Because of the many investigations into overcharged business accounts we presented a report to the Rt Hon. Gordon Brown MP. It was used in the Cruickshank Banking Review team's investigation. We directly assisted the review team in their understanding of how bank overcharging took place and how banks continued to conceal interest overcharging, even after they had been challenged. 

The Cruickshank Final Report identified debit interest overcharging on business bank accounts as a major problem. IBAS believe that £5 billion was taken by the banks from business accounts without approval or proper agreement and that amount still remains unclaimed. The lack of transparency by lenders when faced with legitimate complaints was identified as a major problem within the industry. It is an issue which we have raised many times over the last 17 years.

It's natural you will want to know our 'pedigree' - visit UK Bank News 2009 for most recent Banking News and you will also find our national newspaper comments plus many more in the News and archives sections of our site - see our site map. IBAS has featured in BBC TV and ITV News items and programmes on banking and the banking issues many times since we were established in 1992.

Including...BBC TV News interview with Eddy Weatherill our chief executive - Banks & Small Businesses....Sunday Times Small Business - Secrets of the high street ‘muggers’ – Many entrepreneurs stay with their local branches even after discovering they are paying too much – Eddy Weatherill of IBAS which helps businesses to reclaim overcharging says: “Banks are always looking for a way of massaging a few pence out of a transaction to get a profit they shouldn’t have. And most people don’t check their statements”

and .....Financial Times - Lloyds accused over business charges - A report to Gordon Brown Chancellor of the Exchequer will accuse Lloyds of increasing charges by switching to a new system of calculating interest rates. (That report was provided to Cruickshank for his investigation into banking services and charging). and....Sunday Times - Lloyds Accused on firms receivership - IBAS gains £25,000 payment offer for overcharge error......The Times - Beware of bank blunders plundering your profits - "The banks are overcharging in so many different ways

Overcharging of business bank accounts has continued throughout the last decade. The  Government's investigation into banking services (Cruickshank Banking Review) proved three quarters of businesses were at risk from overcharging or had been overcharged by their bankers. Cruickshank's Final Report in 2000 was damning on the banking industry but was 'watered down' by Government and not fully implemented.

Negotiating a settlement with your bank

Bank errors also affect factoring, invoice discounting and capital accounts. Errors can be considerable - the majority favour banks.

Our 'in house' bank auditing began in the mid 1990's - and considerable bank interest overcharges and refunds have been reclaimed for members with debt reduction and security issues negotiated.

Successful bank negotiations are enhanced by IBAS business bank account investigations and our previous research on all major banks. We are established in a unique niche position for negotiating specialist and specific issues with banks with complete confidentiality and without conflicts of interest. Investigation of Guarantees, legal charges and/or other security is carried out prior to our negotiations with a bank or lender and we do not accept any debt claimed by a lender on 'face value'.

Considerable debt relief and refunds of bank overcharging and bank error has been obtained for members following our investigations into UK Business Banking Disputes since 1992 and we have saved our members in excess of £21 million in refunds, write-offs and negotiated write-down of bank debt.

IBAS is totally independent. Our business banking archived information and experience gathered from 17 years ‘case work’ for members, provides you with unique, confidential, professional business banking advice and assistance. Those factors combined without any conflicts of interest or threat to your business position, means that IBAS can really make a difference for you in dealing with your bank. email us for help.

Independent Banking Advisory Service (IBAS) is a national, independent, non-profit, unique specialist banking customer membership organization which resolves banking complaints and disputes and which has campaigned on UK Banking customer issues since 1992. We provide bank and banking assessment, analysis, bank comment and content for BBC TV News, ITV, Radio and national newspapers, keeping many serious banking issues 'alive'.