

Hi, hope I'm in the right place.
I am trying to reclaim the unlawful bank charges on a Business account (Sole Trader), however Lloyds TSB have responded to my claim letter with a refusal to pay out as the Unfair Contracts Terms Act 1977 doesn't apply to Business customers and regulations only apply to consumers!

Are they trying to flannel me or is it different for Business accounts?

Please help!!!!

baileywoos

Jeepers this is getting really confusing for me now. lol.
Ok, I have my statements but they only go back 5 years. I live in scotland now but the account was held when I lived in England - can I claim the 6 years and use the english court system if necessary even though I live in scotland now?

I've also applied for my Lloyds CC statements but as of yet I've recieved nothing. It's been a couple of months and I've heard nothing despite a few letters to them and haven't recieved my postal order back either. What should I do?

pov

I've had a letter today regarding Barclays closed business account informing me that due to Terms and Conditions relating to the use of their account they are unwilling to refund charges as requested .Has anyone had this letter ? Does anyone have any advise ?

pov

Sorry to sound like an idiot but have searched all over and can't find any relevant information to my claim also can't stay on line long pay as go and costing fortune but has any one else had this letter and any info on where to go from here ? think i'm gonna have a breakdown !!!

Barclays have written to me regarding a closed business account saying they disagree with my claim as details of charges etc were provided in terms and conditions when account opened. In view of these comments are unwilling to refund ???? please help me

natweststaffmember

THe bank are correct but you have to argue a different way. I hope someone will respond today while i look at what exactly you need to argue with them.

Valencia

It's highly unlikely as HSBC are not refunding charges to business customers.

Arrangement fee - fee for setting up any borrowing (overdraft or loan)
Renewal fee - fee for renewing overdraft as overdraft is only in place for 12 months at a time
DR interest - debit interest - the interest you are charged when you are over your limit (i.e. in your overdraft)