LTSB Bank Error, What to do??

joeksemail

Hey all, need abit of advice......

On Saturday I withdrew a large sum of money (over £1000) which because of the amount got a security flag put up. They ran through the security checks and all was fine. I checked my balance after and the money had come out of my account and I had it in my pocket no problems.

Then yesterday the money came back in my account and as I was expect another large ammount of almost the same value coming in I withdrew it to send abroad as im emigrating in 3 weeks (new zealand ) )

They are now saying that the money should of been earmarked and i should not of been able to withdraw it. However it was earmarked but then lifted.

What do you think I should do? Tell them im not paying it back? Demmand compensation?

Cheers in advance

Lokolo

Demand compensation for them asking for you to put the money back? Eh? Are you actually being serious?

ClareEmily

LOL nice try though

joeksemail

Lokolo wrote: »

Demand compensation for them asking for you to put the money back? Eh? Are you actually being serious?

No not for that! What I forgot to explain is the fact that im a self employed DJ and one of my decks has just bombed out on me so yesterday I ordered a new one for delivery tomorrow as I have a gig which I get paid £120 for. That payment wen through today and got declined as it has now made me £577 overdrawn.

It is not my error it is there, they have mucked up and caused me alot of inconvience therefore why shouldnt I be compensated?

Lokolo

joeksemail wrote: »

No not for that! What I forgot to explain is the fact that im a self employed DJ and one of my decks has just bombed out on me so yesterday I ordered a new one for delivery tomorrow as I have a gig which I get paid £120 for. That payment wen through today and got declined as it has now made me £577 overdrawn.

It is not my error it is there, they have mucked up and caused me alot of inconvience therefore why shouldnt I be compensated?

lol oh right yeh make sure you tell us everything before

Are you in formal overdraft or not?

If you aren't there will be a lot of charges.
If you are then theres still interest to pay.

Write a letter of complaint, state that because of the banks error on the system you are not being charged for something that isn't your fault and that you wish all charges and interest to be removed.

How are you £577 overdrawn if the payment for the decks got declined?

joeksemail

Lokolo wrote: »

lol oh right yeh make sure you tell us everything before

Are you in formal overdraft or not?

If you aren't there will be a lot of charges.
If you are then theres still interest to pay.

Write a letter of complaint, state that because of the banks error on the system you are not being charged for something that isn't your fault and that you wish all charges and interest to be removed.

How are you £577 overdrawn if the payment for the decks got declined?

I dont have a formal overdraft no! Becuase they took the £1070 back out after I thought it had been earmarked and taken out there was only £500 in there, but when I checked my online banking before i made the purchase there was enought money to cover it. By the time they had made the transaction I was overdrawn.

They cant give me an explanation for it and it has been esculated to the area director and I was asked by the branch manager what I want to happen and how they can make it up to me. It really isnt my fault but has caused me alot of stress and hassle not to mention wages :mad:

Lokolo

In what ways has it cost you?

If you want compensation you have to be resonble. You can't just say I want £100 because I had to come down to your branch for an hour.

If things have cost you, such as phonecalls, trips down to branch numerous times then thats fine.

But things won't get that far until you put in a letter of complaint.

http://www.lloydstsb.com/contact_us/complaints_procedure.asp

joeksemail

Well we will see, It has cost me as I now cant work becuase they declined my card even though I should of had funds in there!

I cant put in a complaint until the area director has investigated it and got back to me again.

Lokolo

joeksemail wrote: »

Well we will see, It has cost me as I now cant work becuase they declined my card even though I should of had funds in there!

I cant put in a complaint until the area director has investigated it and got back to me again.

As its their fault ask if they can give you a temporary overdraft (with all costs void) so you can use your card.

joeksemail

The problem is im still on a cash account (havent been in to upgrade it yet) so I cant have an overdraft facility. They have rung me about it but havent had the time to go in. Im hoping they will see that over £15k has gone through my account in the last 5 months and be "nice" to me but as banks are not "nice" then I doubt it

Paul_Herring

joeksemail wrote: »

[...] as I was expect another large ammount of almost the same value coming in I withdrew it[...]

What do you think I should do? Tell them im not paying it back?

Um - pay it off with the amount that you're expecting to go in soon? All (you're claiming) you've done is withdraw money you thought had already been paid in.

All you've 'done' is withdraw it before it's gone in.

Clearly LTSB are at fault here for lifting the hold (or rather for not deducting the withdrawal from the balance.)