unauthorised overdraft charges

my_definition

yes i realise that he hasnt cancelled the trial i am not arguing about that i am asking that when the bank told him all the dd and payments had been moved shouldnt this have counted? if he had realised they were going to take money out then there would have been money in the account

noh

my_definition wrote: »

yes i realise that he hasnt cancelled the trial i am not arguing about that i am asking that when the bank told him all the dd and payments had been moved shouldnt this have counted? if he had realised they were going to take money out then there would have been money in the account

The bank have no knowledge of the CPA on the debit card.
The only ones who know about it are your boyfriend and Napster.

A+L correctly informed him that all DDs and SO had been changed over.

Unfortunately your boyfriend can only blame himself for not keeping a close watch on his own finances.

Consumerist

my_definition wrote: »

if we managed to pay the money back would be be likely to get any kind of refund?

I've had a re-think about this one.

Having read the Reclaims page, I think it probable that you could make the point to the FOS that you were only able to pay off the bank's charges by means of a loan which you now have to repay.

The consequences of not repaying would be further charges of £6 per day (up to 10 times per month). I note from their website that Lloyds charges rise as the overdraft rises, firstly to £10 per day and then to £20 per day plus £15 per month in any statement period).

Even charges at £60 + £15 = £75 per month are disproportionate to the original "offense" and, given your income indicated earlier, it is likely to be causing undue hardship.

I am no expert, of course, but I would say that you would fall within the "financial hardship" category of complaints to the FOS and with what seems like a strong case.

In addition, not having the bank snapping at your heels during the complaints process will be a load off your mind so that you can concentrate on your studies rather than having sleepless nights worrying.
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chipbeck

Consumerist wrote: »

Well, if they are charging £6 per day, it is easy to see how quickly it can increase to £130 in total.

The only course I can suggest is to discuss the matter (politely) with Lloyds and explain your financial position. You may be able to negotiate an acceptable compromise.

If that doesn't help then follow it up with a letter giving details of joint income and expenditure to demonstrate hardship. Keep a copy of the letter as evidence in case you need to demonstrate to the Financial Ombudsman Service (FOS) that you are in hardship.

You will then need to follow the bank's formal complaints procedure to try again. If you are not satisfied with the final response from the bank, you then have the option of referring the matter to the FOS. I regret that this likely to be a long and stressful process.

If at all possible, your best bet may be to borrow from a friend or family member to settle with the bank and repay them as soon as possible.

I wish I could be more helpful.
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The charge is £20 a day for an unauthorised overdraft at Lloyds. Good news is they seem to cap it at 8 days. Hence my charges only came to £329 pounds this month and this included everything.

1 returned DD.
2 Unpaid SO's.
OD Interest.
Unauthorised OD.

More than reasonable I'm sure you'll agree for their services.

Consumerist

chipbeck wrote: »

More than reasonable I'm sure you'll agree for their services.

Very reasonable for a masochist.

Could I ask, out of interest, what the amount of the overdraft is?
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my_definition

Consumerist wrote: »

I've had a re-think about this one.

Having read the Reclaims page, I think it probable that you could make the point to the FOS that you were only able to pay off the bank's charges by means of a loan which you now have to repay.

The consequences of not repaying would be further charges of £6 per day (up to 10 times per month). I note from their website that Lloyds charges rise as the overdraft rises, firstly to £10 per day and then to £20 per day plus £15 per month in any statement period).

Even charges at £60 + £15 = £75 per month are disproportionate to the original "offense" and, given your income indicated earlier, it is likely to be causing undue hardship.

I am no expert, of course, but I would say that you would fall within the "financial hardship" category of complaints to the FOS and with what seems like a strong case.

In addition, not having the bank snapping at your heels during the complaints process will be a load off your mind so that you can concentrate on your studies rather than having sleepless nights worrying.
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Thankyou for this i will have a good think about this. We paid £30 into the account yesterday to ensure that the charges werent increasing and there is now the matter or £135 in fees which is somehow seperate. We have already paid 220 in fees and are currently awaiting news from lloyds on what they think is a reasonable charge. With luck they will reduce this but the manager who deals with this was off and we spoke to a different person. The fsa agreed we had some kind of a case because of the change of address and because of hardship and we will contact them again if the news from lloyds is not good.