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lloyds bank charges


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As a loyal customer of Lloyds TSB, with an agreed overdraft and balance text alert, how is it that i can be told that if the account goes overdrawn, there is a one off fee of £15 and a DAILY charge of £15 whilst overdrawn. Effectively having the potential of a monthly penalty of £450? Can this be lawfull? a uk based c.s.a from Lloyds told me that the fee is payable on a daily basis with no max ceiling to prevent excessive charges being applied to the account.

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You say you have an agreed overdraft?

I have an agreed overdraft with lloyds and I pay a monthly account fee plus the usual overdraft interest, clearly nowhere near what you claim to be paying.

Something seems wrong here.

I am sure someone in better position will be along soon to advise.

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That sounds about right (according to their charging structure). Me and my wife are in a similar predicament over an unplanned overdraft... currently looking into the options open to us right now.

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For some reason I cannot start a new thread, can a mod please look?

Anyway, received a letter from Tsb stating from December they are introducing a £5 per month fee on arranged overdrafts.

I already have a fee to pay for their select account.

So my thinking was, if I have to pay the account fee plus the £5 overdraft fee and interest on top for any overdraft I use I will be worse off.

Just got off the telephone to them, via the phone number they provided, which seems to be dedicated to this issue 0800 731 0217 and unless the person I spoke with told me otherwise I will be better off ?

Seems that from December there will be no interest applied for the overdraft, just the £5 monthly fee and obviously the account fee I currently pay.

Which on average will make me around £20 per month better off.

Or is there something I missed ?

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As a loyal customer of Lloyds TSB, with an agreed overdraft and balance text alert, how is it that i can be told that if the account goes overdrawn, there is a one off fee of £15 and a DAILY charge of £15 whilst overdrawn. Effectively having the potential of a monthly penalty of £450? Can this be lawfull? a uk based c.s.a from Lloyds told me that the fee is payable on a daily basis with no max ceiling to prevent excessive charges being applied to the account.

 

You will pay a daily fee for using an Unplanned Overdraft. The amount of the fee will be worked out at the end of each day (including weekends and bank holidays) on the balance of your Unplanned Overdraft.

We will charge you a maximum of 10 daily fees in a monthly billing period

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You will pay a daily fee for using an Unplanned Overdraft. The amount of the fee will be worked out at the end of each day (including weekends and bank holidays) on the balance of your Unplanned Overdraft.

We will charge you a maximum of 10 daily fees in a monthly billing period

 

They have a scale depending on how far you are over your limit

 

Bet they charge the 10 highest rather than the first 10

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