We are a small local business who have banked with a leading high street bank for five years.
The recession has restricted the flexibility the bank afforded us, but we have always been allowed access to un-cleared funds.
We bank several cheques daily with an average customer spend of around £100.
Historically only three cheques have been returned during the past five years.
The other day our account showed 10 items returned as there were not enough cleared funds to cover them, even though there were un-cleared funds we thought available as had been the case for the past five years. These items were our staff salaries and other important supplier payments.
We contacted the bank in shock and were informed that we no longer are allowed access to un-cleared funds – this was part of the newly implemented ‘real time’ banking system and they were not obliged to inform us of this particular change to our services as we were “one of many”!
The recession has taken its toll on small business, and the banks are adding to the already difficult and unfair situation, despite being awarded millions by the government to assist with their own financial crisis.
Mrs Samantha Langdown, New Road, Bournemouth
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