Sneaky little Lloyds TSB!

daviesalie_2

Has anyone noticed with their Lloyds current account that all direct debits come out for the following day at midnight, but they wait to apply their charges until the end of the day.

They've caught me twice, where I'd checked my account online, proceeded to spend the money I thought I had (completely forgetting that I had charges coming out) then go back online later that evening to find that they've taken out the charges and tipped me over the limit incurring a charge:mad:. Very annoying indeed! I'm onto them now though and they won't catch me again.

I know I've got overdraft interest coming out today. It's 3.50pm and still no sign of them on my statement...sneaky little bleeps :mad:

No doubt they'd explain it happens because of something to do with a computer, but come on!!

Rant over

Paul_Herring

proceeded to spend the money I thought I had (completely forgetting that I had charges coming out) then go back online later that evening to find that they've taken out the charges and tipped me over the limit incurring a charge

I don't think Lloyds are entirely to blame here.

To re-iterate what's been said on numerous threads elsewhere, you can never be certain that snapshot numbers coming from your bank for the 'balance now' take into account all charges/deposits that may happen in the next 5 minutes/hours.

You should be keeping your *own* record of what you know should be going in and out (and thus the 'true' balance,) and then double check it with the online/paper statements once all the dust has settled (day/week later) for any discrepancies.

Relying on the snapshot figure from an ATM receipt/online, especially if you're on a tight budget usually leads to charges. And that applies to all bank accounts, not just Lloyds.

miss_missy

hi
im not sure what they are doing thats sneaky when we have had charges from lloyds theyve always warned us when it will come out what time of the day doesnt really matter as ive been told its coming out on that day, if your so close to going over your limit and getting more charges maybe you need to look at your spending or ask for a bigger overdraft
charges arent always fair but i dont really think you can complain about what time of day they take the money out

daviesalie_2

My point is why can't the charges come out when they take all the other payments out, why leave it until 5pm at the close of day when if you do go over your limit there's no chance to rectify it.

Yes, I have been very lax with my finances, hence my signature, but I am trying to tackle my financial incompetence. Perfection takes time to achieve, but I should catch up eventually

IMO the sole reason lloyds are doing this is in the hope that they can make more money, yes its a business and thats what its there to do, but I think it is quite sneaky, but thats just my opinion.

I also posted it just in case others weren't aware of this practice and could save some others getting caught out.

iereboy

Sneaky? Hardly so.

They let you know one month in advance the date and the amount that you will be charged.

Lesson : Leave the money in there when they tell you and you'll be fine.

exel1966

daviesalie wrote: »

Has anyone noticed with their Lloyds current account that all direct debits come out for the following day at midnight, but they wait to apply their charges until the end of the day.

They've caught me twice, where I'd checked my account online, proceeded to spend the money I thought I had (completely forgetting that I had charges coming out) then go back online later that evening to find that they've taken out the charges and tipped me over the limit incurring a charge:mad:. Very annoying indeed! I'm onto them now though and they won't catch me again.

I know I've got overdraft interest coming out today. It's 3.50pm and still no sign of them on my statement...sneaky little bleeps :mad:

No doubt they'd explain it happens because of something to do with a computer, but come on!!

Rant over

Not really sure what the issue is here. You know what's going to happen and from past experience when it's going to happen so why let it happen ?

To be 'caught out' once, well that's understandable as you weren't to know, but twice is just careless on your behalf.

Lloyds like many banks do processing late at night/overnight and that applies to crediting interest or adding charges to an account.

.1xp

I hate Lloyds and I'm not even one of their customers!