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Relationship with Bank After action?

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Hi there...


Firstly may I say fantastic site, and thank for a real eye-opening education.


My situation is this. Although I am very stable now (self employed) and making a decent living, in the past I have had varying degrees of difficulty with money resulting in what I am sure is a substantial amount of charges with LloydsTSB as well as a couple of credit cards.


I would like to start the process of recovering these charges, but how might that reflect on my relationship with my current business manager etc. I have a number of fairly substantial loans with the bank, one to start a company going (about 20k) and another to expand (about 10k) plus a few bits and bobs for car etc. The big ones are secured against our house. Now everything is ticking along nicely, the business is going well, and a large amount of this success is down to the good relationship I have with the bank and as I said, my current business manager. We speak usually once a week.


If I begin this process, is this person directly involved, or is it conducted between myself and another area of the bank. I.e. will it reflect upon my business manager that 'I am causing a fuss' and will it impact upon his record? I am sure you all understand that whilst it is incredibly annoying to find out that we have been unlawfully and unfairly treated with these charges, it might be that the repercussions of claiming them back might outweigh the benefits. God forbid they closed down my account, that would be a nightmare. I have built up a long and good relationship with the business centre. If I ever need anything sorting, i.e. a quick temporary extension on my o/d for example this is always sorted, quickly and painlessly via the phone in 5 minutes. I am sure It would take me a long time to build up that rapport with a new bank, that's even if I found one to accept my current business at the level that it is.


So basically ,... can a few people, maybe in the same circumstances discuss their experiences after action has been completed.


Also, I understand that these charges are considered excessive. For instance if I am charged £12 for an unauthorised o/d letter, what portion of this do we claim back. The whole lot? Or is there some standard that says they should only charge £2 for instance and we claim the £10 back. Surely there must be some legitimate charge for the process?


Thanks in advance, and once again wonderful site!!





Progress so far... Eyes opened in astonishment and cogs of brain whirring!:eek::-)

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Welcome Chris *waves*


In reverse order; We should only be claiming back the excess bit of the charges. If it costs the bank £2 to send a letter but they charge £12 then, lawfully, you can only claim the £10 difference. But... and it's a big but, the banks point-blank refuse to say how much it actually costs. So the only option is to claim 100% of the charge and let them challenge it. So far, the banks haven't risen to the bait, preferring instead to just pay the lot.


As for post-action relationship. Well, it could be tricky in your position. Were all the charges on the business account? I'm guessing you were a sole-trader, so effectively the "business" account is a personal one? Because it doesn't mean anything, I'd send the DPA request off to head-office and get your copy statements. Once you know how much is owed, you can make a better judgement - if it's £300 then you might decide it's not worth the agro. If it's £5,000 then you might decide it is!


Good luck!

A&L: Settled - £6,200

HFC: Settled - £800

Shell Visa: Settled - £250

Egg: Settled - £700

Mint: Settled - £1200

RBS: Settled - £850


The opionions in this post are guaranteed to conform to the laws of physics, but pretty much nothing else...

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Three things to say initially. One is to read the FAQ's and really familiarise yourself with the process, which takes a few days. Also take a look in the Lloyds TSB forum and put your post there. (I daresay a mod will be along and move it for you). That way you will get a feel for how LTSB are tackling things, and also other Lloyds users are more likely to see your post and answer there.


While it is very nice that you have a good relationship with your business manager, I feel your concern on how it reflects on him is rather strange. Potentially you may be owed thousands which has been taken from you unlawfully. Maybe you could have borrowed less had you not been charged so much. One member recently got a £10,000 loan and £7,000 + in charges back, from memory because the loan was needed as a result of the charges. Frankly if I were in your position I would be more concerned about myself than a bank employee. If the roles were reversed and your company charged him personally that kind of money he would have any qualms about suing your company?


The advice is to have a parachute account ready just in case, but (and feel free anybody to correct me if I am wrong), I don't believe they can touch your loans.


By the way, welcome and good luck.

The Consumer Action Group is a free help site.

Should you be offered help that requires payment please report it to site team.

Advice & opinions given by Caro are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

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Hi all!


Chrisuk,welcome on board!


In my view:


1.The only form of finance that can be made "payable on demand" is the overdraft.

How much is your overdraft?Could you pay it off?This way the bank has less control over your business.Just a thought.

I say this because the remaining types of finance you i.e.secured loan etc would only cause you problems if you could not repay them or did not repay them.


2.Nobody can predict the response you get from your bank if you start to claim charges against it.As you are probably aware,some A&L customers claimed back their charges and A&L has given them 30 days to close their accounts.


3.Personal banking and business banking are totally different kettles of fish,so what you get up to with the personal side may not/should not have anything to do with your business banking and thus your good relationship with your business manager.


4.In conclusion,I would still persue the charges at the end of the day they are unlawful.


5.When you claim,you claim the full amount - i.e. returned direct debit of £20 would be the £20- this is in answer to your question .


6.In order to persue the charges you will need to obtain your records dated back 6 years by sending a DPA request with the stautory £10 fee.Of course before embarking on doing this you should read through the FAQs and the experiences of other people within this forum so that you are well informed.


Anyway,I hope you find this information/suggestions useful.


If you need any help,just ask.


Keep us posted.


All the best!

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Hi all...


Thanks for the prompt responses! This is a busy old place early in the morning!


Ok.. that's answered a few questions for me. Claiming the full amount of a charge is our only recourse because there is no reasonable amount that has been set before. (I think it must be a matter of time now don't you think!)


To answer somebodys point - the charges would have been mostly on my personal account. For some reason I have always been more responsible with my business account - If a psychiatrist could explain to me why I'd be very interested!


Regarding my comment about protecting the rep of my business manager. I know it might sound strange, but I have been through several business managers at the bank over the years. My first one was a gem, and really, really helped me out in some tight spots. Since then I've had a few that were ok, who took marginal interests in my welfare and the welfare of my business affairs. One was downright unhelpful and it caused me great grief just trying to conduct affairs in the way I was accustomed. Now I have this chap, who is only young, and we have hit it off in a very positive manner. It's like the good old days where he understands my business inside out and is very proactive on my behalf. He went out on a limb and found a few workarounds to help me recently when I expanded my business, and to this I owe him (not the bank) a good degree of loyalty. It is my business practice to look after people who look after me, simple as that. If he hadn't gone the extra yard and come up with a solution for me (as others certainly would not have), I would be making a lot less this year. Certainly less than the charges I could recover so I would really like to keep the right people on side. Simple maths really. I understand I may be in a slightly different situation to people who are purely personal customers.


That said and done... I think as the person here previously mentioned - business and personal accounting are a world apart and it really shouldn't impact on that side.


Once again thanks for the info.. I am devouring the threads and pages here... first things first.. I will get the DPA letter off to see where it all stands..


Cheers all



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And if your working relationship with him is relatively new, I don't see how he can be held accountable for your actions by the bank.

The Consumer Action Group is a free help site.

Should you be offered help that requires payment please report it to site team.

Advice & opinions given by Caro are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

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I agree with colour me happy and caro, but in the meantime can you not open another account somewhere else then if things were to go pearshape you have at least another account to fall back on.


One point that you have to remember is its YOUR money they have taken it unlawfully from you ...but at the end of the day it is your decision .......hard I know ...

:) Go on ... you know you want to click me :)

:lol:don't be like the banks - give a little back :lol:

:D There was a time before CAG but now CAG is here we are the empowered! :D

In progress:

Mechs and Mother (deceased) V Halifax - N1 form filed at Court 9 Aug 06

Advice & opinions of mechs, The Consumer Action Group and The Bank Action Group are offered informally, without prejudice & without liability. Seek advice of a qualified insured professional if you have any doubts.

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