Compensation for Business Banking Charges

Compensation for Business Banking Charges
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Many banks are now paying compensation for business banking charges, as businesses claim back money that the bank has charged them in unfair fees. If your business breaks any of the terms and conditions associated with its bank account, for example, if you exceed your overdraft limit, the bank will charge your business. The law is clear that any charges by the bank must reflect the actual costs of damages incurred, but many banks charge more money than they should. Estimates of the maximum amount that any bank can justifiably charge is usually about £2.50 whereas charges are commonly about £30.

Compensation claims can be made independently or through independent claims specialists. There are several advantages to making a claim through an independent company:

You will save time and money as most companies do everything on your behalf.
Most companies operate on a no win-no fee basis.
Your case can be fast tracked as many companies have special agreements with the banks involved and so can settle the case privately.
If the case goes to court you will receive advice and representation in court, and any necessary fees will be underwritten.

We can put you in touch with Claims Financial, a company that specialises in reclaiming unfair bank charges, providing: