Business Account - reclaiming bank charges

Marie_Graham

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?

It is possible. I have just claimed on my son's behalf from Ulster Bank, and received £1,596. Of course, you do have to expect certain charges on a business account, but late fees etc. are reclaimable. For more detail see my message - I believe 17.2.08 - Bank Charges Success Stories.

Marie_Graham

It is possible. I have just claimed on my son's behalf from Ulster Bank, and received £1,596. Of course, you do have to expect certain charges on a business account, but late fees etc. are reclaimable. For more detail see my message - I believe 17.2.08 - Bank Charges Success Stories.<!-- / message -->

J_Sheppard

Hello from a first timer. I have just put in a claim for bank charges and have just been told by my bank that the 1977 Act does not apply to me because I am a business customer and the regulations and the Act only apply to consumers. Can this be right? As a struggling small business surely I am also a consumer and as entitled to reclaim bank charges as anyone else? Anyone having the same problems? Should I still proceed with my claim?

Orford

The bank is right, business claims cannot rely on consumer law. However that doesn't prevent you from making a claim.

see here for guidance:
http://www.consumeractiongroup.co.uk/forum/bank-templates-library/105213-guide-business-claims.html

chrissiet_3

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As well as my personal account I have a business account with HBOS. They've just offered me £900 (I've claimed over £5k) and I don't know whether to accept it. Does anyone know how the current situation impacts on small businesses? Also my bank and branch are in Scotland so subject to Scottish law. Any advice gratefully received.
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suzialwaysbroke

Cant help with Scotland, but claimed on personal ac & business ac with Nat West & got payout (in full) on business ac, personal ac has joined the great court case pending queue!!

HTH

Suzi

blaker

Does anybody have experience of claiming back 'unlawful' charges on a business loan? I'm acting for a client that took out a loan in 2005 and the terms said that an extenstion fee will be charged at a rate of £2000 per month if the loan is still outstanding after 23 November 2005. The bank never informed the client that the loan was due for repayment at 23/11/05 and started charging £2000 per month. The client thought the £2000 per month was normal interest and did not query the £2000 for some time, the fees have gone on for approx 2 years and they have taken approx £50,000. The bank called it an extension fee but surely its a penalty charge just by another name! Any ideas out there.

redballoon_2

hello all,

Can you reclaim charges on a business current account?

Jay974

i work for Abbey BB and we have been informed last week that business accounts are not forming part of the test case so yes, you'll be able to

Orford

Claiming as a business is the same process as claiming for a personal account - the main difference is you cannot rely on consumer law.

You can reclaim charges added to your account for a breach of contract, such a cheque referral, unpaid direct debits. You can't claim for standard business fees for running the account/fee for a particular service.