Lloyds TSB: Another Victory for the Whingers

jonesMUFCforever

itsarichmansworld wrote:

Guys LTSB have taken away the ability to clear a cheque in one day if you have a select account,
Does that mean it the the "whingers" fault?

I dont think LTSB just want to make more money

I wish I went to Court now

Can you give more details on this?
It's a new one on me.

Gordon_the_Moron

The difference between bank charges and library charges (as someone mentioned above) is simple.

Bank charges are profiteering from the banks, they are in place to make money and nothing else. They are not designed to stop people misusing their accounts. If nobody paid the fees by using the accounts properly they'd implement other ways to try and charge you (e.g. removing the buffer which Lloyds TSB have done) they don't want you to manage the account properly they want your money.

Library charges are there for 2 purposes, to subsidise the cost (a tiny part of it) of running the library (most of which don't charge for borrowing books) and also to stop people hanging on to books for a very long time and degrading the service offered to others.

nearlyrich

Funny but the owner of the site agrees that excessive bank charges are immoral and any minute now he will be on Radio 2 talking about it. I haven't had any bank charges in the last 6 years but it doesn't mean I begrudge people who have getting them back and I don't feel it impacts on my relationship with my bank in any way.

I think the people who complain about people getting charges back are much more deserving of the term whinger, I am just glad I can afford to keep my accounts in order and I don't need to pay high charges.

itsarichmansworld

ejones999 wrote:

Can you give more details on this?
It's a new one on me.

Yeah e it was a new one on me I went clear a cheque and the said because they pay interest from the day the cheque is cashed they dont clear them same day now.

I have no notification letters etc saying about this!I'm canceling my select account just tried to claim my mobile insurance its not finished yet 1 month and still waiting!

M_Thomson

itsarichmansworld wrote:

Yeah e it was a new one on me I went clear a cheque and the said because they pay interest from the day the cheque is cashed they dont clear them same day now.

I have no notification letters etc saying about this!I'm canceling my select account just tried to claim my mobile insurance its not finished yet 1 month and still waiting!

Did they ever clear cheques the same day?

southernscouser

nearlyrich wrote:

Funny but the owner of the site agrees that excessive bank charges are immoral and any minute now he will be on Radio 2 talking about it. I haven't had any bank charges in the last 6 years but it doesn't mean I begrudge people who have getting them back and I don't feel it impacts on my relationship with my bank in any way.

I think the people who complain about people getting charges back are much more deserving of the term whinger, I am just glad I can afford to keep my accounts in order and I don't need to pay high charges.

Well said NR! :T

jonesMUFCforever

itsarichmansworld wrote:

Yeah e it was a new one on me I went clear a cheque and the said because they pay interest from the day the cheque is cashed they dont clear them same day now.

I have no notification letters etc saying about this!I'm canceling my select account just tried to claim my mobile insurance its not finished yet 1 month and still waiting!

I think you are getting confused.
There is a service (costs £10) to ''express'' a cheque but this is just an indication that it will be paid and it clears at the end of a clearing cycle.
If the cheque you paid in was drawn on a LTSB personal a/c then it would have cleared as soon as you paid it in or you would have had it back by now unpaid!

itsarichmansworld

No If You have a select account with LTSB you could cash it same day didnt have to be a ltsb cheque,

But If it bounced you had to pay charges so it was only worth it if you knew it wouldnt bounce. i used it once for a scottish power refund

The_Boss

I personally dont have a problem with a bank. It seems that the only people that do are the ones that cant be arsed with terms and conditions. Suddenly, because THEY are to blame for bad account management, the banks become evil nasty people. Yet us guys dont have a problem. Funny that.

jonesMUFCforever

itsarichmansworld wrote:

No If You have a select account with LTSB you could cash it same day didnt have to be a ltsb cheque,

But If it bounced you had to pay charges so it was only worth it if you knew it wouldnt bounce. i used it once for a scottish power refund

I have never heard of this before.
Select acounts have never been able to clear cheque same day.
If you pay in a cheque and you already have sufficent funds in the account then you can withdraw from your available balance.