claiming back bank charges

[shivvy]

I am aware of the groundswell around this issue at the moment in relation to claiming back bank charges on personal accounts. However do you know if the charges can also be claimed back from a business account?

[Oneeyedvic]

No - the piece of legislation that covers the high charges are consumer credit laws

[shivvy]

what a shame!
thanks oneeyedvic.
shivvy

[kempie]

Reclaiming unfair penalty bank charges is not solely based on consumer protection legislation, it also draws on contract law and common law and as such does not automatically exclude business accounts.