business bank charges

[peter1234]

Can anyone please point me in the write direction for claiming back business bank charges i believe it is different to personal bank charges thank you

[cerberusalert]

Wrong link removed

Edited October 8, 2009 by cerberusalert
removed wrong link

[peter1234]

thanks but the site says i am not allowed to acess that link

[cerberusalert]

I've asked someone else to advise.

[peter1234]

thanks

[MARTIN3030]

Ok there are difficulties but its not impossible.

First of all can you answer a few questions.

1.What was the business ? ie sole trader/partnership/limited Company.

 

2.When do nthe charges relate to-what years ?

 

3.Which bank is it ?

 

4.What action have you taken so far ?

[peter1234]

Hi it is a sole trader

 

£8 per day for being a few pounds overdrawn mostly last few months

 

and 1 month in 07

 

HSBC

 

Have asked for a breakdown of charges got these and calculated with 8% interest

[peter1234]

bump

[Mydogsawestie]

Hi andbrat, I would be int in your post info, my husband years ago had a business as sole trader like you but with RBS tho, business is no more though but it would be interesting to know if charges can be obtained back......fingers crossed eh!!

[peter1234]

Hi would really appreciate some input on this

 

I believe i can claim business bank charges under common law as opposed to consumer law and that therefor the ongoing test case does not affect a claim for business bank charges.

 

thanks

[nunnyrose]

Hi, if it's a sole trader account you claim as for a personal account. took me ages to find that info. but found it here somewhere. Have you sent a SAR or have you gone htrough your statements? once you've filled in the spreadsheet template ( I've used the advanced ) send the Preliminary request for payment letter found in templates.

Keep us posted

[MARTIN3030]

Andbrat,Up until October 2008,this was indeed the case.

However in the second part of the test case the Judge -Justice Andrew Smith looked into historical charges and the arguements under commom law.

He ruled in the case of a number of banks that charges under common law were incapable of being penalties at common law.

He reserved judgement on those terms and conditions in the case of Natwest,Lloyds TSB and RBS,pending further submissions being presented.

In a third session in January 2009,Justice Smith looked at the further submissions and ruled that RBS terms and conditions of 2004 and 2005 were also incapable of creating a penalty charge under common law,as was Natwests 2004 conditions,including its leaflet of 2003.

In the case of Natwest,he ruled that he could not decide on NWs 2001 and previous T & Cs,in relation to penalty charges under common law where a card was used.

 

These rulings therefore,means that the banks (or certainly those being part of the test case) now maintain that Common law cannot be used as any defence in claiming charges.

 

Of course there is an arguement that Business terms and conditions were different to those of current accounts,and that the terms and conditions submitted by the banks and studied by Justice Smith were all current accounts.

It is therefore questionable and for individual claimants to look at their own terms and conditions and reconcile them to those Smith looked at,to argue against the points.

 

It is true to say that many of the banks changed terms and conditions just before the test case got underway,and therefore its the older accounts which are likely to be in with a chance of being put to the Smith test.

[peter1234]

hey thanks for all that

so should put a claim in through the normal channels and wait for everything to be decided through the test case.

[MARTIN3030]

There are a couple of forums where you should be able to understand more.

try this one;

 

Business claims for bank charges - The Consumer Forums

[Mydogsawestie]

There are a couple of forums where you should be able to understand more.

try this one;

 

Business claims for bank charges - The Consumer Forums

 

Thanks will be useful for me too....