Thread: Lizzie59 - sole trader v HSBS

Hello have received statements my partner had a very small sole trader account, can someone please help most of the charges are stated as 'TOTAL CHARGES' but I am unsure if we can claim for these under a sole trader account, I am also having trouble working out the interest charges so if someone could help with this I would really appreciate it.

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hi lizzie
i'm not very clued up on business accounts but i'll send you a link and see if it helps ok
good luck

Business Claims - basic guide

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The following extract is from this post by maverik1979 http://www.consumeractiongroup.co.uk...ts-please.html

I suppose the business account bit applies to you?



Total charges (HSBC)

Again this is another issue which many people aren't sure about,

total charges are reclaimable, they are a seperate issue to the other afore mentioned charges (card mis-use, returned d-d's etc), and are not simply all of these charges added together each month. so they are also claimable on top of the other charges

"total charges" refers to the charge they put on your account for going over your overdraft limit, this charge is calculated daily, and they can charge up to a maximum of £125 in one month for this, it is then debited from your account on a set date every month



Important!
For buisness accounts ONLY the "total charges" include a combination of reclaimable and genuine charges, and you will need a Breakdown to exactly know what proportion of "total charges" are unlawful.

I was charged £150.00 in one month for "Total Charges" Is this £125 an old rate?

Thank you for replies - does anyone know how I can work out how much of the total charges are unlawful?

Can anyone who has claimed from HSBC know what the charges were that could be applied by the bank, we do not have the paperwork the charges were from 2001 - 206, we have now closed the account, the charges per month have ranged from £ 3.50 to £ 80 there was never much activity on the account

Look on your statements, penalty charges used to just say "total charges". You will see from the statements if you were beyond your OD limit when they were applied. The statements don't actually say the reason for the charge, but you know those ones of around £27.50, £72 or £90, they're quite easy to spot.