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potential commercial fraud by Lloyds

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Good afternoon all

 

I have taken a very vital case against Lloyds and this time it will be us (consumers) who are in a stronger position than the Bank. I have taken them to court and despite the fact that they have tried everything to drop the case; the Judge has given us a date. They are throwing money at me to stop the case "as a gesture of goodwill"

 

I am a very specialised Financial analyst and I believe that I caught them in a fine line which will potentially cost them millions of pounds hence wise they are trying to close all the back doors for others to follow me and changed their T&Cs in legal phrases.

 

Now can anyone please explain to me what is the difference between "Planned" and "Arranged" in legal terms?

 

the phrase in banking term will be "planned overdraft" vs "arranged overdraft"

 

Secondly can anyone please guide me where it is referenced on Government's websites for the phrase of "Business Days/working days" as well as "Bank Holidays"

 

Thank you in advance for your help

 

Regards

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https://en.wikipedia.org/wiki/Business_day

 

This is all I could find in respect of your Business/Working Day query. From what I read, there is no difference. However could not track down anything to differentiate between a 'Planned' or 'Arranged' overdraft.


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There is no difference between the terms "planned" and "arranged" overdraft, different banks just had a preference for one word over the other. Lloyds always used to use the term "planned" though I believe this has now been standardised and all banks use the term "arranged".

 

The Payment Services Regulations offer some insight into the meaning of business/working day: "any day on which the relevant payment service provider is open for business as required for the execution of a payment transaction".

 

Surely bank holidays do not need a special explanation?

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Hi Jane

 

Thank you for your response; I have consulted this issue with an old friend and according to him there is a slight difference between the phrases of "Planned" and "Arranged"

 

"Arrange" comes from a French background means

 

"To prepare and adapt an already-written composition for presentation in other than its original form."

 

Adapt is the vital part here because Plan contains technical details of the agreement with using symbols (in our case numbers like interest or the duration etc)

 

A plan ("set of intended actions") can be developed, executed, implemented, ignored, abandoned, scrapped, changed, but can not be adapted.

 

As far as I can understand, the plan distributes the power equally between the bank and the consumers in advance but arrange gives the bank a choice to exercise its initiative as and when.

 

I think there is a door left opened here against the bank from 2013 to 2019; would be good to have a more insight of this financial terms

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My Last question is whether the Consumer Credit Act applies to the Overdrafts like it applies to Credit Cards?

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