Lloyds TSB and the Banking code

bennymanc

Hi All

Im hoping I can get some useful advise on here about my account with Lloyds.
I opened an account in 2006 and used it until around the summer of 2007. At that time I was claiming against Lloyds for bank charges and during the process I moved address, of which I informed them. It was in the same apartment block so had no concerns over the mail etc.
To this date I have not received a bank statement from them - some 18 months after I changed my address details - and I have also not received a termination notice, so assumed that it has not been passed to a DCA.
The amount owing is under £100 (the majority of it bank charges). I called up last night to be advised to go into a branch and speak with one of the advisors as they could not take me through data protection - I am now thinking that the account has bene passed on but I have not been informed.

According to the banking code, Lloyds should be issuing regular statements to me about my account, which clearly they have not. I am wondering what stance I should take when going into the branch, as potentially I could go the the FSA and complain about them not issuing statements.

Im thinking along the lines of close my account and write off the debt as potentially I believe they could be fined more than I owe. Questions going through my mind are how much could they be fined etc???

Any sugegstions????

Thanks
Ben :beer:

SparciaM

The Banking Code is a voluntary code that the banks don't have to adhere to. In regards to no statements, did you not think to check with lloyds after a few months?

To be honest, I don't think you can do much. I'd just go in and be all nice and polite and see what happens, never go in quoting information or shouting as you'll get nowhere and remember that they don't have to do anything that it says in the Banking Code.

book12

Even though, you don't have statements, you could check them through online banking.

simon_templar_2

The banking code is voluntary in terms of being a member of it but once a financial institution is a member then compliance is mandatory.

noah271007

It's daft because banking code is voluntary and banks don't have to comply, i don't see the logic of having a banking code even if they are a member!

Like passing disputed accounts to DCA. That would have broken the banking code but banks ignore this.

simon_templar_2

Banks must comply if they sign up to the Banking Code. They cannot pick and choose which bits to comply with and ignore others. The Banking Codes Standard Board are currently going round various Abbey branches interviewing staff to get a feel on how they operate within the guidelines. If they were to get the impression that Abbey didnt conform then they can name and shame the bank as non compliant with the code. That would be very bad publicity for a bank to receive.

noah271007

simon_templar wrote: »

Banks must comply if they sign up to the Banking Code. They cannot pick and choose which bits to comply with and ignore others. The Banking Codes Standard Board are currently going round various Abbey branches interviewing staff to get a feel on how they operate within the guidelines. If they were to get the impression that Abbey didnt conform then they can name and shame the bank as non compliant with the code. That would be very bad publicity for a bank to receive.

I know someone who had their account closed despite it was in dispute with the refund of bank charges back in 2007 at the height of bank charges revolt! How is this banks are complying with the banking code when they clearly are not!

noah271007

http://www.bankingcode.org.uk

noah271007

click on general public and look out for current banking code (2008) on the right.

simon_templar_2

Thanks but i know it off by heart! My point is compliance is mandatory. You pointing out one alleged incident does not mean ALL banks do that. To not comply is breaking the code and any bank doing so should incur the wrath of the BCSB.

noah271007

Thanks simon, so for those who disputed with bank charges find their accounts (in dispute) closed (defaulted) and passed on to DCA what should they do?