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S.A.R and business accounts

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We appear to have another business account problem!!

 

Jonathon Cuff at HSBC has informed me that I cannot access details of 'Total Charges' applied to my business account under S.A.R no rule or regulation was quoted just a voicemail saying:

 

"DPA and sar dont apply to business accounts so we wont cash your £10 cheque and you cant get that info"

 

They have already sent me the duplicate statements which only state 'Total charges' with varying amounts deducted each month. I asked for a dtailed breakdown of the 'Total Charges'

 

This is a limited company account and I am the company secretary and main director. If they wont tell me under DPA then what method can I use to get to this info?

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Guest NATTIE

What sort of business account was it? I know we briefly started the convo on another thread so hopefully more will join in.

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Hi natwest,

 

It is a Limited Company business account.

 

Mr Cuff did seem pretty confident that he was right but I have my doubts.

 

I understand a Limited Company is a legal entity in its own right but as the company secertary and main director it is my legal duty to account for all its funds... so surely I should be able to request info on its behalf??

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Guest NATTIE

That is what I would have thought because the bank are processing info or data so did he say how you could request such info?

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TFS, you and dolfos appear to be suffering the same problem, lack of information on the normal HSBC statement.

 

I have no knowledge of HSBC (the only bank I have had no dealings with!),but it seems that you only have one debit item per month on your statement, for total charges, which is supported by another analysis sheet. It's these analysis sheets that you don't have and your Mr Cuff won't readily give you. Please tell me if I have it wrong.

 

Do you have any details of the account maintenance charges that you agreed to when the account was set up, or since?

 

Elsinore


BANK CHARGES CAMPAIGN CONTINUES - PLEASE SIGN THIS PETITION

 

Aktiv Kapital £300.00 SETTLED IN FULL

Capital One £741.47 SETTLED IN FULL

Citi Cards £1221.00 SETTLED IN FULL

LTSB(personal) £3854.28 SETTLED IN FULL

LTSB(business) £7487.97 SETTLED IN FULL

 

What poor education I have received has been gained in the University of Life

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Hi elsinore,

 

You are correct (almost!)

 

This is an example of the way your statement would look on your HSBC business accout:

 

DR Merchant servics £125.09

DR Stmnt freq £1.00

DR Switch charges £235.60

DR Total Charges £435.06

 

As you can see, almost all of your charges are laid out quite clearly and precisely but the 'Total Charges' seem to be random amounts each month/quarter.

 

I am guessing that in 'total charges' are fees for services but also unlawful charges. What the actual split is, is anyones guess because you have no means of breaking down 'total charges'

 

Heres my main concern: My 'total charges' plus compound interest stands at £15,000 if this throws me into a higher court and I get this wrong they can claim their costs which as we all know will be enormous (probably enough to bankrupt a small country!!)

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Yes, I can quite see your problem and I agree that it needs sorting before you enter a claim.

 

I would have thought that, irrespective of the DPA, you have a perfect right to demand the information from your bank. Whether or not you intend to use that info to make a claim for refund of charges, your accountants surely need it to analyse your costs and expenses properly.

 

I cannot see on what basis the bank can refuse you, other than to frustrate you, knowing what lies behind it.

 

But if the info is not forthcoming, I would be looking at a calculated estimate. If you can establish how much you are charged per cheque drawn, per cheque banked and per £100 of cash banked, plus any standard monthly account charges, then the rest can be taken to be unlawful charges.

 

You could quite properly enter an estimated claim which a judge would be obliged to entertain, especially as you would inform the judge that the proper info was not made available. A judge might then order the bank to divulge the info, allowing you to amend your claim accordingly. The bank themselves, realising their folly, might even cough it up voluntarily.

 

Please seek other opinions TFS, I'm just thinking aloud and presuming what I would do.:)

 

Elsinore


BANK CHARGES CAMPAIGN CONTINUES - PLEASE SIGN THIS PETITION

 

Aktiv Kapital £300.00 SETTLED IN FULL

Capital One £741.47 SETTLED IN FULL

Citi Cards £1221.00 SETTLED IN FULL

LTSB(personal) £3854.28 SETTLED IN FULL

LTSB(business) £7487.97 SETTLED IN FULL

 

What poor education I have received has been gained in the University of Life

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