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Lloyds TSB - Planned Overdraft Charge
nem0501
Posts: 4 Newbie
I have a Lloyds TSB current account and have done for over 20 years now. Currently I have a "Planned Overdraft" with them that does not cost me anything... Unless of course I go over its limit which so far has never happened.
I heard on the BBC last week that Lloyds TSB have "cut" some of their bank charges BUT those customers with a "Planned Overdraft" will, from December 2010, have to pay for it. I heard something about £5.00 a month!
:(:(:(:( Is this correct? If so, is there anything I can do about it? Does loyalty and being a good customer not count for anything these days?
I am very seriously thinking of switching banks which is a real shame because up until now I have been perfectly happy with what I have... I am wondering who to switch to. Many banks seem to want a minimum of £1000 paid in each month and I'm afraid this just isn't possible at the moment.
Any comments or advice would be welcome... Thank you!
I heard on the BBC last week that Lloyds TSB have "cut" some of their bank charges BUT those customers with a "Planned Overdraft" will, from December 2010, have to pay for it. I heard something about £5.00 a month!
:(:(:(:( Is this correct? If so, is there anything I can do about it? Does loyalty and being a good customer not count for anything these days?I am very seriously thinking of switching banks which is a real shame because up until now I have been perfectly happy with what I have... I am wondering who to switch to. Many banks seem to want a minimum of £1000 paid in each month and I'm afraid this just isn't possible at the moment.
Any comments or advice would be welcome... Thank you!
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Comments
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I have a Lloyds TSB current account and have done for over 20 years now. Currently I have a "Planned Overdraft" with them that does not cost me anything... Unless of course I go over its limit which so far has never happened.
I heard on the BBC last week that Lloyds TSB have "cut" some of their bank charges BUT those customers with a "Planned Overdraft" will, from December 2010, have to pay for it. I heard something about £5.00 a month!:(:(:(:( Is this correct? If so, is there anything I can do about it? Does loyalty and being a good customer not count for anything these days?
I am very seriously thinking of switching banks which is a real shame because up until now I have been perfectly happy with what I have... I am wondering who to switch to. Many banks seem to want a minimum of £1000 paid in each month and I'm afraid this just isn't possible at the moment.
Any comments or advice would be welcome... Thank you!
It has nothing to do with your personal loyalty to the bank. Overdrafts are not designed to be lived in permanently, it is a more temporary form of borrowing. According to the Independent, the fees will be reduced, but a monthly £5 fee will be debited along with your interest.
It is up to you ultimately if you want to switch, alot of banks have an overdraft switching guarantee if you switch with them.Best Regards
zppp
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