Business Banking charges - I don't need a business account!

Websean

Hi everyone, I'm new to the forum and I've had a look but couldn't find anything relating to this - apololgies if I've missed it though.
I've run a small business for the last 16 years and about 10 years ago I decided to buy my business premises. Prior to that I just ran the business through my brclays current account. (Very few transactions, no need for card machine etc).
10 years ago I had never had any type of loan and found it quite difficult to provide any credit history.
I used an independant financial advisor who found me a mortgage or rather business loan through Yrkshire Bk. This was over a 10 year period and is soon to be paid off.
One of the stipulations of the loan was that I carried out all my business banking with them, which I have done up to now.
For the last 10 years, Ive thought "I can't wait for this mortgage to finish so I dont have to keep paying these business banking charges" (average £25 per month - often £35).
Other than the loan, I don't receive any benefit through having this business account, I dont have an overdraft or use a card machine. I just have the mortgage on the property.

Recently, my partner had some success with reclaiming PPI charges from her bank through MSE's downloadable questionaire. (£2000 reclaimed). That got me thinking and over the weekend I filled one out with regard to reclaiming term assurance policy that Yorkshire insisted I took out on this loan. Now I'm wondering if they were wrong to insist that i did all my business banking through them considering I've never asked for any kind of financial help other than the mortage.

I have all documentation including the original morgage offer that stipulates I both take out this useless insurance policy and business bank through them.

£25 - £35 per month bank charges over 10 years is quite a lot!

Do you think I have a case in asking for this money back?

Any help would be appreciated.

dunstonh

That got me thinking and over the weekend I filled one out with regard to reclaiming term assurance policy that Yorkshire insisted I took out on this loan. Now I'm wondering if they were wrong to insist that i did all my business banking through them considering I've never asked for any kind of financial help other than the mortage.

Term assurance is not PPI. So, you wouldnt expect a PPI complaint to succeed with it. Unless you had no financial dependants or you are immortal, then its hard to see how a complaint would succeed.

They are allowed to insist on terms for a mortgage.

Do you think I have a case in asking for this money back?

Nothing you have said suggests you have any grounds for complaint.