Lloyds TSB

stephyt23

For anyone looking for student accounts just be aware that from 2nd December Lloyds with charge you £5 a month if you go into your overdraft, planned or unplanned overdrafts!

Because of this and other reasons I have today switched my student account and other accounts across to Natwest

slopemaster

And their customer service is carp too.
Horrible call centre.
Incompetent staff in the branch.
Don't bother.

Indie_Kid

do you have a link to this please?

atypical

stephyt23 wrote: »

For anyone looking for student accounts just be aware that from 2nd December Lloyds with charge you £5 a month if you go into your overdraft, planned or unplanned overdrafts!

Because of this and other reasons I have today switched my student account and other accounts across to Natwest

The £5 fee won't apply to student accounts. From this Guardian article:
"Customers who have an added value, student or graduate account with an interest and fee-free overdraft arranged will not pay the £5 fee as long as they stay within the interest and fee-free amount."

Lloyds reducing their overdraft charges is an odd thing to add to a list of why you're leaving them :huh:

saverholic

atypical wrote: »

The £5 fee won't apply to student accounts. From this Guardian article:
"Customers who have an added value, student or graduate account with an interest and fee-free overdraft arranged will not pay the £5 fee as long as they stay within the interest and fee-free amount."

Lloyds reducing their overdraft charges is an odd thing to add to a list of why you're leaving them :huh:

Thanks for this I've been struggling to get a straight answer out of the people at the branch and the website is just confusing :mad:.

slopemaster wrote: »

And their customer service is carp too.
Horrible call centre.
Incompetent staff in the branch.
Don't bother.

I'm not a huge fan of Lloyds, you would not believe the hassle I had setting up the account. I'm going to repay them for all the superb (/note this is sarcasm) customer service by leaving for the best graduate account as soon as I graduate. Loyalty? I don't think so

stephyt23

atypical wrote: »

The £5 fee won't apply to student accounts. From this Guardian article:
"Customers who have an added value, student or graduate account with an interest and fee-free overdraft arranged will not pay the £5 fee as long as they stay within the interest and fee-free amount."

Lloyds reducing their overdraft charges is an odd thing to add to a list of why you're leaving them :huh:

Ah right, well that's not what my letter made it sound like.

As I said that's not the only reason I'm leaving, there are MANY others. And as above the crap service and incompetent staff are also on the list of why I've now decided to move

atypical

saverholic wrote: »

I'm going to repay them for all the superb (/note this is sarcasm) customer service by leaving for the best graduate account as soon as I graduate. Loyalty? I don't think so

Lloyds currently offers the best graduate account. Well, if your definition of best is the account offering the highest overdraft. There's an article here:
http://www.moneysavingexpert.com/banking/graduate-bank-accounts#highest

saverholic

atypical wrote: »

Lloyds currently offers the best graduate account. Well, if your definition of best is the account offering the highest overdraft. There's an article here:
http://www.moneysavingexpert.com/banking/graduate-bank-accounts#highest

I'm currently deficit banking so not sure what I'm going to do when I graduate, keep deficit banking with a graduate account or simply shift to the best current account available.

In a way I don't mind Lloyds. I know their customer service is crap and that the people in branch don't seem to know their own products which means when I receive crap customer service and incorrect information I'm hardly surprised.

I'm currently getting what I want from them i.e. a nice big overdraft, its simply that this has not engendered any loyalty in me for Lloyds

Regarding the original topic: I asked in branch today about whether student accounts would be effected and the woman claimed not. When I asked at a different branch a few weeks ago I got a flat 'yes, they will be effected'. I think the woman today was probably correct but find it amusing that the two branches can't agree.

Arenea

Has anyone managed to get confirmation on this yet? I also received a letter which appeared to say it would apply and the website doesn't list student accounts in the exemptions? Haven't had chance to go into a branch yet.

I'll certainly be changing my account if they're going to start charging for overdraft, although would rather avoid this. I have always been happy with the service from Lloyds - I initially tried to move to a student account with Natwest when i started uni, but their service was so bad that I shut the account and went back to Lloyds after 2 months!

atypical

Arenea wrote: »

Has anyone managed to get confirmation on this yet?

More confirmation than the Guardian article? The information for which would would have come from a Lloyds press release.

edit: Found the press release here, the Guardian lifted the section I quoted word-for-word:
http://www.mediacentre.lloydstsb.com/media/pdf_irmc/mc/press_releases/2010/June/5510pressrelease.pdf