Claiming back unfair business charges from bank? How?

bells_on_it

Hi I'm after some advice for my father, he had his own business 3 years ago which has now been closed. He feels that over the years he's has had some very unfair charges from the bank and has been exploited and when he closed his business and it was sold on for development they took more money from him. He's been wondering how he could go about getting this money back but doesn't know where to start? He doesn't have money to fight them and being older can't remember all details. We've been trying to help with advice but we can only suggest things like the financial ombudsman which we're unsure whether they will help with a business case?

Has anyone any advice even if where he should start? Thanks for your help

dunstonh

The banks won the court case on unfair charges. Complaints are no longer considered on that basis with the automatic response referring you to the court case. The FOS will not consider complaints on that basis either.

bells_on_it

Hi I don't think its as straight forward as that there were it of "other" charges and he doesn't know what some were for? Its more how do we investigate what they were for and whether they were justified. Who do we go to?

dunstonh

Hi I don't think its as straight forward as that there were it of "other" charges

There normally is with business accounts. They dont get free banking in the same way consumer accounts do.

Its more how do we investigate what they were for and whether they were justified. Who do we go to?

You look at the statements and compare the charges to the business tariff published by the bank.

bells_on_it

Hi thanks for your reply, he can't find most statements I guess his best start is to get the statements. These were huge fines etc as in thousands, I don't know enough about business to know where he stands. He's convinced he's been wronged but doesn't know how to find out. The business he had was a free house. It may be a lost cause but he doesn't have the capacity to investigate and I don't know where to start?

dunstonh

These were huge fines etc as in thousands

You really need to go through and itemise what the charges are for. Those for services (such as each cheque issued, each direct debit paid etc) are perfectly fine. They are normal charges in the running of the account.

Those made for bouncing or being over his overdraft limit cannot be challenged as unfair.

The banks do consider refunds on the basis of current financial hardship. However, as the account is closed, it wouldnt fall under that as it isnt current.

Bank charge refunds are unusual nowadays for anything other than financial hardship and first time errors.