overdrawn saga!

Flat_Eric

My younger sister has phoned me to tell me that an item she purchased some weeks ago costing £150 has only just been debited from her Lloyds Bank Account. Unfortuantely as the money wasnt taken straightaway, she spent it thus she is now £150 overdrawn.

She does not have an overdraft facility thus unauthorised overdraft charges spring to mind....

I am going to replenish her account but as I dont bank with Lloyds I suspect the earliest I can credit her account will be Monday? as even if I make an online payment, I guess this wont credit for 3 working days?

Does anyone know what the deal with Lloyds Bank accounts is? I think its a young persons/student account she has (she is 17) so do they apply the overdraft charge per day including weekends? and do they immediately debit it or wait for several weeks and then debit the charge when you are least expecting it?

Kavanne

They can't take charges off her if she is under 18 as any credit given to her is unenforceable. If they try and put any charges on her account take her down to the branch ASAP and get them refunded.

willo65

Kavanne wrote: »

They can't take charges off her if she is under 18 as any credit given to her is unenforceable. If they try and put any charges on her account take her down to the branch ASAP and get them refunded.

If they bounced a payment then I think she could still get and unpaid item fee.

Kavanne

willo65 wrote: »

If they bounced a payment then I think she could still get and unpaid item fee.

Even if it took her overdrawn? Any overdraft they put her in is unenforceable.

willo65

Kavanne wrote: »

Even if it took her overdrawn? Any overdraft they put her in is unenforceable.

nope, probably not enforceable but it could still muck up her credit file for future, and I know she should be able to get that corrected but i would suggest best think is to pay money in, then go and see lloyds, find out if they can refund charges etc, explaining only 17 etc

noh

Flat_Eric wrote: »

I am going to replenish her account but as I dont bank with Lloyds I suspect the earliest I can credit her account will be Monday? as even if I make an online payment, I guess this wont credit for 3 working days?

If your account is able to make outbound faster payments her account will be credited immediately.

TheEffect

If she is under 18, Lloyds will not charge her any fees at all. She'll get a letter saying ''We have paid for an item that you did not have enough money for in your account. Please credit your account within 7 days. If you cannot do this, please contact us and we'll be happy to help''.

Under 18's are not charged any fees for unauthorised overdrafts or returned payments. Just make sure her account is back in credit with 7 days of the transaction.

Mikeyorks

Depends who you bank with but, as post #6, an 'immediate' Faster Payment off your account is the only potential before Monday.

Gives you time to show your sister the benefit of online banking ..... and how the 'available' balance is so valuable (OK .... any amount not taken 'in time' will drop back on to balance after a max 7/10 days .... but it should still be impaled on the 'unavailable' in your memory .. or noted on wherever she keeps a running balance!)

Flat_Eric

thank you all very much for your very helpful replies :j:D:j:D:j:D MUCH APPRECIATED

My sis came down and we transferred £1 which appeared immediately so we transferred the balance and her account is now back in credit. She also phoned them and they indeed confirmed what was said here that no charges would be levied because she is under 18. Thank you all