Graduate overdraft

mork85

Hi everyone, i'm new here so please bear with me.
I have a student (overdraft) account with Lloyds TSB which i have ceased to use since 2005. However, i graduated in July and the bank say they sent me a letter saying my account had been reduced to £400, without my knowledge i must add. So, i have not recieved the aforementioned letter, and b; graduates normally have 2-3 years interest free to pay their overdrafts off?
so can any tell me what rights i have because i have also incurred £155 penalties as a result of not recieving the letter. Naturally im very angry about this and im prepared as a result, to cut all ties with this joke of a bank.

What should my next course of action be?
Thanks in advance for your wisdom

QuirkyChemistry

I would suggest you check the terms and conditions to see what it says in there. Maybe you could say that you didn't receive the letter (if nothing is said in the T&Cs) and rely on their generosity to wipe out or reduce the charges? I think graduate accounts are becoming a lot less generous now.

antuk

You say you haven't used it since 2005, have you paid into it at all? If not i think you have been really lucky to keep hold of the overdraft for this long, all the student/graduate overdrafts are provided on condition there is some money going into the account.