Lloyds TSB: Another Victory for the Whingers

alexjohnson wrote:

Got a letter from LTSB yesterday with the terrific news that as the number of bank charges you can accrue has been reduced in a monthly period (to be seen to be "listening" to the OFT nonsense), they are withdrawing the one "free mistake" they allowed per year, and will be charging now if you overdraw beyond an agreed limit by any amount, rather than by a clear £10.

I benefited from the "free mistake" earlier this year and was so pleasantly surprised I wrote about is on the 5 Star Service board, and while I don't use LTSB as my main current account, I was impressed.

But no, those who do occasionally just forget about a cheque or perhaps get their mental arithmetic wrong will now get penalised, while those who are disorganised not just once but all the bl**dy time will pay less. And this is supposed to be a good thing? Makes my blood boil.

Don't worry, Im sure this (and other) boards will be in-undated with messages soon about how people are going to also claim back 'easy' cash from this new charging structure which rewards bad finance management and penalises people who are good at managing their finances who make a one off honest mistake.

Then we can all look forward to 10%APR mortgages, and credit cards with 50% APR's. Of course that won't be a problem to the majority claiming these charges back because those are probably the best interest rates they can get right now anyway due to poor credit management.

Rather than reduce charges, I would much rather banks took these peoples bank accounts away from them because its quite clear they don't deserve them!.

I have a friend who lost her job

...which puts her in the minority of all those people getting charged, and therefore one of the few who are 'morally' entitled to reclaim the charges.

No offence, but a bank offered to NOT make an unlawful and legally unenforcable charge on your account ONCE and you posted on the 5 star board?

Let's put it in perspective.

itsarichmansworld wrote:

I read this with interest I wouldnt say I was bad at handling my finances I've just made some mistakes thats all.

Smile benefited from my misfortune by charging me £30 every day I was over drawn. Is that justifiable???? Hence my digust that because I was off my work for 1 month ill I end up woth £435.02 in bank charges... Damn bloody right I was getting this back.

People are way to quick to judge about this what the banks are doing is wrong they know and so do we I actually wanted to go to court because I knew I would win.

However before you get down from you higher moral ground you cannot be perfect with money or why would you be on this website?

Without wanting to sound repetitive, you have to remember when you opened that account you would have recieved a booklet which said if you overdraw you would be charged £30 a day. When you signed the agreement and subsequently credited the account you agreed to these terms.

These charges are not in place for a laugh, they are fines which are there as a preventative measure to stop you using your account when you know the funds aren't there. What about library fines. Many Librarys fine anything between £1 and £5 if you don't bring a book back on time, im pretty sure that there is NO COST to a library if a book comes in late so whats next, are we all going to start taking our librarys to court to claim back 'BOOK CHARGES' :rotfl:. Its exactly the same thing.

Whilst I understand you were ill at this time, if we were talking a serious illness which left you bed bound im pretty sure a simple letter to smile along with some medical backup would have been enough to persudade them to refund all these charges. In any case this might not be necessary because you should probably have been getting sick pay.

Alternatively if you had a broken leg or something and were walking around tesco throwing things in the trolley, knowing full well your wages/sick payment wasn't going to be there then im sorry but these charges were nothing but deserved.

The majority of people on this site are here for genuine moneysaving. The key to genuine moneysaving when it comes to bank accounts is simply managing it properly :T . The sad thing is there are far too many people both on here and in life who take the famous compensation companys "WHERE THERES BLAME THERES A CLAIM" slogan far too seriously. What people don't realise is the money to pay for things like this doesn't come out of some magic pot, its a major contributer to rises in prices/interest/charges.

bargains83 wrote:

Without wanting to sound repetitive, you have to remember when you opened that account you would have recieved a booklet which said if you overdraw you would be charged £30 a day. When you signed the agreement and subsequently credited the account you agreed to these terms.

So when I was 4 I agreed to these terms did I?

Nah! :rolleyes: