Do you have money worries and a loan or credit card with your bank?

Rich_S_2

I work for a bank ( and we (me and a few colleagues) had this discussion the other day. The revenue regulations would more than likely cause banks more problems than its worth to dip into your funds so you are probably safe. If you have debt, ISA's pay out so little in interest it may be worth cashing them in and repaying part/all of your debt. hope this helps.

Rich_S_2

SallyCinnamon wrote: »

I had a similar warning from the Halifax when I went in to set up a regular saver account for my 4 month old daughter. I have a joint account there with my ex which I've been trying to close for ages - unfortunately as this requires action on my exes part, i.e. he needs to sign and submit a form taking himself off the account (which is 67p in credit and not used at all) I haven't been able to do this.

The Halifax warned me that if my ex got into trouble in his personal account, because we're linked by the unused joint account, they could access the child account as I was the trustee - absolutely shocking to think that they would consider doing this.

Thankfully they did warn me and my partner is now the trustee of her account.

Sounds as if they have it wrong. As a trustee, the money is not yours but your daughters. She is the legal owner - you're just acting in her interests. They would never get away with that (!)

shining4

Hi im with smile bank account because i prefer their ethics, my only concern is after reading all this they will set off from my current account. I owe just over £3000 with them on my credit card and have their £500 overdraft. They have called me a few times recently enquiring about why i needed to use my credit card. Im trying to save for a holiday as havent had one in years, I know it might be better to pay off debt but i need a break. Anyway, i just took out the monthly money for the holiday and im stashing it at home, my only concern is do you think they would set off my money to the credit card or overdraft? they reduced my overdraft to £500 last year after reducing for 2 years running. My partner gets his benefit paid into my account as he was made bankrupt many years back and hes considering seeing if he can get a bank account now. I know they are more ethical I just am finding it hard to trust any of the bank nowadays.

Any advice? should i transfer my credit card to another bank? they reduced my limit down last year from £4500 to £3500 and we are not wanting to go below £3000 in case they limit it to £3000 because at the moment by the end of the month im having to borrow off my credit card to make a few payments.

We always pay my credit card on time, above minimum payment but a few years back i had job problems and missed a months payments and the froze my whole account and credit card, hence why im not sure if i can trust them, no matter how ethical they are.

cheers

RWM38

My personal account was overdrawn, and I had a credit card debt with Lloyds, I also had a business account with Lloyds. When I received some money into my business account Lloyds TSB took (in my view stole) the money from my business account to set off against the credit card debt. They gave no notice. They then bounced my standing orders and charged me for this!! This has serously affected my business account (nearly forced me out of business) and forced me to take my banking business elsewhere. I have been a Lloyds customer for about 20 years, but my loyalty meant nothing to them, they did not care about my circumstances. I strongly recommend everyone moves their business away from Lloyds and (as Martin suggests) spread it between several different banks, before it is too late!!!!!!!!!!!!!!!!!!.

randommichael

I have to say I have never had the problem with lloyds, I think they are a brilliant bank and are normally very happy to discuss your personal situation with you and come to an arrangement. They did for me, you have to just approach them about your situation.

RWM38

I also have another company account with Lloyds, and although they have not "set off" from this account (perhaps because it is a limited company?), they did suddenly reduce the overdraft limit without notice 2 days before all the monthly standing orders were due to go out, thus resulting in them bouncing (too late to change them!!!!) and them charging me for this. As for approaching them, I did this bofore and after the events (see previous posting) but it made no difference, they still tried to pull the rug out from under me!

Ouchtheygotme

Dear Readers

I used to work for Lloyds Bank left in 1983 They were a great bank offering tireless helpful service with a smile from qualified and pleasant staff and management. Something bad happened they decided to employ only part time married women no disrespect from me here. Instead of career minded personnel.

The deterioration in the management was the reason for leaving after 11 years of faithful and hard working service I always started work at East Grinstead Branch in Sussex at 9.00 am and usually finished work at 5.30 pm no overtime was paid for working the extra 30 minutes. The satisfaction of a good honest days work was enough. Until one day the Organisation and methods men arrived after 6 months study they decided to tell me what an idiot I was for working a 2 and a half day per working day.

No thank you from management only more work fine I thought this will get me promotion and my family and I will be assured of a great future. Until I realised they were right on the button.

I resigned after 11 years no thank you hand shake I forced the miserable misers to send me a parting gift of £15.00 by cheque again no letter of thanks for all the hard work.

I formed my own financial services business doing much that I had done before but oh what a difference I had 14 associates and was doing very well for them and my dear clients when Mrs Thatcher ruined it all with the introduction of the bankrupt FIMBRA (owed over one million pounds before it even got going).

Today I have just this to tell you I live mostly in the USA (much cheaper than UK here Dodge City rules thousands of banks run by totally incompetent staff Ask their name and they have to think . Close an account and you are surrounded by at least 45 people to persuade you that it might not be such a great idea after all they do know where you live don't they.

Here is what you ALL should do Never borrow from your bank that receives your salary or income Never get a Debit Card Or a Credit Card from them Never Never ask for an overdraught. If you need money go and work for it it really isnt that difficult If you cant work go to small auction meetings and buy up anything you can sell on Ebay.

If you have children Please tell them how the financial world works Rip off after rip off.

Lloyds Bank is run by an American master of devious corrupt and deadly powerful friends. Google Daniels master of the HBOS buyup disaster and he gets a bonus good work if you can get Oh sorry con it.


I have many letters of apology from them Nationwide Inland Revenue the list is growing you all must realise that if the Government gives banks taxpayer money the banks will spend it on themselves and when the money and acceptance runs out you the customer are next in line to line their pockets.

Next your personal pension

I spent 18 months requesting a pension transfer from Axa into a different Axa plan they held my contributions they required me to complete a money laundering form and eventually lost me the capital growth of 18 months in china 400% but they paid me a fantastic amount of compensation I lost £50,000 they gave me £150.00 cant really complain Would You!

Have a great Day!

PS makes you think that Bernie Madoff pronounced MADE OFF really had the right idea if you really don't give a what'sit for the suffering of innocent people which I do.

dinallo

I've got the Lloyds TSB duo cards as I like to collect the airmiles, but I always pay it in full to avoid any interest charges.
A couple of months ago, I changed my current account across from Lloyds TSB to First Direct and moved all my direct debits at the same time.
When I checked the card had been paid, I saw that Lloyds had taken the money as usual via DD.
So I thought all was good, checked the rest of the DD were with First Direct and moved the remaining balance from Lloyds to my new account.
Then Lloyds returned the DD, charged me a late payment fee and took the money again without asking!
I landed up with fees on my current account at Lloyds and a late payment fee with the credit card.
**First Direct though were FIRST CLASS**
- they gave me the confirmation I needed that Lloyds had cancelled rather than transferred the DD to themselves and I finally got all the money back and a letter confirming my credit rating had not been affected.
I've now closed my LLoyds TSB current account. After 22 years of great service they ruined it at the final transaction. Will never bank with them again.

soozer

I used to bank with the Halifax until I had an experience a few years ago re: setting off.

They once cleared my bank account of all funds to pay a credit card debt owed to them. I called their customer services as I had no money to live on. I had just been diagnosed with breast cancer (false alarm thankfully, but wasn't aware of this at the time) and pleaded with them to at least let me have £10 back so I could withdraw some cash and travel to the hospital for an urgent appointment. They flatly refused.

Thankfully I now bank with someone else.

suelees1

Rich_S wrote: »

I work for a bank ( and we (me and a few colleagues) had this discussion the other day. The revenue regulations would more than likely cause banks more problems than its worth to dip into your funds so you are probably safe. If you have debt, ISA's pay out so little in interest it may be worth cashing them in and repaying part/all of your debt. hope this helps.

IMO this is not particularly helpful advice. Whatever the interest rate is at the moment (and we can again thank the banks for this) it's tax free and who knows what the rate might rise to in the future