Business Account - reclaiming bank charges

Edinburghlass_2

I would adapt the initial letter to cover your business account.

Jamangie

Hi all. My dad is self employed and is quite frankly in the poo with it as he is not being payed for jobs on time etc etc which in turn is costing him charges when he doesn't pay on time. He isn't the brightest star in the sky when it comes to paperwork and things so I thought it would cheer him up no end If I could help him claim back what is aprobably a mountain of charges from his bank. I'm hoping that someone will be able to tell me that the rules about reclaiming charges also extend to people that are in business. Can anyone tell me?
Many Thanks

no_one_home

I have a Natwest Direct Business bank account which I operate as a sole trader for my part time business. Can I reclaim charges on this kind of business account or is it personal account only?

thanks

Edinburghlass_2

I'll shift you there in a minute but see this thread...

http://forums.moneysavingexpert.com/showthread.html?t=270122

janebobward

I am trying to help my son-in-law reclaim charges, do the same rules apply to business acounts?
Has anyone tried this?
Great site...really impressed.

zohe

Hi Everybody

From the period 1999 to 2006 I ran my own business as a limited company.
I did not take much in the way of salary and "lived" fom my business account.

Business was up and down and Natwest charged me or rather my business account thousands of pounds in charges. I also took out lots of credit cards and loans in my personal name which were also hit with charges!

I eventually closed my business down....and am still left with over 100k debt in my name

My question is, can I reclaim the charges on my business account (a ltd company account) using Martins method? Would it be the same process?

They charged me thousands on my business account and if I could get even a little back it would help reduce my debt.

Thanks in advance for any replies

Z
:beer:

Rex_Mundi

Only the Ltd company can claim for the charges back. If the company isn't in business anymore, you can't claim back any charges on the companies bank accounts.

zohe

Rex_Mundi wrote:

Only the Ltd company can claim for the charges back. If the company isn't in business anymore, you can't claim back any charges on the companies bank accounts.

Dear Rex
Thank you for reply. The business is not running but I still have the bank account and the company.

From what you said I ahve to claim as the company, is that correct?

Will it be the same procedure as it is for an individual?

Thanks you
Z

Rex_Mundi

zohe wrote:

From what you said I ahve to claim as the company, is that correct?

Correct.

If you head over to https://www.consumeractiongroup.co.uk they have a bigger section on reclaiming business account charges. They also have templates tailored to businesses. You have to register to view the posts on the site (go to the forums), but this is free like this site.

Bag_Lady!

Please can anyone advise whether banks are allowed to charge an admin arrangement fee for the same overdraft annually? To date we have been charged and refunded this fee (£100) by our business bank manager, but he informed me that we will not be refunded this fee this year.