Milton Keynes milk man’s profits skimmed by bank fees

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A family dairy that delivers milk to thousands of households is feeling downright sour about a bank charge hike that could cripple its 60-year-old business.

Taylors Dairies, founded by former city mayor David Taylor, has been given notice of a 500 per cent hike in charges from Nat West bank.

This equates to 35p for every transaction - and it will leave the dairy £18,000 a year out of pocket.

Boss Anthony Taylor, who took over the business from his late father, says the company has used Nat West for almost 50 years.

“I don’t mind paying bank charges, but to increase them by 500 percent, with just a month’s notice, is just ridiculous,” he said.

The problems stems from the fact that the company, which sells milk at 65p a milk, has a high number of small transactions.

Two thirds of customers pay online for their daily pintas, while the remainder pay the old-fashioned way, by cash or cheque.

“The bank qualify the rise by saying it take too much time to count up the money” said Anthony.

“But surely we’re not the only business selling large quantities of low value goods. I’d like to know how others are affected.”

Anthony, who is helped by his son, fears he may have to lay off staff to cope with the added charges.

“It’s too much pressure for a small company. It will really eat in to our profits,” he said.

A spokesman for Nat West said the new charging structure was part of a drive to make services simpler and “more transparent”.

“The majority of customers will not see an increase. However some on older tariffs who’ve not had their pricing adjusted over time will see an increase. We are proactively offering guidance to help them.”

Taylors Dairies, based in Bletchley, has 4,500 loyal customers who prefer to have their milk delivered to their doorstep rather than buy it in supermarkets.

Popular city councillor David Taylor founded the dairy in 1956. His son and his grandson now run it - and proudly sill use some of the original milk floats.

For every £3.50 worth of milk Taylors sell, they will have to fork out 10 per cent - 35p - to Nat West bank as an automated charge, Anthony has calculated.