Business Account - reclaiming bank charges

mon1o

Paula it depends which letter you sent them. If you sent them the same letter as you would for a current account then they are right as you cannot reclaim your charges under consumer law (sorry cant remember exact details). On the consumer action group website i think there is a letter quoting something else which means you can certainly claim your business account charges. As for your other points, if i were you i would make an appt with your business banking manager asap and discuss the issues as to why they are closing your account. If it is purely because you wish to reclaim your charges then as far as i am aware it is not good practice but there is no law stopping them closing your account so i would open another account elsewhere ( a parachute account i believe this is called, sorry im still learning the lingo lol)

Hope this helps
Monica xx

emv

I recently went overdrawn with a business account & have been charged two lots of £30 fees for one transaction - the cheque I had written was paid & my account was back in credit the next day as a deposit had gone in. I haven't received a letter so I don't know what the charges are for - can I reclaim them?

leicsmarkyr

Can you make a claim for fees on a business account for going overlimit and cheque referrals?

beck1

Hi
I was wondering if anyone could let me know what is defined as 'unfair' charges? I have a business account with RBS, and although I've never been charged penalty charges for going overdrawn or having cheques bounce etc, I DO get charges applied every month for paying in cheques and making transactions (I guess these are non-reclaimable charges). These charges are minimal as not a lot goes through each month - maybe £3 or £4 a month in total. What RBS then do every month is increase this amount to £10, as this is their minimum charge! This to me seems 'unfair', as it's money for nothing. Can I claim this extra £6 or £7 a month back?
Would be grateful if anyone was able to help, having been looking everywhere on threads and can't find anything similar to this specific question...

expat1873

my business is a limited company can i reclaim charges on business account - i have heard that it is tricky to do this because of the limited status is this correct any help would be appreciated thanks

leckie_2

I read and listen with great interest the success stories posted here! I have had success with claiming bank charges but I have seen very little mention of the charges that are incurred by that of sole traders or self employed persons using a high street bank buisiness account (lloyds). Do these accounts also fall into the same category of unfairness? Charges on these accounts can be maasive. Any one with any experience of lloyds buisiness?

mon1o

if you look on consumer action group you can find out how to claim from a business account. As far as i am aware the main difference (maybe the only difference!) is that you do not quote consumer law/regulations, but if im honest im not sure what category business accountr fall under. Sorry i cant be of more help!

Monica

Tozer

Law of penalties continues to apply but consumer protection legislation (e.g. UTCCR) do not.

Mark7799

leckie wrote: »

I read and listen with great interest the success stories posted here! I have had success with claiming bank charges but I have seen very little mention of the charges that are incurred by that of sole traders or self employed persons using a high street bank buisiness account (lloyds). Do these accounts also fall into the same category of unfairness? Charges on these accounts can be maasive. Any one with any experience of lloyds buisiness?

Are you referring to transmission charges (e.g. 50p per cheque paid in, £1 per £100 of cash exchanged etc) or fees for exceeding overdraft limits and having items bounced? You can try and recalim the latter but not the former.

dorien

I tried reclaiming business charges from Lloyds earlier this year. (for 6 years to 2005). The first reply they said they are not bound by "consumer law" so I wrote back stating I was claiming under "common law" they still had none of it, so case is now with the Ombudsmen .
Trouble is, the bank charges case that went before the Courts have said that Business Account Charges do not come under the same rules. It seems now that you can only TRY and claim any charges later than the last 18 months? It seems as if we now have little chance of reclaiming Business Charges. If anyone has any success from here on in, can they please let us know. Save us chasing as lost cause. Not much has been said about the Business charge part of the Court case,perhaps Martin can clarify the point for us.......
thanks.