Bank charges checking software

Is your bank charging you too much interest?
UK: 75% of business customers overcharged an average of €4,000

Last Change:
Tue August 08, 2006
© 2007-2010
Hampton Software Ltd

Case Studies

This page lists some of the cases that we have dealt with. We have dealt with many instances where the overcharge is between £30,000 and £40,000. Not all of the unfair charges are interest overcharges one bank charges five-figure sums for merely renewing facilities every few months.

If you have any interesting stories we could list here, let us know.

High Street Travel Agent

Analysis on the bank accounts of a High Street travel agent found an overcharge of £78,000. The full amount was recovered.

Mis-information

Another client had a £20,000 overdraft with a high street bank, but was required to take out a £30,000 life insurance policy as security. He was given the impression that the overdraft was £30,000, and the resulting overcharges amounted to a four-figure sum.

Arrangement Fee Investigation

A recent account, as well as being investigated for interest charges, is also being investigated for an arrangement fee of £562,500, yes that is more than half a million pounds!

£13,981 Too Much

A recent customer has found an overcharge on one account, and an undercharge on another, the balance being £13,981 owing to the customer - the bank refunded in full. The customer, incensed by his treatment has created his own website about the bank. Click here to be transferred to the website and read the full story. The story was also published in the Sunday Times Money section (1st August 2004).

£87K Overcharge

Over 6 years, with an overdraft facility of £100,000, one company was overcharged by £87,000. The interest rate on their account was supposed to be 3% over base rate, but the bank was charging nearer 7.5% over base rate. The bank refunded the full amount of the overcharge.

£60,000 Refund

Analysis on a clients accounts dated back to March 2004 revealed an overcharge - the client has been refunded £60,000 by their bank.

13 Accounts – overcharge total £35K

One company with thirteen accounts (for companies within the group) and an overdraft facility of about £2 million was overcharged by about £35,000 over three years. This was detected using the multiple account consolidation facilities of our software.

Undercharge of £180K

Not something to shout about for the company in question, but – a well known high street bank had failed to charge interest in two consecutive quarters. The total according to our calculations amounted to £180,000.