Overdraft
Comments
-
What people?
Surely you read the benefits and costs of having a Club Lloyds account before signing up to it. If not the details are easily found online.
https://www.lloydsbank.com/current-accounts/landing/ab2/club-lloyds.asp
If you use your overdraft you are charged £6 monthly overdraft usage fee plus interest. How much interest you pay will be determined by how much you are overdrawn and for how long.0 -
It has been documented in the news thatthe charges are increasing significantly!!!!!!!!0
-
Care to share a link it this news source?
Isn't the point of having an interest bearing account like Club Lloyds that you keep a credit balance in the account and don't live in your overdraft?0 -
Are these the changes OP http://www.examiner.co.uk/news/west-yorkshire-news/how-changes-overdraft-fees-banks-13330769 ?0
-
-
OP - spray a bit of WD40 on your keyboard. Your exclamation key is stuck.0
-
OP read this, the full article for Lloyds Bank specifically:
http://www.bbc.co.uk/news/business-405551750 -
To answer the OP, from November the monthly charge for £1500 overdraft will be approximately 1/700*1500*30=£64.28 assuming 30 days in a month so that charge will depend on the number of days in the month.
You can also calculate it using the 52% APR published by the bank, the charge will be 52/100*1500/12=£65.
Edit: the charge is based on the amount you are overdrawn and not on your agreed overdraft limit. Just noticed the OP said they have 1500 OD limit.0
This discussion has been closed.
Categories
- All Categories
- 342.5K Banking & Borrowing
- 249.9K Reduce Debt & Boost Income
- 449.4K Spending & Discounts
- 234.6K Work, Benefits & Business
- 607.1K Mortgages, Homes & Bills
- 172.8K Life & Family
- 247.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 15.8K Discuss & Feedback
- 15.1K Coronavirus Support Boards