Business Account - reclaiming bank charges

Options
1…3334363839…71

Comments

  • dazzasj
    dazzasj Posts: 3 Newbie
    Options
    Hi All
    I sent off the MSE letter requesting my bank (Yorkshire Bank) statements and got a letter back saying that Limited Companies cannot request a a DSAR (Data Subject Access Request) but Private individuals, sole traders and partnerships can.

    They have said they will provide statements but these will be £5 per sheet - ouch!

    Is this right and any suggestions on where I go from here would be appreciated.

    Many Thanks

    Darren
  • cath2756
    cath2756 Posts: 5 Forumite
    Options
    I requested my business account statements (and was charged) However, today I received this letter (no statements included) and wonder if anyone knows if it is correct information or the bank trying to duck out of paying

    Thank you for your letter concerning the charges applied to your account. You have referred to the views of the Office of Fair Trading on charges. I am aware that the OFT have stated that credit card companies should charge no more than £12.00 in penalty charges for exceeding an agreed limit or failing to make a minimum payment. Our legal department have advised that this investigation is related to credit card charges only and not bank charges. The OFT's inquiry is based on Unfair Terms in Consumer Contracts Regulations to which you have referred, however, these regulations do not apply to business customers.
    Ultimately it is your responsibility to manage your account. However, I have noted from your account that refunds have not been authorised in the past. I am therefore willing to authorise a refund of £65.00 as a goodwill gesture. Please sign and return a copy of this letter if you are satisfied with the resolution.
    It goes on to say that if I am not happy I have recourse to the Financial Ombudsman
    Any help regarding business accounts and reclaiming much appreciated
    Catherine
  • bindweed_2
    bindweed_2 Posts: 18 Forumite
    Options
    Hi Darren, I'm sure that the bank can only charge a certain amount for copies of bank statements, certainly not £5.00 each. Why don't you contact CAB? I am thinking of claiming my bank charges back on my business account. My husband's not so sure though, even though I successfully reclaimed £1600 from my RBS personal bank account in April after 3 letters. I would love to hear from anyone who has successfully reclaimed business bank charges and did it have an impact on the business overdraft i.e did the bank withdraw facilities etc?
  • cath2756
    cath2756 Posts: 5 Forumite
    Options
    Hi,
    I have just posted another thread regarding the same. I had a letter from BOS saying business accounts are exempt from the regulations
    I posted the thread under Business Accounts / Bank of Scotland. If you go there you can read the full reply from the bank
    Catherine
  • tosca5
    tosca5 Posts: 576 Forumite
    Options
    I did not think there was any difference between claiming for business/personal. I claimed back over £300 from RBS on my business account.
  • Kurt_Hamster
    Kurt_Hamster Posts: 791 Forumite
    Options
    It is possible, though I'm not totally up on the intricacies, given that the data you are asking for isn't "personal" you may get away with requesting the data as per DPA 1998, Ch29 section 33 whereby you can request the data for "research purposes".

    Maybe someone who is more qualified than I could clarify.
    Hamsters have no tact and diplomacy, nor do they want any.
  • cath2756
    cath2756 Posts: 5 Forumite
    Options
    Well, I agree - there should be no difference between personal and business accounts, an unfair charge is an unfair charge. However Bank of Scotland seen to disagree. The one thing they seem to be latching onto is that the OFT have stated that c.c companies should charge no more than £12 and that their legal team have said that the investigation is realted to credit card charges only.
    I think that the banks are ready to fight back because of the Lloyds TSB ruling the other week. However, the way I see it is that if they have already repaid charges to other customers prior to this, surely they can't discriminate now
  • elizabethkc
    elizabethkc Posts: 2 Newbie
    First Anniversary Combo Breaker
    Options
    Hi This Is My First Go At Doing This So Hope I Do It Right.
    Can Anyone Tell Me If You Can Reclaim Bank Charges On Buisness Acounts. I Have Heard You Can't And Was Disappointed As I Totted Up Nearly £2500.00. Just My Luck Not To Be Able To Claim.
    Thanks Anyone Who Can Help And Good Luck To All You Who Are Claiming
  • johnmichael_2
    johnmichael_2 Posts: 19 Forumite
    Options
    Yes you can. I've done it once and I'm just doing it agein.
    Here's a tip. check your quarterly statement of Bank Charges for something called "Paid Referrals". It's when they look at your account to decide whether thay want to honour one of your cheques or not. £30 in my case. I'm currently in the process of getting another £1900 refunded. I've already turned down an offer.
  • elizabethkc
    elizabethkc Posts: 2 Newbie
    First Anniversary Combo Breaker
    Options
    Hi Thanks For That. What A Great Site With Loads Of Information. It Just Goes To Show There Are Many Good People Out There Who Are Happy To Help Others. Carry On The Good Work. You Have All Given Me The Courage To Have At Go At Nat West. Thankyou
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.3K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.7K Spending & Discounts
  • 235.3K Work, Benefits & Business
  • 608.1K Mortgages, Homes & Bills
  • 173.1K Life & Family
  • 248K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards