lloydsTSB start charging for student accounts

matw2

Sorry if this has been posted elsewhere.

My partner received a letter from LloydsTSB stating that from 2nd December 2010 they will begin applying a monthly charge of £5 for any month that you are in your overdraft. As most students stay in their overdraft for everything after first year, it is essentially a £60 per year charge for the student overdraft that has always been free in the past.

Does anyone else know if this is going to become standard practice with other banks, as we're now looking for a new bank for her student account?

This wasn't in the weekly email this week, but I think that new students should be made aware of it.

Mat

stephyt23

I started a thread about this recently as that is why I've now switched accounts. Seems there's still some confusion over whether it actually includes student accounts or not. I thought it did but replies to my thread suggest it isn't. Either way I've moved to Natwest

https://forums.moneysavingexpert.com/discussion/2700969

ultimatedingbat

I've not had this letter yet but I was told it doesn't affect student accounts