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Today I have been charged £30 on my Lloyds TSB current account for spending over the limit. Now I am not surprised that they have attempted to charge me, but £30?? Isn't this indisputably wrong according to the OFT report of last year? I thought all banks had been duty bound to reduce all their charges to a maximum of £12 in the meantime. Both my credit cards (including Lloyds TSB) dropped them to £12 some time ago. Are there different rules for current accounts?

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The OFT suggested that £12 should be a figure for Credit Cards, They didn't say anything about banks.

They have no power to set or enforce any limits, just to suggest them.


BUT even £12 is too much, so claim for both, cards and bank accounts.


Have read of the site, there is a thread refering to the OFT report, if you want to read it to understand a bit better.


Anyway glad you ve come to the right place and lets help you to get those charges back

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Thanks for clearing that up. I have read quite a bit and do plan to claim all charges, even the £12 ones, but I am surprised to learn that the OFT suggestion didn't apply to current accounts also. It's shocking that they can still get away with £30 when the "adminstration costs" can't be much different to credit cards.


I am currently testing the water by trying for my Barlcaycard charges back. The reason I am a little hesitant with Lloyds TSB is that I still have £2.5K on the credit card balance with them, and I'm not in a position where I could immediately pay this back should they close the account. I don't have another card with such a high limit (and probably couldn't get one right now).

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The OFT report primarily focused on credit cards, although they did state in it that the principles of the findings would apply to all default fee's. The specific current account report is due out this year, although don't expect anything spectacular!


I'd also disagree with the comment that the OFT can only make suggestions. They are a public regulatory body, they have powers of enforcement if they choose to implement them. The £12 was a maximum threshold that they set above which they would have taken action, had the CC providers not reduced them subsequent to the report.


In fact, the OFT are the one's who have the power and resources to sort out this whole mess - they have stated that default charges levied by the financial industry are contrary to the UTCCR's - yet the banks are still levying them with impunity.

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