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Digging out Old Terms & Conditions... since Lloyds ruling


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It has come to my attention, by reading on here and listening to the BBC interview with Mark Gander (on this site) that it may be of interest to dig out the old agreements we agreed to when opening our bank accounts.


I have my Barclays account info booklet (from 2001) and the interesting thing is that section 7 (Borrowing from us) subsection 1 states that:



You must keep your accounts(s) in credit unless we agree an overdraft with you.



This may address the issue that DJ Cooke had about how it is not a breach of contract if you go overdrawn, write a cheque when funds are unclear...etc.


Also, 7.4. states that



If you

-overdraw without agreeing an overdraft with us; or

-exceed an agreed overdraft limit;


we may ask you to make an immediate payment into your account and we may charge our unauthorised interest rate and fees on the amount of the overdraft or excess until either it has been repaid or we have agreed an overdraft or an excess limit.



This, IMHO is the paragraph that "allows" banks to circumvent penalty laws, by referring to them and making them part of the contract to which you have agreed to. This is also not allowed by law.




Although I am only a new poster on this site, I hope that this will be useful to those "higher up the chain" who will be able to interpret my raw info and turn it into something we could all use.


I should also be able to dig out info on other bank accounts that I have held (eg. NatWest & Abbey National); if someone thinks that they may be of any use.


Maybe a mod or someone could comment on this....

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Go here, and there are some links for you to email anything you have to the Mods. No need to post your comments again, just get the details you have, scan them and email them to those in the know.

Best regards




All opinions and advice I offer are purely my own, and are offered without any liability. If unsure seek the help of a licensed professional

...just because something's in print doesn't mean its true.... just look at you Banks T&C's for example !

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The response to the request for T&Cs and other material has been quite poor.

If you have material then please send it and let us have a look

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