Lloyds TSB Current account experience! 16-17 Year olds

mothersuperior

My card should arrive soon and i look forward to using the visa!
Nationwide are crap tbh. Stopping over 16s from having a debit card is just stupid.

"Also, be aware Lloyds charge £1 for any purchases not in pounds, plus 2.75%, HBOS charge £1.50 plus 2.75% "

I wouldn't use the card abroad anyway!

jonesMUFCforever

mothersuperior wrote:

Where can i start....



So if your 16 + and in the void of banking i would say go with Lloyds!
Oh btw guys. There is no control on the Visa. Aka I can go overdrawn.

James

I think you'll find that your card is a 2-1 debit control card (similar to Electron) which will not allow you to go overdrawn. Transactions are checked to available balance before it is authorised.
There is no cheque guarantee facility with this card.

mothersuperior

Excuse me mate. Ive been researching this for the past few weeks i know what card it is. I know theres no CC facility and According to my bank manager this card is not checked before approval.

mothersuperior

But hey i can still go overdrawn on that anyway. If not via shops say via a cheque or the transaction being delayed.

mothersuperior

I don't know why they don't allow me to have the CC feature anyway i put 1500 into there a month now as i am working full time

furndire

I thought going overdrawn was classed as credit, and as such not legal for under 18's - am I right or wrong can someone tell me?

furndire

I though being overdrawn was a form of credit, and as such illegal for under 18's. Right or wrong - can anyone clarify please?

mothersuperior

Well the law on credit is sticky. They can't give me the faciltys per say. A credit card. The law on an overdraft well thats sticky too. Basicly if i go overdrawn on my account it's not illegal as it's against the banks will and they can't do anything about it. It's hard to explain tbh.

Forced Credit per say to an under 18 is illegal direct advertising for instance.
You can go overdrawn. It nearly happened to me once when i bought a few items in a shop. They didn't take it out straight away. If my pay hadn't gone in ont he same day i would of been charged and in other words in debt.

mothersuperior

In fact. I could be done for. Obtaining redit by deception. But at £3.28 i think the bank would let me pay it off some how.
But remember an unauthorised Overdraft "overdrawn" i not illegal to an under 18. But isn't a good situation to get into. See this isn't illegal as the banks have put in place a system to stop me going overdrawn directly. But Indirectly... Say a delayed transfer isn't as it's not debt as such but could be seen as a mistake per say. Thats how you can get around it.

System

Kilty wrote:

Well, booking with Ryanair it could save £6-£18 per flight :eek:

It's 40p each flight on Ryanair, so on a return flight u'd save 80p by using electron over Visa Debit!

Not £6-£18!