Introducing

Hello, Welcome to BlueStone Audits.

Here is what we do:  

For the past 12 years we have been auditing business bank accounts. We collect all the relevant information and we process that information using our own in-house software. The software looks at every single transaction that has gone through your account's and calculates the errors. Once we have calculated the overall error, which is usually many thousands of pounds, we then approach the Bank in question and amicably negotiate a settlement figure for you.

When auditing an account, we can go back as far as 1980, but as UK companies are only required to keep records for the previous 6 years, most audits we carry out are for that 6 year period.

We don’t know how many bank accounts are wrong, but in 12 years we have never come across one that was right!

How it works:
It is important to keep it simple. Yes, I know it is an old saying but it is relevant. All bank accounts will be wrong for
several quite simple reasons.
Banks take four or five days to clear payments paid into your account, but this is incorrect. All Banks have agreed
that payments should clear in 3 working day NOT four or five. The result of this is that clients are being charged an
extra day or two of debit interest if they are overdrawn.
Even worse, if a client has exceeded their overdraft limit, they will also be charged penalty interest at a greater rate
and again they will be charged not for three days but for four or five, compounding the mistake above.
In many cases, the Bank charges themselves are incorrect due to human error or systems error and this has a
detrimental effect on the account balance and once again adversely affects the rate of interest the client is either
paying or receiving.
All the mistakes above have a DAILY IMPACT on the account balances so every day the mistake is getting worse.
Finally, all the time the account balance is wrong, our software has the in-built facility to calculate the correct
balance and it charges the Bank interest on the money that SHOULD have been in the clients account but wasn’t
because their figures were wrong, compounding the discrepancies still further.
So, as you can see, due to this simple error on the Banks part 99.9% of all business accounts are incorrectly managed
by the Banks themselves resulting in an ‘overcharge’.
When we process your account information, the actual audit itself is carried out by 3 separate members of our team
who all work in isolation from each other. All three audits must arrive at the same calculation with regards to the
error. This not only gives us an assured quality control but also gives you a TRIPLE GUARANTEE that the audit is accurate.

Case Studies:

PLEASE NOTE: for obvious reasons we cannot disclose too many details on the Internet for security and confidentiality reasons, however please be assured that these are genuine audits completed by our auditors and successfully concluded with the bank in question.

Case Study 1.
Property Company
Audit period: Sept 2001 - September 2007
Overcharge £10,845.42
Bankers - High Street Bank

Case Study 2.
Car dealership
Audit period: March 2000 - March 2002 (please note this is a very short audit period)
Overcharge £32,390.73
Bankers - High Street Bank

Case Study 3.
Nationwide Fashion Retailer
Audit period: September 1998 - March 2001
Overcharge £55,348.99
Bankers - Non UK Bank

Case Study 4.
IT Company
Audit period: December 1997 - September 2002
Overcharge £14,824.62

Testimonials from satisfied clients:

Testimonial 1.
Property Company
Audit period: Sept 2001 - September 2007
Overcharge £10,845.42
Bankers – A well known High Street Bank

The Finance Director - “We found the process very simple and it hasn’t adversely affected the relationship with out Bank”

Testimonial 2.
Car dealership
Audit period: March 2000 - March 2002 (please note this is a very short audit period)
Overcharge £32,390.73
Bankers - A well known High Street Bank

The Managing Director – “The whole thing was much smoother than expected and we had no idea we would recoup so much money”

 

Testimonial 3.
IT Company
Audit period: December 1997 - September 2002
Overcharge £14,824.62
Bankers - A well known High Street Bank

The Managing Director – “We never thought our Bank would be wrong! So to have them return over £14K in overcharges was a big surprise!”

FAQ's

How long does an audit take?
The data entry operation takes about 8 weeks to complete. But this depends on how many years we are auditing and how many bank accounts you have. Plus, to ensure complete accuracy, each audit is completed by 3 separate auditors, so in effect it is a ‘triple audit’.

How long does it take to settle?
Because the Banks know they are not 100% accurate they tend to settle our claims within an 8 to 12 week period.

Why are accounts wrong?
All bank accounts will be wrong for several quite simple reasons. Banks take four or five days to clear payments made to your account, but this is incorrect. All Banks have agreed that payments should clear in 3 working days NOT four or five. The result of this is that you are being charged an extra day or two of debit interest if you are overdrawn, or losing credit interest if you are in credit.

Even worse, if you have exceeded your overdraft limit, you will also be charged penalty interest at a greater rate and again you will be charged not for three days but for four or five, compounding the mistake above.

In many cases, the Bank charges themselves are incorrect due to human error or systems error and this has a detrimental effect on the account balance and once again adversely affects the rate of interest you are either paying or receiving.

All the mistakes above have a DAILY IMPACT on your account balances so every day the mistake is getting worse.

Finally, all the time your account balance is wrong, our software has the in-built facility to calculate the correct balance and it charges the Bank interest on the money that SHOULD have been in your account but wasn’t because their figures were wrong, compounding the discrepancies still further.

So, as you can see, due to this simple error on the Banks part 99.9% of all business accounts are incorrectly managed by the Banks themselves resulting in an ‘overcharge’.

How far can you go back?
We can go back as far as 1980.

How many years can you Audit?
We can audit as many years as you like and go back as far as 1980. However we always recommend that our clients complete at least a 6 year audit. We suggest 6 years for two reasons, firstly all companies must keep the last 6 years records, so those records should be available to audit and also, to do a short period, i.e. two or 3 years will not give a good overall picture of the errors.

What happens to my relationship with the bank?
We have 12 years of negotiating with the banks and always put your relationship with them first. We will never approach your bank without your written authority and bear in mind that the banks know that these errors exist and therefore reach an amicable settlement. The banks do not wish to lose customers either, so once again this means we always reach an amicable outcome.

Are there any guarantees?
No, we cannot offer you any guarantees whatsoever, but what we can tell you is that in 12 years we have never audited an account that was correct!

What are the fees?
We charge £375 + vat per account per year of auditing. Therefore, one account for 6 years will cost £2250 + vat. If you have more than one account, we charge £175 per subsequent account per year. Please note, you are within your rights to add the audit fees to the amount we reclaim from the bank.

 

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