Business Account - reclaiming bank charges

numptyfreak

A simple question - has anyone tried reclaiming business bank charges? It strikes me most of the post is talking abount personal accounts. We are a small business, in an overdraft situation, being slaughtered by interest and charges, in a never ending spiral. If it weren't for the horrendous continual charges, we'd have been debt-free years ago. Any thoughts out there? I'd be grateful.

1Saver

I don't see why you can't try and claim these back after all charges are charges whether they are business or personal

Clare11

Clare11 wrote:

Sent a letter on the 15th Jan requesting a full refund of bank charges listed from our business acccount.
Received a call from the Senior Branch Manager who wished to discuss the charges. Hubby replied he didnt wish to hold this conversation as his requirements were clearly stipulated in his last letter.
End of conversation.
I expect there will be a "nasty"letter in the post from the Northern Bank tomorrow

Another letter received today (20th Jan) as follows.
"Customer complaint 9th January 2007 and

subsequent letter of 15 January
Dear Mr XXX
I refer to your letter dated 15th January 2007 regarding your request for refund of fees in relation to your account previously held in XXX Branch.
All complaints are taken very seriously. I will respond to you as soon as my investigations are complete, and in any event, within the next 20 working days.
I have enclosed for your information a copy of our internal Complaint Handling Procedures "Putting Things Right For You." These procedures confirm how to pursue your complaint if you remain dissatisfied and how to refer your complaint to the Financial Ombudsman Service if we cannot resolve the matter.

No matter what they say, the Northern Bank have until the 30th Jan to settle in full or we start court action!!!

Clare11

numptyfreak wrote:

A simple question - has anyone tried reclaiming business bank charges? It strikes me most of the post is talking abount personal accounts. We are a small business, in an overdraft situation, being slaughtered by interest and charges, in a never ending spiral. If it weren't for the horrendous continual charges, we'd have been debt-free years ago. Any thoughts out there? I'd be grateful.

We are claiming for charges on our BUSINESS account with the Northern Bank and it was the same procedure for the personal account BUT the Letter BEFORE ACTION is worded slightly differently.
We used this link for the strongly worded letter.
http://www.penaltycharges.co.uk/forums/showthread.php?t=10933
There is a forum for help with claiming on BUSINESS accounts

Our penalty charges:-
Referral charges,
Unpaid charges
Warning Letter


I hope this helps someone.

trets77

Hi there , as you can from my number of post's i,m a regular moneysaver but i have no experiance of my own of reclaiming and have none of my own to pursue.

My dad is going to attempt to reclaim his charges from is Barclays Buisness account for the last six years, but is a liitle awkward with computers so has asked me to help with regards to posting on this forum.

can i just be double sure he can reclaim for penalty charges from his Barclays Buisness account and if so that the following are claimable.

Account control fees and payed referall fees both of which i believe are different Barclays bank speak for unathorised overdraft charges

and of course his bounced cheque charges and standing order charges.

he has only calculated 2001 (without intrest) so far and he has £1400 for just that year i think we may go over the £5k limit for small claims court with this one any advice on a large claim above 5K will be much appericated :think:

cheers guys

Edinburghlass_2

I would make sure with the bank exactly what the charges are for rather than guessing, just to be sure.

Have a read of this thread regarding claims of over £5,000.

JEEP_3

Does reclaiming charges apply to business accounts?

tonyucs

I am a soletrader and only have one business account from which everything is done. Is it still possible to pursue the banks to reclaim charges imposed on business accounts or is it just personnal accounts? Over the last 6 years of trading the banks have imposed various charges and having watch GMTV I feel really angry at the way I have been treated by Natwest and would greatly appreciate any advice. Many thanks

marybishop

We're a very small business too (just my other half and me) and I've been wondering about the charge we get every year for the bank to just 'renew' the overdraft - £110! What on earth do they do to warrant that much money except to say 'OK - you can carry on having the overdraft for another year'! Sorry, didn't mean to hijack your post but it makes my blood boil that small businesses who are hardly keeping their heads above water anyway get stung like this.

teena0410

Hi All,

I've had a good look round the site and CAG info with regard to claiming back business account charges, and just wanted to check the procedure. I have worked out the charges and looked in the libraries for an initial letter template, but can only find the LBA. Do I still send an initial letter for a business account, or just go straight in with the LBA?

Many thanks in advance for your help,

Tina