Lloyds Bank charges on charges

sambodidly

Im with Lloyds TSB Gold account and charged £20.00 per month for the 'priviledge' of having a good overdraft amongst other benefits. Unfortunately, I have been in the overdraft constantly lately and every month I am charged the £20.00 fee, plus overdraft fee and charges.

Is this correct?

Thanks

podperson

I'm sorry if this comes across as harsh because I don't mean it to be and am perhaps missing the question - but why are you asking us whether the fees on your account are correct? Have you checked the terms and conditions, what did you agree to when you signed up? I am not an expert on the Lloyds Gold account but I assume you pay your monthly fee for an authorised overdraft - are you then going over this each month and therefore getting additional fees for the unauthorised one?

sambodidly

Hi

The Gold account allows me to have an authorised overdraft of £2000 and recently I have been in this alot but NEVER over the overdraft limit.

I was on the understanding that I could use this overdraft facility within my account fee but have been charged additional amounts monthly.

I know I should know what I signed up for, but it was about 7 years ago I took out the account and never really used the overdraft until the last 6 months or so.

I just wondered if anybody else had a Lloyds Gold Account and knew the terms without me having to ring them .

Thank you.

noh

sambodidly wrote: »

Hi

The Gold account allows me to have an authorised overdraft of £2000 and recently I have been in this alot but NEVER over the overdraft limit.

I was on the understanding that I could use this overdraft facility within my account fee but have been charged additional amounts monthly.

I know I should know what I signed up for, but it was about 7 years ago I took out the account and never really used the overdraft until the last 6 months or so.

I just wondered if anybody else had a Lloyds Gold Account and knew the terms without me having to ring them .

Thank you.

Lloyds charges are here:-
http://www.lloydstsb.com/media/lloydstsb2004/pdfs/banking_charges_brochure.pdf


As far as I can see you will be charged the account fee of £12 per month.
If you use your overdraft and you borrow more than £100 you will pay an overdraft usage fee of £5 plus interest on the amount above £100. The rate of interest is not stated they tell you to contact yout branch to find out.

There is only a £100 free overdraft on this account so if you borrow more than that you will pay interest plus fees.

Overview here:-
http://www.lloydstsb.com/current_accounts/added_value_accounts/gold_serv_current_account.asp

MME_2

^ All correct and the overdraft rate on the gold account is 17.3%EAR, 1.34% monthly.