Business Account - reclaiming bank charges

Clare11

Lucky you! Our bank manager NEVER refunded any of the annual arrangement
overdraft fee on our business account . But then again we WERE with the Northern Bank! I hear its at the managers discretion as to how much he charges for that service. Your bank manager sounds ok.
Sadly the fee you speak off cannot be claimed back as its a service charge and not a penalty charge.
Yesterday I filed our claim in the small claims court online. The only charges claimed were Referral charges, inpaid charge and warning letter.
I hope this helps.
Kind regards
Clare

Clare11

Update.
Filed online for the small claims court against the Northern Bank with regards to our BUSINESS ACCOUNT which we held with them up until XX 04.(when we left them)
We are claiming for
referral charges, unpaid charge and a warning letter.
Its not a large amount by any means but it was our hard earned money.
Its a waiting game now to see their response.
I am glad they didnt settle in the 14 days because when you file against them in the small claims court you charge the statutory interest of 8%!!!
"Every little helps".......smiles

builder123

Hi all, new member here, great site with loads of good info.

I've searched the forum but cant seem to find anything relating to business banking. This is my situation - I have 3 x bank accounts with RBS, 1 x personal account, one sole trader account and one ltd company account. All are overdrawn to around £22K between them. All have been up and running in excess of 6 years and have been continually hammered by charges. I want to go for claiming my charges back, but wondered whether it would have any adverse effect on my business?

Do the same rules apply to business accounts re claiming charges back, or is it just for personal accounts? I am looking to change banks anyway so I'm not too bothered about falling out with them, although obviously I would rather not.

Another thing, is there a section on here for business banking or is it just personal? Does anyone know what banks are offering good deals for business acounts at present? If I re-claim the charges from my bank, will I struggle to get another account (business or personal) elsewhere because of claiming back?

Sorry for so many questions on my first post. Any help would be greatly appreciated. Thanks.

Edinburghlass_2

I'll move your post into a thread about business accounts where you should find a lot of your answers.

Now done.

All banks can and some do call in an overdraft and as you are running overdrawn it would probably be a good idea to start looking around for another bank and maybe not put all your eggs into one basket so to speak.

Have a read also of the thread dedicted to Royal Bank of Scotland.

http://forums.moneysavingexpert.com/showthread.html?t=306855

builder123

Edinburghlass wrote:

I'll move your post into a thread about business accounts where you should find a lot of your answers.

Now done.

All banks can and some do call in an overdraft and as you are running overdrawn it would probably be a good idea to start looking around for another bank and maybe not put all your eggs into one basket so to speak.

Have a read also of the thread dedicted to Royal Bank of Scotland.

http://forums.moneysavingexpert.com/showthread.html?t=306855

Thanks for that - 2 minutes, very efficient, cheers.

Leslie_Coverdale

I run a small business employing 3 people and have suffered many of these charges over the past 6 years. Can you tell me if the same rules apply for a business account?

fatwheels

Hi Im New To This But Could Anyone Tell Me If This Works For Hsbc Business Accounts Or Are Covered By Different Rules Thank You

ategid

fatwheels wrote:

Hi Im New To This But Could Anyone Tell Me If This Works For Hsbc Business Accounts Or Are Covered By Different Rules Thank You

I'd like to know aswell as I had a business that I finished in 2005 at the time I had been banking with Barclays. So I racked up loads of fees!

Edinburghlass_2

The basic charges can be reclaimed like returned dd/cheques etc but annual/monthly charges for having a business account can't be claimed.

holidayfund_2

Can Anyone Tell Me If I Can Reclaim Bank Charges On My Business Accounts?