Lloydstsb overdrafts

Rupert_Bear

I was in one of their branches this afternoon to find out when my overdraft facility was up for renewal. The teller said that as from about 8 months ago they did not renew on an annual basis. If you have an overdraft it is now on a permanent basis. However he did say if the facility was not used for a few years they would probably write to you about it.

izools

I also found out that if you reduce your OD by the smallest permittable amount, it puts off the review for a year from that date

MoneySaverLog

Rupert_Bear wrote: »

If you have an overdraft it is now on a permanent basis. However he did say if the facility was not used for a few years they would probably write to you about it.

Hope they don't just take it away cause it's not used for a few years. I only have it there just in case I do go overdrawn by accident. Has happened a couple of times in the 6+ years I've banked with them.

izools wrote: »

I also found out that if you reduce your OD by the smallest permittable amount, it puts off the review for a year from that date

More than likely because they are reviewing it again at the same time ;-)

Azrael_1701

izools wrote: »

I also found out that if you reduce your OD by the smallest permittable amount, it puts off the review for a year from that date

Only if you have that ammount available on the system anyway.

Say your renewal is 01/01 and you have £1000.

If your recomended limit is £1000, and you reduce it, you get another year from the reduce date.

If your max limit is, say, £900, and you reduce the £1000 to £950, the renewal stays 01/01.