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Independent Banking Advisory Service 

Established in 1992

Business Bank Overcharge/s - IBAS 'in house' bank auditing began in the mid 1990's and considerable bank interest overcharges and refunds have been reclaimed for our members with debt reduction and security issues negotiated (see below). IBAS business banking dispute negotiating experience provides you with a proven strategy for business bank customers seeking to verify commercial bank loans, bank overdrafts or bank business mortgages for accuracy and to eliminate historic or current bank overcharging of their accounts.

Is complaining to the FOS worthwhile for an SME or smaller business? - IBAS found the FOS will rely on the bank's figures or a recalculation by the bank which is not reassuring and will not be an independent verification. When considered against all the bad press generated on banks and how they have manipulated rates, LIBOR,SWAPS and PPI for their own benefit - the FOS route appears to be completely flawed. Also, when IBAS has 'checked' accounts which banks had 'recalculated' and then paid back 'overcharged' interest - the actual payment made by the bank was considerably underpaid.

IBAS had obtained in excess of £21 million in refunds, write-offs and write-down of bank debt from our investigations of UK Business Banking Disputes when we stopped counting (many years ago) and we stopped 'counting' because we realized that the numbers meant very little to the individual because each individual's business banking debt is what really matters and it's their personal assets at risk from the bank's 'plundering' if their business fails. Also, it's their Director's Personal Guarantee which will be 'called' by their bank for 'payment on demand'.

Independent Banking Advisory Service (IBAS) - IBAS launched in 1992 as a specialist unincorporated business banking membership organization assisting bank customers with UK business banking account/loan account/mortgage account and security disputes and business banking debt disputes. Our bank analysis and investigation of business bank loans, bank accounts, banking contracts, business banking account facilities and banking debt recovery information has been instrumental in our member's success.

Commercial Property Mortgages - IBAS has seen commercial property mortgages during the last year where the bank has incorrectly charged interest and also incorrect margins as far back as 2005 up to date. That can also mean the bank has involved their 'Specialist' bank department who have inflicted Excess and Penalty interest on Commercial Property Mortgages where they should not have done so - reducing company profits and opportunity. This is not just one bank. The amounts are considerable. The results of such bank conduct if left unchecked or unidentified where the company trading is already reduced or is under pressure will inevitably create a default. That in the circumstances outlined would represent a 'False default' which is 'created' by the bank. That creates an insolvency situation where the bank's conduct can go entirely unnoticed despite property and assets being devalued and then 'lost' by the business. At that stage, Director's personal guarantees to the bank will also be 'called upon'. The FOS only deal with smaller company matters. Therefore, if your business has any doubt/s regarding a commercial property mortgage, it's term, payments made or the bank interest that has been taken or charged contact IBAS now with your details to make certain that your position and your company position is properly protected and also documented.

 

IBAS is now in it's 25th year helping/guiding those with UK Business Banking disputes and Director's Personal Guarantee business debt claims - IBAS is the only UK non profit organization which provides business banking customers with specialist business banking assistance and specialist business banking guidance and also IBAS specialist business banking investigations.

IBAS comments on UK banking news 2017

IBAS business banking dispute negotiating experience has a proven strategy which provides claims and defences for business bank customers. IBAS has excellent banking investigation reputation and has featured on BBC TV, BBC TV News, ITV, Meridian and Sky News and contributed to editorials and articles for the Sunday Times, Times, Daily Mail, Daily Express and Daily Mirror.

It was because of the many IBAS investigations into business banking accounts and overcharged interest that IBAS presented a report to the Rt Hon. Gordon Brown MP and to the Treasury. The IBAS report evidenced interest overcharging of UK Business Banking customer's accounts by all major banks. The IBAS report was also sent onto Cruickshank's Review Team to assist them in preparing the Cruickshank's Report (2000).

IBAS provided the Cruickshank Banking Review Team investigation with specific bank and banking information. That information came from IBAS internal research on banks and business banking account investigations which had been carried out by IBAS's internal UK business banking account audit team.

Businesses with turnovers of less than £5m a year wanting to challenge their banks on overcharging of business bank accounts, loans and mortgages is difficult without specialist assistance and knowledge of how the banks charge the account/s, as with overdrafts bank interest is charged on the daily cleared balance, which is not the same as the balances shown on your bank statements. Also, interest is calculated by reference to a fixed percentage over bank base rate, or in the case of some financial institutions, by reference to its own ‘base rate’, which may be linked to the more volatile Libor (the rate at which banks lend to each other). 

To calculate bank interest charged on an overdraft you need to do a daily calculation using an interest rate that may fluctuate frequently. If the interest rate charged is incorrect, then the daily cleared balances will also be wrong due to the compounding effect of incorrect charges over time. Banks will also amalgamate company accounts for their benefit, which means that firms are charged interest on the daily cleared net amount owing on all their accounts together. This is the sum of all the overdrawn balances on each account less the sum of the credit balances - which makes company bank account interest charging even more complicated. However, Bank errors can result in punitive rates kicking in prematurely creating sometimes disastrous results.  Large companies have a treasury department which carries out such work but smaller companies require 'outside' specialists such as IBAS to assist.

IBAS assisted Cruickshank's Treasury review team's 'understanding' of how UK banks overcharged and how UK Business bank overcharging was then concealed by banks. Many 'banking experts' refused to assist Cruickshank with his enquiries into the banking industry and were not prepared to evidence what they had claimed. As these 'banking experts' were commercial profit seeking entities IBAS assumed their reticence was either due to their belief that banks would penalize them for doing so or their fear of the banks in more general terms.

IBAS directly assisted the Treasury review team with their UK bank overcharging review into how banks concealed business banking account interest overcharging after being challenged. The Cruickshank Final Report of 2000 identified interest overcharging on UK business bank accounts as being a major issue and the lack of transparency by lenders on legitimate overcharging complaints was identified as a major factor in the industry.

Because IBAS were able to recognize and calculate business bank account overcharging we were able to prevent property repossessions and cases of bank asset stripping. The knowledge provided by many bank overcharging 'cases' plus the ability to calculate and prove bank overcharging provided IBAS with an important 'tool' for all our case work. That 'tool' also provides the ability to create defences and counterclaims for our members and made successful case resolutions possible.

Director's Personal Guarantee Bank debt claims and Business Banking Debt claims can hide 'overcharged' accounts and 'overcharged' fees and interest. Successful bank negotiations are considerably enhanced by IBAS business bank account investigations and our knowledge, experience and research on all major banks. IBAS is established in a unique niche position for negotiating specialist and specific business banking issues with all banks and provides confidentiality without any conflicts of interest.

LIBOR or Base Rate - do you know how the bank calculates your overdraft, loan or mortgages and whether it is actually correct? Over time 'incorrect' bank charging makes a considerable difference and will also accumulate additional interest which is compounded year on year.

Has your banker evaded simple questions? That may be because they wish to ignore the questions because banks often 'force' account lending changes for their financial benefit i.e. changing from Base rate as the lending benchmark onto a LIBOR rate - these 'changes' create overcharging 'opportunities' for banks as they allow manipulation of the figures. That is also the case where a ' consolidation' of borrowings takes place - it provide banks with opportunities to overcharge and continue overcharging interest on an incorrect balance. IBAS evaluate the overcharging 'opportunities' and negotiate positive changes for the customer's benefit.

IBAS do not accept any debt claimed by a lender on 'face value' and our investigation of Banking debt claims for companies, Director's Personal Guarantees, Company legal charges, mortgages or property security is carried out before any negotiations take place with a bank or lender.