Business Account - reclaiming bank charges

Celicaman

Hi everyone, Does anybody know if you can claim unfair charges back on a business account. I know in the past i have been charged the usual £25 for going overdrawn on my business accounts and wondered if the same applies. Also, now they seem not to be charging a one off charge for going overdrawn but instead charge £4 per Day, which is probably their little way of stuffing us so we might not notice or am i just being Paranoid. I Had yearly meeting with Business manager last week and told him of my intent on claiming charges back on private account, he seemed to squirm ( What a warm feeling of satisfaction that gave, Ooohh i go weak at the knees thinking about it, revenge can be so sweet ) then said well he didnt have anything to do with private accounts and anyway business accounts are different ..................OR are they. Any body got any advice on making them squirm some more.:D
I am with HSBC and have just sent in a claim for £2250 on private account and look forward to hearing from them, Good luck to one and all.:beer:

comedybass

A relative of mine has a Ltd Company with turnover of £5m but they incurr huge bank charges and interest (charges are about £4k p.a.). He says that he signs an annual agreement with the bank and therefore cannot see that he has any room to complain. Any advice welcome please!

Edinburghlass_2

Different rules with a Ltd Company, I'll move you into a thread about business accounts where this is explained.

MICKBRO_2

Hi all,
could you tell me are the rules for claiming charges the same for business accounts ?
many thanks
mick

mduap

Thanks to your site I won over £1500 from Barclays before Christmas. I am now helping my brother claim money back on his business account (£4,200 to be exact!!). He sent them the letter asking for the money back and threatening court action and then yesterday he got a letter back from his local Business Manaager asking if he needed to explain to my brother the published business tariff ( Does anyone know what this is?) He also asked to meet him to discuss the matter further but he had no authority to fund any of the charges back. What should my brother do:
Ignore the letter and start court proceedings? Meet with the Manager and ask for the money back? Would it go against him if he didn't meet the Business manager? Do banks have the right to stop overdraft facilities at a moments notice or to close accounts?
My brother thinks that he is not entitled to claim because he is a business and should just accept these charges!! Can anyone put his mind at ease.

mandyh_3

Since 2001 our (NatWest) business overdraft has not been altered in any way - just renewed in the same terms. Each renewal (sometimes accompanied by a visit by the Manager, sometimes not) has cost us £290 a time. I have had a very recent success with clawing back £440 personal charges from RBS and, in their covering letter, is an interesting phrase:
'Whilst many of our services are provided without a corresponding charge, we do make charges when customers, by their actions, request an increase to or the creation of an overdraft in excess of their previously agreed limit'.
The question is this.... Our overdraft has not altered so how can they charge us when they have just said they only charge for alterations? How can that be fair? Make changes and we charge - don't make changes and we still charge!
Any thoughts?

LizzyBee

Hi, I am new to this site, although I have several posts on the CAG site. I have today submitted an N1 for £13.5K against Yorkshire Bank. It's all down to the wording you use in the POC. There is now some very comprehensive information on the CAG site regarding claiming back charges on your business account. I will try to update this post as well as the one I have on CAG.

Watch This Space!!!

fishpond

LizzieBee
What is the cag site, please tell?

fishpond

Its okay now, senior moment over, sussed.:rolleyes:

LizzyBee

OK Fishpon, I have a few of those my self lol.

The thread you need to look at is Bank Templates Library - Business Claims - basic Guide. You will find everything you need there (sorry not clever enough to put the link on).

Good Luck

Lizzy