We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
MSE News: Lloyds TSB in bank charges shake-up
Options
Former_MSE_Guy
Posts: 1,650 Forumite
This is the discussion thread for the following MSE News Story:
Read the full story:
0
Comments
-
-
I bet they done this to cover themselves for the bank tax.
Unlikely. Perhaps it's to re-coupe the lost income from reducing their unauthorised overdraft charges.Anything I post is my opinion, so from time to time I may be wrong. I try to provide answers based in fact, however I don't know everything, so (like all posters on MSE), take what I say with a pinch of salt.0 -
-
What about the monthly fee for using an approved overdraft?0
-
jonesMUFCforever wrote: »What about the monthly fee for using an approved overdraft?
The start of non free banking begins?0 -
At least they are not doing a Halifax and charging a quid a day.0
-
That's true and who do you think the banks will take the bank tax that will come into force i think nextyear the bank or the poor consumer?paulmcerlean wrote: »At least they are not doing a Halifax and charging a quid a day.0 -
This annoys me no end. I liked the old/current system fine.
All this campaigning about "fairer" banking charges just ends up with all the banks changing their charges into systems that make less sense.Changing the world, one sarcastic comment at a time.0 -
Like many banks Lloyds chose a complex array of smaller fees in preference to an expensive single charge.
Because charging structures are becoming ever more complicated and difficult to compare, from the end of this month the OFT will require that all banks publish the cost of going into unauthorised overdraft in 6 different scenarios.
1 We refuse a payment from your account because there is not enough money in your account.
2 A payment from your account takes you into [an unauthorised overdraft] by less than £10. You [are overdrawn] for one day during the month.
3 A payment from your account takes you into [an unauthorised overdraft] and you make another payment from the account while you [are overdrawn].
You [are overdrawn] for two days in a row during the month.
4 A payment from your account takes you [into an unauthorised overdraft], and you make nine more payments from the account while you [are overdrawn]. You [are overdrawn] for 10 days in a row during the month.
5 A payment from your account takes you [into an unauthorised overdraft]. You [are overdrawn] for one day. However, on three more occasions during the month, a payment takes you [into an unauthorised overdraft]. On each of these occasions you [are overdrawn] for three days in a row.
6 A payment from your account takes you [into an unauthorised overdraft]. You [are overdrawn] for 21 days in a row during the month and you make 12 more payments from the account while you [are overdrawn].0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.6K Spending & Discounts
- 244K Work, Benefits & Business
- 598.9K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards