How Small Businesses Can Save Money
makes it to court it will be a court local to you. Always make sure you read the small print before trying to claim back small business banking charges. There can be nothing worse than shouting about a discrepancy and finding you were in the wrong.
Be on the lookout for excessive charges. It is only lawful for the bank to charge a fee in relation to what the inconvenience has actually cost them. Charges over and above this are seen as penalties and are not enforceable. Go back over old statements and records and work out exactly what you are owed. Your first step should be to write to the bank and request your unfair charges back. This often has favourable consequences and can remove the need for lengthy and costly court proceedings.
Take a close look at the court action choices open to you. Listen to what the bank has to say and if you decide to proceed, inform the bank of your choice. You will often find that this is when they back down and repay your charges to avoid the bad publicity.
Above everything else, ensure you keep a close eye on your small business banking. Avoiding the charges in the first place saves a lot of time and hassle that most small businesses can ill afford.
Tags: Businesses, Money, Save, Small