Lloyds bank now charging £5 usuage fee!

wendywoo67

Ive received a bank statement, for an account which i have an arrangement with to pay my overdraft off each month. I dont use this account only for paying off the overdraft!. I received a statement stating that they are now going to deduct £5 amonth for usage fee, but with the interest and this new fee, i wont be paying enough back each month. even though i thought i had an agreement to pay back £7 a month and the overdraft will go down each month!. I have spoken to them only to be told that this is the fee, even though i have not received any letter stating that they will be starting to charge £5. Can they do this? Im really annoyed.. any help....thanks

Premier_2

How strange you didn't receive a letter?

They sent out letters to all account holders in July 2010 about this change. As you presumably have the correct address registered with them (as you are getting statements) I would suggest you have a word with your local Royal Mail office and the police too regarding this lost or stolen mail.

Don't forget to get a crime number...

poorandindenial

Don't be so hasty premier, I definitely didn't recieve the letter and am really hacked off that my, typically 35-70p a month charge for interest has been hiked with a £5 usage fee. I open (and read, I am that sad) all of my letters, including the almost one a week I used to get offering me a loan (until I got marketing rubbish stopped) I also have a very clear and beautifully set out offer of more credit cards and a savings account, ALSO they manage to offer me savings and insurance alternately each time I log onto internet banking. All this but I received no letter about a new charge. I have lots of my previous overdraft interest statements sitting around and there is no note on there. It isn't like they haven't had the opportunity to make absolutely sure the information got through to me.

But hey, I can vote with my feet so not going to get too het up, just got to work out where I want to move to... Research here I come.

madkoi

I am too paying back an overdraft that Lloyds TSB caused me, due to exstorsionate bank charges! I only recieved a letter this month, AFTER my bank statement from december, lisitng a £5 fee! So now my interest is MORE than it was previously, & I have no choice to pay it! :mad:

I HATE them with a passion! And there call centres dont understand a word you are saying! Grrrrrr

MissUno

What are our options with this fee? I logged on to my online banking and see I got this charged yesterday, along with overdraft interest AND the £12 fee for my Gold account.

I'm livid.

Premier_2

The options as I see it are:

a. Pay the charge for an overdraft

OR

b. Repay the overdraft

OR

c. Contact the bank to see if they will waive the fee for you (doubtful)


If you do not have the funds available to repay the overdraft, you may be able to still repay it by getting a loan (usually much cheaper for long term borrowing) either from the LTSB or another source, or moving banks and getting an overdraft facility from the new bank to pay back the money owed to LTSB.