Last Change:
Tue August 01, 2006
© 2007-2008
Hampton Software Ltd
Web site by:
Hampton Software Ltd
|
How to spot overcharging
Do you think you have been overcharged?
If so, here is our guide to help you decide:
-
Have a look at the interest charges over as long a
period as possible. Do any of the charges appear to be out of step without
reason? Are you staying within the limits set by the bank?
-
Add up the statement balances in a high overdraft
period, then multiply by the agreed percentage and divide by 36500. The result
should not be less than about three quarters of the amount charged. If it is,
then further investigations are indicated.
How do you proceed if you wish to challenge the figures?
-
Make absolutely sure that the banks statements are
complete.
-
Gather together all correspondence to and from the
bank.
-
If your business deals with a lot of cash, collect
together all paying-in books in order that the cleared and uncleared credits
can be separated in order to compare with the bank's credits.
-
Seek advice and/or
software
|
|
