TSB Business Account Fees

c.johnson1390

Hi everyone,

Today I received a letter from TSB, from December 2018-June 2019 TSB failed to collect any business banking fees totalling £560 despite sending invoices. Now 9 months later since the first month of fees wasnt collect they have asked me to pay the outstanding fees, they have told me to pay Dec, Jan and Feb in October, March and April in November and May and June in December.

Now I'm not disputing the fees are owed (even though it is completely their fault) but to ask me to pay 560 over 3 months when November is when I receive my tax bill along with having to pay my accountant fees I think this is complete out of order. I've called them and they point blank refused to budge and where quite rude about it, despite me also explaining we are a small business that cannot pay this, bare in mind we're also expected to pay the usual business fees for October, November and December, we're looking at paying around £800 in business fees alone in 3 months.

I even told them this could potentially force the business to close and they said 'we understand but the fees will be collected on the dates stated'.

Is there anything I can do or does anyone have any advice ?

Thanks, Chris

jonesMUFCforever

Close the business down and show them!

eskbanker

These threads rarely go well, there's a similar one at https://forums.moneysavingexpert.com/discussion/6039481

The same principle applies here - if they didn't take the fees when they should have, then this must have meant that your account had more in it than it otherwise would have done, and so you should have the money spare to repay it. Clearly in the real world it's not quite as simple as that and anyone not noticing the debits may have spent the money, but, as you recognise, this doesn't change the fact that you owe it.

They could have started from the position that it's all due immediately (and maybe did?) but a payment plan of 240/160/160 over three months (with two months notice) doesn't really seem unreasonable.

You mention accountant fees being due - if your business has such thin margins that paying £560 of arrears over a quarter is potentially terminal then I'd have thought that there's a case that your accountant should have spotted the issue, so it might be worth appealing to them to reduce or defer their fees?