Business Bank Account Charges

[Turnover]

Hi,

I am a sole trader. I have incurred in the region of £10000 of bank charges relating to returned payments in the last few years.

I am currently under a lot of business debt, mainly HMCE. This money would be very useful.

Do the rules that are currently being applied to personel accounts also apply to sole trader accounts?

Cheers

[natweststaffmember]

Re: Business Bank Account Charges

Which bank are you with?

[Turnover]

Re: Business Bank Account Charges

It's complicated. HSBC, but when they cancelled my £20K OD I had to swiftly open one with Barclays. I've incurred charges with both banks

[natweststaffmember]

Re: Business Bank Account Charges

For barclays you are gonna have to read this thread:
That Salford Business Claim - Sweeney v Barclays - Legal Beagles

[Amethyst]

Re: Business Bank Account Charges

Simple answer is you can take a business charges claim/complaint on a sole trader account through the banks complaints procedure and to the Financial ombudsman.

We are not recommending anyone takes a business claim into court.

[TUTTSI]

Re: Business Bank Account Charges

It's complicated. HSBC, but when they cancelled my £20K OD I had to swiftly open one with Barclays. I've incurred charges with both banks

Hi Turnover

I completey comiserate with you, my o/h was forced to change his business bank account also from HSBC and managed to get an account with Barclays.

The charges are so high this month he has gone absolutely mad. More charges with them than he ever had with HSBC. He is currently talking to his business manager and hopefully he will help if not I will have a very very unhappy hubby.

Tuttsi

[Turnover]

Re: Business Bank Account Charges

Hi,

Yes the charges for accounts are getting worse. With Barclays this month the charges are £550. £300 was for paid referrals.

I get the feeling that they are trying to get as much money from small business atm.

Cheers

[TUTTSI]

Re: Business Bank Account Charges

Just to say that my o/h talked with his business account manager at Barclays and he reversed the whole months charges which were over a grand on that particular month before they his his account. Whatever you do do not put your head in the sand, there is always some other way forward.

Have you tried talking to your account manager and was he or she helpful?

I agree the charging regime on business bank charges is getting really bad.

When you work hard as you do 90 hours a week like my hubby and you end up working to pay Barclays charges it is not good.

Tuttsi

[rainee]

Re: Business Bank Account Charges

we are having fun & games with Barclays as well £1000 last month. we are a limited company who has been attacked by ex staff and breaking every law under the sun & still we are powerless to do anything.
Can we claim ??

[Sapphire]

Re: Business Bank Account Charges

Can you prove that you're being attacking by an ex-staff member ?

[dyfrigj]

Re: Business Bank Account Charges

I have a large amount of charges on an account, which is nominally a business account, but which I use for personal expenditure. Would the fact that it is named as a business account prevent me from taking the bank to court to reclaim charges?

[Caspar]

Re: Business Bank Account Charges

I have a large amount of charges on an account, which is nominally a business account, but which I use for personal expenditure. Would the fact that it is named as a business account prevent me from taking the bank to court to reclaim charges?

You can take it to court if you want to, but it is NOT what is being recommended by this site at the moment.