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Lloyds sent account overdrawn with own charges


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Morning all, I have had ongoing problems with Lloyds since last year since they decided to split things, I was told I would no longer be under one manager who I had direct contact with through the North Midlands Agriculture ofice as this would be closing and I would have to deal with the call centre managers, for the last year

 

I have had no sense out of them when contacting them and not even a letter of acknowledgement when writing to them never mind a reply, anyway to the crux of the matter, things have been tight on the business last couple of months and I have gone over the overdraft a few times,

 

however despite me trying to talk to them about it nothing has been resolved and now they have started bouncing direct debits and cheques if they would take it over, however when applying thier own charges they have allowed these to take it over which I will then be charged on again no doubt, any advice appreciated, getting sense out of a call centre manager is like getting blood out of a stone!

Edited by citizenB
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I think you should request a meeting to discuss the account, provided they don't charge for the meeting. You need to look through the statements to see where they have applied charges and see whether these were correctly applied or not. If you issued a cheque or a DD was due that would have gone over the ovderdraft limit, then they will bounce these and then apply the relevant charge. The charges may then take the account over the overdraft limit. The charges would be per the account terms, but i am not clear whether they can penalise you for exceeding the overdraft purely due to charges applied. Think you would have to submit a formal complaint to Lloyds and threaten to involve the FOS.

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I'm working on a sideways attack at the minute because my father also banks with them and it appears that the North Midlands Agriculture office never was closed as he is still under them with direct contact to his relationship manager who is apparently one of the helpful ones, so I have made a list of the charges and printed off copies of the letters that were'nt responded too and he is going to have a word with him and see if he can sort out whats gone on.

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things have been tight on the business last couple of months and I have gone over the overdraft a few times, however despite me trying to talk to them about it nothing has been resolved and now they have started bouncing direct debits and cheques if they would take it over, however when applying thier own charges they have allowed these to take it over which I will then be charged on again no doubt

 

An unplanned overdraft (i.e. borrowing above your agreed overdraft facility) is not guaranteed.

 

As you are already aware, there are charges for payments being returned. These charges are automatically debited from your account usually at the beginning of the month. Not having the funds available in your account doesn't void the charges - they still apply and they will still be debited, taking you into an unplanned overdraft (which you will pay more for). This is allowed as per the terms and conditions of the account and pretty much every UK bank account works in the same (or a similar) way.

 

Have you spoken to one of the business managers on the phone about potentially increasing your overdraft?

 

I'm working on a sideways attack at the minute because my father also banks with them and it appears that the North Midlands Agriculture office never was closed as he is still under them with direct contact to his relationship manager who is apparently one of the helpful ones

 

Does your fathers business have a higher turnover than your own? He might get the benefit of a dedicated Relationship Manager because of this.

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Hi yes spoken to them about increasing the overdraft and got the "maximum exposure" response despite all the borrowings being secured and the existing loans being paid down enough to leave some leeway on the security, I've had no response to letters sent to them either, it's like dejavu I could be dealing with TSB 20 years ago which is why I took the business account off them before, my fathers business does have a higher turnover but for the last 15 years we have both been under the same relationship manager through north midlands agriculture, agricultural businesses like mine and my fathers are usually under an agricultural manager as they have more understanding of the seasonal cash flow problems of our businesses, though I suspect I am now under a normal business manger which is whats causing the problem, although as I say getting anything out of them is like getting blood from a stone.

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  • 3 weeks later...

Latest update, apparently I am now under retail business banking and my dad is under commercial business banking due to differences in turnover, Lloyds apparently no longer have dedicated agricultural managers! Advice from my dads manager was basically to bend over and take it as if I continue to complain and kick up a fuss they may close the business account (wonder if he used to work for Natwest with that level of helpfulness) anyway after spending 15 minutes trying to get through the call centre whilst returning a missed call from the business manager (absolute farce, asking me security questions relating to our joint personal account which I have nothing to do with as they were repeatedly told) I finally got through to a helpfull and understanding manager, although when she asked me what my business was, I wasnt sure quite what to think I have been under retail banking for two years! Anyway outcome is fingers crossed they are going to waive last months charges to give me a chance to catch up, however I am still recieving letters of concern requesting information be supplied by x date but not stating what this information is, I have now written to them for the fourth time explaining I am not being awkward and I'm happy to supply the information if they tell me what it is, the last 3 letters have gone unanswered so I'm not holding my breath.

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I think perhaps you should be sending your letters to their Head/Registered office - pointing out that they are not making life easy for either you or them - if they don't make it clear what information is required.

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