2007-09-28 03:06:34 · 11 answers · asked by gerryhattrick2020 1 in Business & Finance ➔ Credit
im never overdrawn, its only a service account for wages to be paid in, but i always have the amount to cover my dd, aint it illegal to charge for dd ??
2007-09-28 03:13:29 · update #1
Change banks straight away! Unless they are charging because you are already overdrawn or something?
2007-09-28 03:10:11 · answer #1 · answered by Anonymous · 0⤊ 0⤋
No, its not illegal, its the same in effect as a shop, the banks can charge what they like for services.
(Different for bank charges as these are penalty charges for breach of contract).
Charging per direct debit though is a service fee and the banks can charge as much or as little as they like!
The solution though is to change banks, most banks don't charge for direct debits. If enough people leave they would be stupid not to scrap the charge.
The trouble is most people moan about things like this, but never actually take action such as closing their accounts. People are far more powerfull than they realise in numbers, individually it won't make a difference, but if everyone starts leaving then they will take notice!
2007-09-28 10:26:36 · answer #2 · answered by Anonymous · 0⤊ 0⤋
For many if not most business accounts, virtually all transactions have some sort of charge.
If all your transactions are done online, why don't you consider moving to HSBC's Direct Business account (NOT their traditional business account). With the direct account, the only transactions you pay for are ones that involve human beings getting involved (and even the first one or two of those are free e.g. paying in a cheque). I do almost all my business electronically and so pay no fees whatsoever - something of a rarity for business banking!
Only applies if your turnover is less than £500,000 p.a.
http://www.hsbc.co.uk/1/2/business/accounts/business-direct;jsessionid=00005msQuksnrmx-y8meZedTr2V:11j71ffl3
2007-09-28 11:57:43 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Ring your bank and tell them they've been charging you for a free service, if in doubt check the details of their terms, conditions and charges which they should have given you when you signed up with them.
I'm sure they'll offer to refund you, if they don't .. move your cash.
2007-09-28 10:16:12 · answer #4 · answered by Pimp Master G 3 · 0⤊ 0⤋
I assume you have a Business account (= It's only free for personal accounts)
2007-09-28 10:16:58 · answer #5 · answered by Steve B 7 · 0⤊ 0⤋
No it is not illegal but it is most certainly unusual. Unless there is something particularly special about your account I suggest you take your business elsewhere
2007-09-28 10:16:40 · answer #6 · answered by JOHN R 4 · 0⤊ 0⤋
The BBC take £5.20 year extra for administration.When paying
TV license fee quarterly.
2007-09-28 16:55:08 · answer #7 · answered by angler 6 · 0⤊ 0⤋
thats wrong!! dd are set up for free. contact the finicial ombudsman to claim it back.
2007-10-01 17:46:52 · answer #8 · answered by littlemissgio 3 · 0⤊ 0⤋
i'm with Natwest and do not get charged for d.d, but friend with HSBC does get charged even though plenty in his account.
2007-09-28 10:17:44 · answer #9 · answered by cairn4lodge 4 · 0⤊ 0⤋
It's time to change banks, methinks!
2007-09-28 10:11:34 · answer #10 · answered by Anonymous · 0⤊ 0⤋