A funny lloyds TSB tale

david39

Pappyon:

When I set up my accounts with Lloyds many years ago I remember that I was offered the facility of setting a figure which the current account would not exceed.

It worked like this (true figures are not used here):

Ideal Maximum for Account : £1500
Value to trigger Transfer : £4000

If the account exceeded a value of £4000 then the balance above the Ideal Maximum would be transferred to a savings account - so if I paid a sum in that brought the value to £8000 then £6500 would be automatically transferred to an interest-bearing account (in the days when interest was more than a pittance.)

As my current account is more often in a minus position than a positive, this has never actually been brought into use, but I am aware that it might do if Ernie or the National Lottery were to favour me with a sizable donation.

Is it possible that you have that arrangement with Lloyds and that the transfer has been done automatically on instructions that were given years ago and have been forgotten by you?

pappyon

I thank you for replying to my post.

I have never had that arrangement with Lloyds TSB ever!

Even if that had been the case surely they should have contacted my beforehand to let me know they were doing this!

When I contacted Lloyds TSB online banking about this initially they told me it had been done at the branch, and admitted they had no idea why it had been done! They also conceded that it shouldn't have been done

In January 2009 I had £90,000 in my current account for over a fortnight, which was for a deposit on a house I was buying and they didn't move that money to a savings account.

I don't know how many times I have told them in recent years that the only reason I stay with them is because I can't be bothered with the inconvenience of changing to another bank!

poet123

I frqeuntly have issue with them over money in a current account. Every time I put a large sum in to pay for a holiday/suite/ car etc they either stop me in branch and ask what is it for, or ring me up, on the pretext that I may be unsure that I am receiving negligable interest on a current account.

It infuriates me....I have had an account with them for 30 years...and what business is it of theirs what I am planning to spend my money on? I would change too, if I could be bothered.

flossy_splodge

I went into my Lloyds branch last week to get them to exchange about £900 of the now defunct £20 notes.
They tried to tell me I HAD to deposit it into my current account and then draw it out again.
When I rather firmly explained that as I was the customer I got to choose how I handled my money and would they like me to just close my account?
It was truly amazing that suddenly the 'I HAD TO' went away and my request was carried out, namely the exchange of notes.
I hate bully boys who think we don't have the guts to stand up for our rights.

rockitup

alanq wrote: »

When typing into a Google search request box recently one of its first suggestions to search for was something to the effect that "x are useless so-and-sos". On investigation there were many stories about someone who had changed their name by deed poll and forced an organisation with which they were in dispute to issue them with a cheque stating something to the effect that they were "useless so-and-sos". It seemed to be genuine rather than just an urban myth. Does anyone recognise the story?

Update:
This isn't it but the same idea.
http://www.dailymail.co.uk/travel/article-1284616/Bride-Austin-Kettle-changes-I-Hate-Thomas-Cook-booking-fee-row.html

I did this many years ago with Lloyds Bank after being on the receiving end of bad treatment and I had been with them for 19 years without going in the red, and had always paid off loans on time or early.

After getting some grief off a new assistant manager in my branch, I walked to the nearest solicitor and paid £15 for a change of name by deed poll. Then I walked back in to Lloyds Branch and showed them my deed poll forms with my new name.

They asked my surname first: Blackhorse
then my first and middle names: Shafted by the

Needless to say my cheque book and debit cards were not ordered for me but they gave me some compensation for my complaint and closed my account on the spot. A few customers in the lunchtime queue had a good chuckle though

david39

poet123

One of the reasons why they may be querying large sums is because banks are required by law to make sure that their customers are not involved in money laundering - and to do this, they are required to make enquiries about large deposits and withdrawals.

Their enquiries may be wrapped up a little so as not to suggest that they think you might be money-laundering - but they are required to satisy themselves that you are not involved in it.

poet123

david39 wrote: »

poet123

One of the reasons why they may be querying large sums is because banks are required by law to make sure that their customers are not involved in money laundering - and to do this, they are required to make enquiries about large deposits and withdrawals.

Their enquiries may be wrapped up a little so as not to suggest that they think you might be money-laundering - but they are required to satisy themselves that you are not involved in it.

I am not talking about huge amounts here, and I have been a customer for 30+ years, I dont fit the profile...

steady__eddie

"Their enquiries may be wrapped up a little so as not to suggest that they think you might be money-laundering - but they are required to satisy themselves that you are not involved in it."

I have been banking with them for more years than I care to remember and ocassionally deposit a not insubstantial cheque from bonds which have matured. When asked where these funds have originated from, even though the name of the institution on which they are drawn is printed on the cheque is clearly visible, I reply nowadays that, "They are the proceeds from drug dealng and prostitution". This invariably produces a wry smile and the response, "That's all done for you now, is there anything else that I can help you with ?"

smallfry27

They usually ask me 'do you want to transfer it to a savings account' or 'do you want to see an investment specialist'. I just reply that I've already made plans.

On one occassion they phoned me at home, and I had accidentally left £15k in an account with no interest. So I was grateful for that call. (Pity they are not so helpful when they drop the interest rate.)

I've used four banks and they all get things wrong from time to time.

missile

poet123 wrote: »

I frqeuntly have issue with them over money in a current account. Every time I put a large sum in to pay for a holiday/suite/ car etc they either stop me in branch and ask what is it for, or ring me up, on the pretext that I may be unsure that I am receiving negligable interest on a current account.

It infuriates me....I have had an account with them for 30 years...and what business is it of theirs what I am planning to spend my money on? I would change too, if I could be bothered.

I had a similar call when I credited a large sum to my RBS account. I am sure most banks monitor accounts and any lagre balance will attract a sales call.