Lloyds account control facility

Toggertytoo

I have found it hard to manage all my direct debits and standing orders recently and seems every month a few are returned and I end up with huge fees for them being returned and also for being overdrawn.

I then found out by accident that I can have a 'control' put on my account so if there isnt enough money in there, payments cant be taken and you dont go overdrawn or get charged for return fees. Its free for 6 months and also the charges I had to pay this month have been wiped. I'm relieved.

Downside is after 6 months it cost £10 a month but that will still save me loads on charges. Funny thing that this service doenst seem to be advertised much...

anna42hmr

its on their website under the current account section here http://www.lloydstsb.com/current_accounts/control.asp plus i think i have seen it mentioned in one of their booklets i had a while back

jonesMUFCforever

Why not try harder to balance the books?
Cancel all but necessary direct debits.

gt94sss2

HSBC offer something similar called Bank Account Pay Monthly

I think it operates slightly differently to the Lloyds one though as it will let you go overdrawn but won't impose any charges if you do - on the plus side this does mean that your important direct debits get paid..

However, I can't see this or the Lloyds option as being that popular to be honest - as jonesMUFCforever says its better to try and get your budgeting under control (e.g. always aim for a positive balance of £100 rather than £0)

Regards
Sunil

MME_2

Personally I would just budget better (that means cancelling that Sky direct debit you may have!) and sign up for the text alerts. If you use a debit card, the lower limit alert is handy to stop you spending.