Business banking ethics

In message , Chris writes

No. 2 suggests that you are sailing close to your overdraft, so not in a strong negotiating position and.....

Basically, most banks are bastards who will take advantage of their terms and conditions to the 'n'th degree - particularly when they have got you by the bollocks. I dont think ethics is a word in most banks vocabularies.

I have had variations of all of the above over the years and, if I am motivated by either principle or the amount, I usually write a letter asking for an explanation. If I think they are wrong with something, I would tend to ask them to help with my misunderstanding of the situation, rather than expressing it as a definite error.

Sometimes my bank has accepted that they have made an error, and other times they explain their terms, and refer me to the relevant document which I signed many years ago. On a few rare occasions they have backed down on the basis of fairness, (i.e. their terms allowed the charged, but they waived it in an ex gracia manner).

1) is probably correct, and maybe you could have used a different means of transfer? 2) you cant really blame them for looking after their own interests first.

3) Could be a mistake, or could be explained by their terms.

4) They have probably performed within their service commitment.

I would write a nice 'ish letter and see what they say.

In the long term, I would promise myself that when I get into a position to dump them, I will do so at the earliest opportunity. The best time to do this for most satisfaction, is when you are negotiating with them for some business, (e.g. a really big and well secured loan, which they want but which you can get elsewhere).

Ditch the bank and sign up with Cater Allen (0800 092 3300) who will give you free business banking for up to 20 transactions per month, and don't give you any of this crap. I've used them years and they are excellent.

Kind Regards, Shane Cook.