lloyds tsb new overdraft charges

pinkarsenalprincess

We opened an A&L for our bills account with no problem. Didn't have to have any minimum input each month.
We are now switching it over to Halifax, as I no longer want to be with them since they merged to Santander

eventer

tifo wrote: »

This is VERY expensive if you overdraw ...

"if you don't ask us for an increase but go over the agreed limit anyway, you will pay interest of 15.9% EAR on the overlimit balance, there'll also be a £20 service charge every month and a daily service charge of £20 a day for each day that your overdraft increases".

Everywhere charges through the nose if you go over your agreed limit though.....

eventer

Try Natwest then - they do a fee-free account with no minimum payment in, and the first £100 of the overdraft is interest free - if you open one in your name, and one which is joint, and only run £75 overdraft on each then you won't pay any interest and again should be able to sort out the overdraft over the course of a year or so?

http://www.natwest.com/personal/current-accounts/g1/regular-current-account.ashx?DCMP=ILC-PersHPCurrAPlusLgQ3Bnr#tabs=section3

chickywiggle

eventer wrote: »

Try Natwest then - they do a fee-free account with no minimum payment in, and the first £100 of the overdraft is interest free - if you open one in your name, and one which is joint, and only run £75 overdraft on each then you won't pay any interest and again should be able to sort out the overdraft over the course of a year or so?

http://www.natwest.com/personal/current-accounts/g1/regular-current-account.ashx?DCMP=ILC-PersHPCurrAPlusLgQ3Bnr#tabs=section3

thanks, now that looks like what i want.

eventer

I am slightly obsessive about keeping money in different accounts - on the plus side this means I have no debts aside from the mortgage, on the minus side, my husband thinks I am a bit odd..... I've been doing the research on bank accounts recently because there is no way I am letting Lloyds charge me for this facility, rip off merchants! Good luck, hope Natwest works for you.

amiehall

chickywiggle wrote: »

eventer - try it - look online at the big banks (or martins blog). all insist your account must have £15, 000 (for example) going in. yes the joint will but not the individual.

If anyone does have any success please let me know.

This is just clearly ridiculous.... Until recently I'd never even earned anything like that amount of money as a cumulative total over my whole life and I can assure you I've always had access to standard current accounts at big banks. Maybe you're ineligible for reward accounts or some special deals and stuff but you'll be allowed to operate a standard current account without involving anywhere near those kinds of payments into the account.