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Is this LloydsTSB way of skirting the unfair bank charges?


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Just read the new terms and conditions for unplanned overdrafts from LloydsTSB instead of the maximum of £90 a month the charge can be as high as £200 for going £100+ plus a £15 there and then when you go over your limit which of course will tip you even further over your limit

so even though they are stating they have reduced their unplanned overdraft fees they have in fact more than doubled them


Monthly fee £15 You will pay this fee if you have an Unplanned Overdraft

at any time during your monthly billing period (even if

your next monthly billing period is only a few days away).

We will charge you a maximum of one monthly fee

in a monthly billing period.

Daily fee Unplanned Overdraft balance is:

less than £25 £6 a day

£25 to £100 £15 a day

more than £100 £20 a day

Please note, an Unplanned Overdraft continues until it is repaid. So, at the start of any monthly

billing period, if you still have an Unplanned Overdraft from the previous monthly billing period,

you will incur a further monthly fee and up to another 10 daily fees (depending on when you pay

it back).


hope that makes sense

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They are clearly trying to play one game on overdraft 'fees' and another on returned item charges.


If they return an item, they will charge you £20 per item, upto a maximum of £60 per day. So if you have 10 items returned on one day (because they haven't cleared, say, a salary cheque) you will pay £60 and if they return just 3 the next day you will also pay £60. They could return 21 items in one day and charge £60 or 21 items over 7 days and charge £420. It is pretty laughable from the point of view of reflecting the bank's actual charges. Either it costs £420 to return 21 items or it doesn't.


This is just finger in the air stuff and they are flailing about madly to attempt to sound reasonable.


The really serious amounts of money we all know is not around overdraft fees (the media just don't get this, do they?) it is aroung returned item fees. They still skirt round the issue of whether the fees they are charging are fair and representative of the actual costs incurred in each individual charge item.


The media have presented this as Lloyds TSB slashes charges. We know it's nothing of the kind. We could all apply the new rules to how our charges arose in the past and we will see we would be paying similar overall penalties, if not more.


They seem to be actually setting up 'things to do' when an account might go overdrawn or over a limit to create the impression that it is not automated. They may even have delberately employed more actual people to pretend to be 'doing something' whenever any individual customer/victim presents a Direct Debit or Cheque which would take them overdrawn/over a limit. This is the real game. Is it automated or not?


They may have started deliberately to stop automating it because they know they can still make a good margin on it when it's not. They already factored in they can't win the argument at all when it's actually automated and they could end up with zilch. At least the new way makes them make a bit of dosh. Look out for attempts to present the process as un-automated. De-automated, more like.


There is no change here from the basics - are the charges fair, do they represent the real loss to the bank? £20 a day, £420 a week?


I would love to do a job which earns me £420 per week for dealing with three events each day.


As a comprehensive school teacher, I'm afraid my job's a bit more complicated than that! Pays about the same!

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