We have gone over our agreed overdraft limit, Lloyds TSB charge us £30 and charge us that amount each day our overdraft increases by £30 or more and they will do this up to a maxiumm of £90 each month. When we borrow more that the amount we agreed they charge us a highter rate of interest, which is currently 2.20%, which works out an equivanlent annual rate (EAR) of 29.8%.
We have always had an overdraft limited and many times have gone over our agread limit each month, we pay an over draft interest fee and an account charge each month too.
When we phone them they are more than happy to increase our overdraft limited, this puts us into more debt as we never can get out of this and end up paying charges that we can't afford.
Do we have a case? or are they within their rights to do this to us?