Lloyds TSB changes to charge structure

[royboy68]

Hi all, just recieved a letter from Lloyds regarding changes to current accounts if you go overdrawn, There was me being nieve again thinking wow they are taking notice. Then i woke and read the leaflet.

Quote

 

CAPPING FEES

We are Pleased to announce that we are introducing a cap on returned item fees. This means if you dont have enough money in your account to pay a direct debit, cheque or standing order, we will ONLY apply a maximum of THREE of these charges a DAY. ( Gee thanks )

 

BUFFER FACILITY REMOVED

At present we offer you a buffer facility, which means we do not charge you when you go up to £10 over the overdraft limit we`ve agreed with you. This buffer WILL BE REMOVED, and charges for exceeding any agreed limit will be applied to all current accounts.

 

CANCELATION OF FEE WAIVER

In the past, you may not have incurred a charge for going overdrawn or over the overdraft limit we`ve agreed with you for the first time in any 12 month period. This fee waiver will no longer apply and YOU WILL INCUR FEES from the first time you go overdrawn or exceed any agreed limit.

 

If you hold a Platinum or Premier Account you will continue to benefit from the fee waiver.

 

How wrong could i have been.

[kokomar]

Yep, other half got this too, but I didn't, maybe mine'll show up in tomorrow's post.

[Chrissielr]

I got the letter yesterday, but didn't have the energy to read it, so thanks for picking out the salient points! I think there may be a few more cliams coming in LTSB direction!!

[christinajanep]

is this there way of recouping what they have had to pay out

[reidnet]

I got the same letter this morning...Including 3 copies of the leaflet..you think they maybe trying to tell me summin..lol.

 

I think what the meant to say was..since we have had to pay out dosh to moaning bunch o :!: on CAG we are making it easier for ourselves to take more money off the ones who dont complain.

 

Im sure mine was signed by

 

Mr Robin Barsteward

Customer Services..

[mooreda]

everyone should just choose another bank then - i hate the Lloyds TSB with a vengence - they are just so greedy!

[mooreda]

it's my opinion the bank are trying to collect as much as they can from these default charges before the OFT lthrow the gountlet down at the banks. I can't wait to see what happens and I would personally like a case to go to High Court for a precendent to be set that could see tens of thousands of cases arise where people are demanding the repayment of their money.

[royboy68]

I completely agree Mooreda. When i first opened the letter i was foolishly thinking they had gone the other way but after reading it an taking into account the strong way its worded i came to the same conclusion as you. I was wondering if they are targeting the people who have had charges alone to try and scare them off from making claims. It would be interesting to find out if its a general mailing to all or not.

[elsinore]

It would be interesting to find out if its a general mailing to all or not.

 

Exactly my thought, royboy.

My LTSB accounts are all closed so I am unaffected, but maybe somebody could establish whether or not this is a general letter.

 

If it's targeted at only those who have claimed, then it's retaliatory and should be contested.

 

You can respond to the letter with a copy of the FSA Briefing Note BN023/06 and then complain to The Banking Code Standards Board.

 

Elsinore

[maria100]

Hi all,

I recd this letter too and haven't even started on LLoyds yet so it seems it a standard letter to all customers!!

[ukaviator]

It's all customers. I had a letter yesterday.

 

Uk..

[kfdh1962]

Hi Royboy,

i got the same letter last night when i got home. I am in the process of claiming, but this definately appeared to be a general mailshot rather than aimed at those who are claiming

[reidnet]

Could this mean that they already know that the are going to have to reduce the charges, and this is a way of making sure that they can apply even more charges in an underhand way.

 

Not too sure but I always thought that they would only apply a max of 3 charges per month..Now its up to 3 times per day...

 

Suppose they have to get their Christmas Bonus somewhere..

 

I know as soon as my Claims are settled with Lloyds Im moving to another bank and will state their new policy as my reasons.

 

Ian

[reload]

Can't say I've received one of these yet - but then again, I'm not one of Lloyd's favourite people