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Bank of Scotland - Free banking forever - NOT !
Biglox
Posts: 2 Newbie
(1st post, so no idea if I'm in the right place.)
A few years back I changed my business account with BOS to a new account they (BOS) were offering which was headlined "Free Banking Forever". Basically if you kept £5000 in the account you paid absolutely no charges whatsoever. If you went below £5000 they then charged you (About 50p) for each cheque you issued. Interest was also paid on the account so I thought I had really got a good deal. I normally write about 4 or 5 cheques a month so basically I was paying £2 or £3 pound a month in charges.
Last month they wrote to me saying that they will be imposing a blanket £15 charge on the account if the balance drops below £5000 at any time during the month. I phoned them to complain and even sent them a copy of the original leaflet "Free Banking Forever" but not suprisingly they didn't want to know and suggested I go back to my old account which of course means I pay a charge for absolutely everything. Admittedly it might work out a bit cheaper but I really feel I have been well and truely stuffed by the bank.
There are other "free" small business accounts out there but it makes it a bit more complicated when transfering money if you are not dealing with the same bank on the business side as well as your personal accounts.
Anybody else had the same treatment ?
A few years back I changed my business account with BOS to a new account they (BOS) were offering which was headlined "Free Banking Forever". Basically if you kept £5000 in the account you paid absolutely no charges whatsoever. If you went below £5000 they then charged you (About 50p) for each cheque you issued. Interest was also paid on the account so I thought I had really got a good deal. I normally write about 4 or 5 cheques a month so basically I was paying £2 or £3 pound a month in charges.
Last month they wrote to me saying that they will be imposing a blanket £15 charge on the account if the balance drops below £5000 at any time during the month. I phoned them to complain and even sent them a copy of the original leaflet "Free Banking Forever" but not suprisingly they didn't want to know and suggested I go back to my old account which of course means I pay a charge for absolutely everything. Admittedly it might work out a bit cheaper but I really feel I have been well and truely stuffed by the bank.
There are other "free" small business accounts out there but it makes it a bit more complicated when transfering money if you are not dealing with the same bank on the business side as well as your personal accounts.
Anybody else had the same treatment ?
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Welcome to MSE. I'm going to shift your post across to the Budgeting and Current Account board where this topic is currently being discussed.0
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