Advice Needed

[slickboy]

ok

My brother owns a young landscaping business as a sole trader.

He has a business account with Barlays. Last year he got into difficulty and was bouncing cheques and DD's all over the place as (not helped by never negotiating an overdraught.). The result was charges comming in at £125 a week at one point which was killing him, and the final figure was a few thousand in charges alltogether.

He didn't go bankrupt and is now just becoming solvent and the business is doing well.

He wants to file a claim against barclays for the whole amount BUT i'm aware they could close his account and so he would need another account to run his business. He obviously has poor credit history and so im wondering if he could only get a basic account without a cheque book now as this would make life very difficult.So:-

Is it likely he'll have his account closed if he proceeds?

What options are there available if they do threaten to close his account, bearing in mind he is in credit with barclays and going from strength to strength?

Any advice appreciated, Thanks.

[alanfromderby]

It is advisable to open an account elsewhere in case his bank turns nasty. Natwest Step A/c is a good bet - they also offer Business a/c's as well.

[Guest red_ratty_rat]

Hi, I used to have a Business Account with Barclays Bank which I moved to NatWest with an overdraft of £10,000 (£15,000 now)

 

NatWest are a much more supportive of my business and bank charges are free for first 12 months!

 

I suggest he moves his Business Banking

[slickboy]

Thanks for the replies you two. I'll update when he has his new account and starts action against barclays.

[slickboy]

This topic was closed on 03/07/19.

If you have a problem which is similar to the issues raised in this topic, then please start a new thread and you will get help and support there.

If you would like to post up some information which is relevant to this particular topic then please flag the issue up to the site team and the thread will be reopened.

- Consumer Action Group