bank charges

[ohmygodwhathaveyoudone]

have been with my bank for 2 yrs now & am being charged well o.t.t. for buisness charges.
get charged for paying in cash @ the counter.
get charged for every direct debit.
get charged for every cheque i write.
got charged £100 for increaseing my overdraft by an extra £1000 plus an extra £150 aswell.
bank refused to pay a d/d of £32.82 and charged me £30.00 referral fee?
the next day they paid £809.00 out of my account
i don't mind paying the charges but they are too inconsistant,how can they not pay £32.82 but pay £809.00 ??????????
when i first opened the account they where really helpful & i could contact my buisness manager to discuss the account at any time.now i just get his assistant that does'nt seem to know whats happening.
"there has to be another way"

 

[david and julie]

The banks have always been a ripoff unfortunately your problem is all to common.

I would change banks if I was you and at the same time try to get the odds more in your favour. Most people are reluctant to do this because of the hassle with standing orders etc, however you will find many banks you move to have a clerk that does this sort of thing for you.

Have a look at this www.moneysavingexpert.com/

I haven't read the full site so am not sure if there is anything about business accounts. There is a forum on it though which may help.

Banks (and credit cards) are after new business these days and offer better deals to new customers, often at the expense of existing ones.

Also don't discount the internet banks, being able to more easily access your account often lets you manage the account better. I.E. making sure youv'e been paid before paying others.

I have been a natwest business account user for 20 years and often threaten to close the account if they start their antics, I have often phoned and had these charges dropped. Don't be bullied or intimidated by them. (even if you owe them money) sorry to go on but this sort of thing really gets up my nose.

Best of luck with them, Dave.

 

[ohmygodwhathaveyoudone]

thanks d&j.a total off £391.00 bank charges last month.

 

[david and julie]

Just read the link what do you think about this

www.alliance-leicestercommercialbank.co.uk/pages/SB01026.asp

This was the first one I saw and may be worth checking out.

 

[ohmygodwhathaveyoudone]

looks good,i'll have to check it out.

 

[sparkyfrog]

We use Alliance & Leicester for our small business. This is operated over the internet, and by post.
However we do not have loans, or an overdraft facility ( because we hate banks so much we were determined not to do so ) but that could well change the picture for you.
Good Luck and keep us posted how you get on

 

[mildmanneredjanitor]

Being a sole trader, any 'cash' I am paid, I put into my personal account as obviously there is no charge for personal banking. Also, I try and wait until I have more than one cheque to pay in (as you are charged per deposit - not item).

I wouldn't be put off by the fact you have an overdraft - as long as the account is generally within the overdraft limit, this is seen as a well managed account. (even if like me you only just... manage!)

Personally, I like the fact I have a little business branch locally (with rear parking). The staff are always helpful and none of this telephone banking malarky. Tho I also use internet banking (business and personal).

Loids tee ess bee... very good!

 

[crystal ball]

Abbey National business banking 08453004041, its free, it pays interest, its efficient

 

[securespark]

I banked with The Action Bank from Feb 96 to April this year.

Now I have been told that I need not have had a business account at all.

As a sole trader, you are not required to have a business account, so I rang up the BS that we have our private a/c with. "Can I open a personal account for my business with you if I am a sole trader?"

"Yes, no problem" came the reply.

So now I am with them, sounds like a news magazine programme Frank Boff used to front.

And I have nightmares of the 200-250 every year I could have had... 2K is not a fantastic amount, but every little helps, as some tw@ttish supermarket keeps telling us.