Closed Accounts & Business Accounts

[lovatt]

Hi All,

 

It's about time the banks were given a taste of their own medicine, I'm so fed up with being constantly bullied by them, it'll be so nice to get that 'pound of flesh' back.

 

But is it possible to claim charges back from closed accounts and also from business accounts and if it is how?

[bram stoker]

So long as you have the account details, you can send a DPA request for the last 6 years. Then see what the charges are and claim if they are unlawful. Often the business ones aren't, but you'll know when you have the info.

[gordonhall]

Yep, its no problem. I'm claiming on behalf of my limited company and I'm also claiming on a credit card I closed 2 years ago.

 

no problem with either.... as yet!

[lovatt]

Excellent, thanks for that.

 

The business charges were a little odd, as the business came to the end I was being hit with bank charges for unpaid D/D and unpaid charges nearly on a daily basis and what started as a £5000 overdraft ended up at £12,800 in just under 4 months. Tried to get a personal loan to pay it off but couldn't and Lloyds finally gave me an ultimatum of "we'll give you a personal loan or take you to court". They then used the business credit score for my personal credit score and knowing that they had me over a barrel they gave me an APR of 15.9%. Which has left me with a loan over 5 years that's higher than my mortgage payments. I'm quite looking forward to having a go back at them.

[gordonhall]

That'll be a nice one to get back and a real poke in the eye for the bank. Stick with it all the way through and don't accept less than everything they owe you.

 

Keep us informed.

[caro]

What is it with banks and small businesses? They seem to be even worse with the self employed than private individuals. One thing to remember is that business charges that you have claimed tax relief on are then liable for tax. Still well worth it though. Good luck.

[tedblue]

Going through the same thing myself. Keep going and keep us informed

[howben99]

to anyone out there in CAG land especially Tedblue, Caro, Lovatt, could you let me know how you got on with your business claims as i have the same problem but i dont think i can claim as the company has ceased trading.

[Keith22]

Hi,

 

I'm almost in the same boat. I had to accept APR of 14.9% and repayment over a short term but to add insult to injury they missold me loan protection insurance. I only discovered this some time later. Stick in there - my claim for unlawful charges is about to be handed into court. My claim for refund of PPI has gone (initially) to the Ombudsman. Be prepared for a rough ride - my claims have been dealt with by no less than 5 different managers and they seem to want to play hard ball. Its been the usual delaying tactics but I think its just a question of patience. Good luck! If I can help I will

[boxster]

closed accounts/I closed my accounts after a dispute with the manager over being able to get cash from an account so immediately asked for all my accounts to be cancelled and payment was given in full by way of bankers drafts after all accounts were checked and the interest accrued was given therefore as i saw it my agreement with the bank ceased from then as final payment was agreed.

Not so the Bank came back some days later and gave me an unautherised overdraft of £6000 due to as they said a cheque which had bounced why did they not allow for this then on the final settlement.It has now been two years and i am still waiting for them to take me to court I wrote to them stating that this so called debt was not enforcable under english and scottish law they wrote back stating i still owed this money and i should get in touch with the credit collecting agency to make payment I asked for a copy of the default notice and they stated they could not give me a copy.I am at a loss as to how i should persue this any further ANY HELP WOULD BE GREATLY APPRECIATED.

[dolfos]

to anyone out there in CAG land especially Tedblue, Caro, Lovatt, could you let me know how you got on with your business claims as i have the same problem but i dont think i can claim as the company has ceased

trading.

 

Hiya,

I am claiming on behalf of my husbands former company where he was a sole trader and had a business ac**** which is now closed with HSBC. He has actually now had to enter an IVA where HSBC are the largest creditor ironically.

You can claim back charges even though your husbands business has ceased as long as within six years as far as I am aware. I am certainly going for it have a look at my thread if time.

Goodluck!!!

 

http://www.consumeractiongroup.co.uk/forum/hsbc-bank/26925-business-account-over-19-a.html?highlight=dolfos

[kezmerrelda]

Hi there,

 

Also claiming back on a closed business account.HSBC chose to close it due to unautorised overdraft of £2,667k...however they had charged over £7k in charges over past 16 months!! Anyway was all going ok but now they are taking us to court so launching complex web of counterclaims.

The fact account closed not an issue though its all just who owes what that needs sorting out.

Good luck.

Incidently now have a business account with another bank but due to the credit scoring they charge without you doing anything! They call this account maintenance!

Evil swines the lot of them!

[boxster]

Hi and thanks for the reply did you close the account or did they close it and my point is closing an account is legally binding

And by the way they have not taken me to court they do not seem to want to i have given them ample oppertunity to do so

They wriggle at every argument and will not accept that they are not legally able to do what they are doing I quoted english and scottish law but to no avail. they wrote back and stated that they would not be replying to any more letters.

:-|

My only option now is to persue the default notice served is not legally binding due to the above(closing account )I hope this helps.

Regards Boxster

[MrsLAJJ]

Hi - I'm brand new here and looking to reclaim my husbands bank charges from Lloyds... over the last few years he must have racked up quite a few hundred (it's his business account) - I'm finding this site really informative but a little confusing!! Can I (well my husband) proceed in exactly the same way as if a private customer? We don't have available all statements etc so will have to start with the Subject Access Request - can I use the template from this site? Also the £10 fee, I'm assuming I send a cheque, who would I make that payable to? I'm sorry if this info is already on the site. ANY advice on how to proceed would be really apppreciated! Thanks

[tamdolan]

sent a SAR re a business account and received a reply that businesses are not covered by his and I would have to £5 for each statement for the last 6 years. can anyone confirm that i can obtain details of charges fr a business account under data protection act?

[andytheguv]

Hi all and the guvnor if he gets to read this.

 

I had a business account and as calculated by the marvellous spreadsheet from Vampiress I have been charged a monthly ‘ Referral Charge ‘ and once in a while an ‘ Unpaid item ‘ fee over that period of £1495.00 and with ‘ Compounded Contractual Interest ‘ on top equals £3004.43 @ 18.20% as per advice and spreadsheet.

After reading many posts I understand that the interest is to be advised on the Letter Before Action but if it goes to court according to wording on the posts I make an offer of just charging 8% as per Small Claims.

 

Can anyone who reads this please advise this is the right move as I had already sent an LBA a while ago, got wrapped up in work and doing life stuff and did not follow it up. Is it OK to send another LBA as I got a reply from RBS as follows :

 

Your complaint regarding charges has been passed to me and I am sorry we have failed to reach an agreement with you. Please accept my apologies for any unintended inconvenience or upset.

I note that a lot of the wording you use comes from the coverage that this issue has attracted in the media and on consumer group websites. I can understand this given the sheer volume of this.

I have to stress that the OFT review of charges, which initiated this public debate, is concerned only with credit card charges, although in their statement issued in April, they suggested that similar principles may apply to current accounts. As a result, the banks are waiting for an indication of whether the OFT will now investigate current account charges and the British Bankers Association is, I believe, trying to progress this with them.

In addition, the OFT has already said that their review and statement does not cover business accounts, which they accept operate under different terms & conditions than personal current accounts.

Pending the outcome of the discussions as to whether the OFT will now review current account charges, I regret that I cannot agree to refund the charges applied to your business account.

 

Advice would be helpful please anyone.

 

Capital One Paid out in full = £40.00

Virgin C Card Paid £20.00 going for the other £20.00

Abbey Nat refusing, got to start over as I left it to long

Alliance and Leicester paid £60.00 going for the other £40.00

RBS still going for £1495.00

 

THE CUSTOMER IS ALWAYS RIGHT

 

Andy

[boxster]

Hi - I'm brand new here and looking to reclaim my husbands bank charges from Lloyds... over the last few years he must have racked up quite a few hundred (it's his business account) - I'm finding this site really informative but a little confusing!! Can I (well my husband) proceed in exactly the same way as if a private customer? We don't have available all statements etc so will have to start with the Subject Access Request - can I use the template from this site? Also the £10 fee, I'm assuming I send a cheque, who would I make that payable to? I'm sorry if this info is already on the site. ANY advice on how to proceed would be really apppreciated! Thanks

 

I think you will find all the info on site/ you need to be patient and read as many relevent threads as you can/ and then request copies of the relevent accounts and take it from there.I hope this helps you.

 

Regards Boxster