BathroomShop's community profile page

Write a review

Viewing profile for,

BathroomShop

Total reviews written

Helpful marks given to their reviews

Times reviews seen

All reviews (1)

Review of the Zempler Bank (formerly Cashplus), Business account:

View on product page

Refused to incease account amount

I have been with cash plus for 4 years. Each year the amount in the account grows as our income is greater than our outgoings. Until recently the account ran very well for us and we were able to run our business using this account. in 2021 our account held over £50,000. Cashplus contacted us to tell us that our account maximum balance had been reached and that they would return the payment to the payer. I contacted cash plus and they did allow the payment. But told me that my account amount had been reached and I could not hold any more money in the account. I asked if they could increase the account maximum amount to £70,000 or £80,000 to allow us to continue trading and taking money from clients. They said no. This means that we are not able to receive any more payments from our clients. As a Limited company I am not able to take the money in to a private or personal account. I have a duty to the company to ensure we can continue trading. Each year the balance in our account had steadily increased, which shows history of a business balance growing . So I have since opened an account with Tide and will be moving the money from Cash plus to Tide. I will then be closing Cash plus account down. The moral to my story, if you are holding a small amount of money the account is fine, but when you go over £50,000 like our real life example we could not continue trading and taking money from our clients because Cashplus would not increase the amount the account can hold. So had to go somewhere else. To the reader, this isn’t money we owed them, this is money they are holding for us paying zero interest to us. I am amazed. Reviewed on: 24th March 2021

We are helping 1000s to make smarter financial decisions

We use the power of consumer reviews to help increase trust and transparency in financial services and to deliver industry leading insight and events.