B of S bank charge

anne47

My daughter was charged £240 to close a billing account she had with Bank of Scotland .... can this be right ???

If anyone can advise I would be grateful . Thanks, Anne

meer53

Did she owe them £240 ?

Buzby

Never heard of a 'billing' account. What they can charge depends on the circumstances and what was owed - plus their tariff.

anne47

By billing account I mean it was an account set up for paying out her mortgage, utility bills and council tax , the money came straight out of her wages into this account . She was closing it because she and her husband built a house and they rented out the flat .
No she didn't owe them any money ... the teller said it would cost £240 to close down the account !!!!!!!!!!!!!!!!!!!

meer53

anne47 wrote: »

By billing account I mean it was an account set up for paying out her mortgage, utility bills and council tax , the money came straight out of her wages into this account . She was closing it because she and her husband built a house and they rented out the flat .
No she didn't owe them any money ... the teller said it would cost £240 to close down the account !!!!!!!!!!!!!!!!!!!

Has she asked them why she needs to pay this ? It doesn't cost money to close a normal account, you just need to repay any amount outstanding plus any fees or interest that are due.

Buzby

You don't give the actual account name - but many of these have special terms and if she had agreed to (say) pay minimum monthly amounts over a term, a charge can be made.

Only the T&C's will clarify the true costs payable for that product.

dunstonh

billing account sounds like the old budget accounts that banks offered. They are just a current account. A number 2 account that gets an amount transferred into it once a month to cover all the bills. Great way to run your finances. I do it myself. Although it doesnt sound like the OPs daughter was running it as it was intended as wages should not go directly into that sort of account. They should go into the main current account.

Unless we know what the £240 was for we cannot guess.