How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask F E Smith Your Own Question

F E Smith
F E Smith, Advocate
Category: Law
Satisfied Customers: 9181
Experience:  I have been practising for 30 years.
18203470
Type Your Law Question Here...
F E Smith is online now

I recently changed from a Sole Trader to a Limited company

Customer Question

I recently changed from a Sole Trader to a Limited company and needed to change my bank account with Barclays. They mis informed me to start with by saying they could just change the name. They then told me I had to write in after waiting two weeks. After another few weeks they told me I had to go into branch to open a new account as they could not just change the name. I waiting two weeks for an appointment and then went in with all the required paperwork. It then took 6 weeks, when it should be 5-10 working days as the business manager did not process anything. It then took another two weeks to be able to use the account after my complaint. All the time I waited I could not process any cheques and this had a massive impact on business and my reputation as I had no money to operate with, I even had to ask my clients to purchase their own products for me to install as I could not purchase them. I am now sat at home with time to write to you as my business is just about finished after trying to build it up over 9 years all as a knock on effect of what happened and my clients losing faith in me. The bank compensated me with the first mis information and repaid charges, they then offered me compensation for the second batch of errors which I told them it was not good enough, the second tier complaints team actually offered me less than level one complaints. I refused the compensation but they said it would go into my account anyway as this is all they could do and if I wanted to take it further I could go through the Ombudsmen. I haven't done this as I would rather seek legal advise as myself and now my family are struggling to recover from these errors. I feel immense pressure and I am now constantly stressed, I am taking medication for depression anyway and struggling to cope with the whole situation.
Is this something I should pursue via a legal route or would I just have to go to the Ombudsmen?
Your advise would be helpful
Kind regards
Chris
Submitted: 8 days ago.
Category: Law
Expert:  F E Smith replied 8 days ago.

Some bank staff really do not know what day of the week it is although I’m certain when it’s Friday and they’re about to have the weekend off, they instantly become aware.

You can of course sue the bank for breach of contract but the litigation is likely to be long and drawnout and could easily last 12 months or longer. In addition, the bank may decide they no longer want your business so it’s always worthwhile looking for another bank at the same time.

This kind of litigation is expensive and risky and do remember that the bank have unlimited funds to defend any legal action you bring.

For that reason, if I were in your situation I would make the complaint to the Financial Ombudsman and be stuck with that decision.

If you do pursue a complaint against the bank through the courts they can tie you up in legal red tape for years even though you may have a good claim at outset. Could well run out of money to fund the litigation in the interim where as they have plenty.

Can I clarify anything else for you?

Please take a moment to look at the top right hand corner of the page and rate my service by clicking one of the stars at the top of the screen. Then press Submit. Thank you. If you still need any point clarifying, I will still reply because the thread does not close.

Best wishes.

FES.

What Customers are Saying:

 
 
 
  • Thank you so much for your help. Your answers were really useful and came back so quickly. Great! Maggie
< Previous | Next >
  • Thank you so much for your help. Your answers were really useful and came back so quickly. Great! Maggie
  • A quick response, a succinct and helpful answer in simple English. I believe I can now confront the counter party with confidence -- worth the 30 bucks! Rick
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C.
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex
  • Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP
  • I couldn't be more satisfied! This is the site I will always come to when I need a second opinion. Justin
  • Just let me say that this encounter has been entirely professional and most helpful. I liked that I could ask additional questions and get answered in a very short turn around. Esther
 
 
 

Meet The Experts:

 
 
 
  • Jo C.

    Jo C.

    Barrister

    Satisfied Customers:

    31432
    Over 5 years in practice
< Previous | Next >
  • http://ww2.justanswer.co.uk/uploads/EM/emus/2015-7-7_192327_bigstockportraitofconfidentfemale.64x64.jpg Jo C.'s Avatar

    Jo C.

    Barrister

    Satisfied Customers:

    31432
    Over 5 years in practice
  • http://ww2.justanswer.co.uk/uploads/BE/benjones/2015-12-1_0437_ennew.64x64.jpg Ben Jones's Avatar

    Ben Jones

    UK Lawyer

    Satisfied Customers:

    13955
    Qualified Solicitor - Please start your question with 'For Ben Jones'
  • http://ww2.justanswer.co.uk/uploads/BU/Buachaill/2012-5-25_211156_barrister5.64x64.jpg Buachaill's Avatar

    Buachaill

    Barrister

    Satisfied Customers:

    2251
    Barrister 17 years experience
  • http://ww2.justanswer.co.uk/uploads/JO/jojobi/2013-3-19_0265_maxlowryphoto.64x64.jpg Max Lowry's Avatar

    Max Lowry

    Advocate

    Satisfied Customers:

    894
    LLB, 10 years post qualification experience
  • http://ww2.justanswer.co.uk/uploads/UK/UKLawyer/2012-4-12_9849_F2.64x64.jpg UK_Lawyer's Avatar

    UK_Lawyer

    Solicitor

    Satisfied Customers:

    758
    I am a qualified solicitor and an expert in UK law.
  • http://ww2.justanswer.co.uk/uploads/KA/Kasare/kasare.64x64.jpg Kasare's Avatar

    Kasare

    Solicitor

    Satisfied Customers:

    402
    Solicitor, 10 yrs plus experience in civil litigation, employment and family law
  • http://ww2.justanswer.co.uk/uploads/OS/osh/2015-7-7_19268_gettyimagesb.64x64.jpg Joshua's Avatar

    Joshua

    Lawyer

    Satisfied Customers:

    8199
    LL.B (Hons), Higher Prof. Dip. Law & Practice