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LLOYDS TSB - Planned Overdraft charges

124

Comments

  • MonkeyMad wrote: »
    Seems quite simple; you go overdrawn you pay a fee for using the service. If you don't want to pay the fee don't go overdrawn. I don't see the fact that you have sunk your savings into a different asset class ie your home changes the logic?

    So what if you got the overdraft when there were different charges - you are not being forced to use it now are you?

    No I am not forced to, and I will go elsewhere. Odd to hear someone happy to pay additional fees for the same service from time to time. You are every company's dream!
  • vindicated wrote: »
    Completely agree with this comment!

    Also, people seem to forget that although in the past there was no "£5" fee...there was the infamous £28 fee for going over an overdraft, not having an overdraft and going into an unplanned one...along with multiple £20 charges, plus interest at a ridiculous rate.

    Now there is a £5 charge for using it, reasonable interest charges, and the disappearance of unlimited £20 charges with a £28 charge thrown in monthly for good measure. :eek:

    Some people want something for nothing regardless of the sector...

    The banks changed their practice, afterall they must make money otherwise you would have no accounts...and we'd still be "bartering" to get what we want!

    Storming into a branch and shouting the odds/complaining will do you no favours, out of courtesy of staff it isnt too much to go into a branch in a calm manner and politely ask for some more information or advice regarding XYZ; if that particular adviser cannot assist then politely ask them to pass you to someone who can!

    Would you like it if the branch staff came into your work to shout the odds at you for something that you have no control over whatsoever?!

    As you can tell, i dislike people shouting and balling to get heard...its rude and just plain ignorant, you achieve nothing more than you would being polite...in fact being polite would get you further (complaining section of my post is not directed at the OP but the general public as a whole :D )

    The only people getting something for nothing is Lloyds!

    Your comments re shouting at anyone or being rude are also off topic but then again so are the majority of replies here.
  • MonkeyMad
    MonkeyMad Posts: 421 Forumite
    edited 16 January 2012 at 6:50PM
    Fees for everything change, but I couldn't give two hoots what my bank charges for a service I choose NOT to use ie an overdraft. If I did want to use it I would choose the one with the lowest price. I'm more concerned with charges I HAVE to pay, so what's your point?

    If I ran a company, my dream customer would be the one who ignored my pricing structure, used the service, and once I had their money, complained about the price (with no basis other than the fact that they would rather pay less)
  • The funny thing mcpaderson is that your anger should be directed elsewhere - not at your bank. I'm sure they would have been much happier under the old regime as would both you and I however it was public pressure via sites like this one that forced their hand to make things 'fairer'. In my opinion it's just a dogs dinner but the one thing I absolutely can't complain about is that it was not transparent - I knew exactly what was happening and had the choice to move if I wanted to.
  • The funny thing mcpaderson is that your anger should be directed elsewhere - not at your bank. I'm sure they would have been much happier under the old regime as would both you and I however it was public pressure via sites like this one that forced their hand to make things 'fairer'. In my opinion it's just a dogs dinner but the one thing I absolutely can't complain about is that it was not transparent - I knew exactly what was happening and had the choice to move if I wanted to.

    Fair enough - any anger/frustration is owing to the responses on here.

    I admit I should have read the terms but missed them. My point was that I was unhappy with the fee and was wondering whether other customers had similar concerns.

    Although I do not use my overdraft, in the past, when there was no penalty fee, it made sense to have it available just in case I did not have money in the account to avoid defaulting on the loan. Like I said, at the moment I move money around to take advantage of interest in my savings account (with Lloyds!) and also do not have the usual 'buffer' of cash I like to maintain having spent a lot buying and kitting out our house. It was short term back up facility, nothing more. It was worthwhile before, but with the additional charges, it is not. That much is obvious.

    Anyway, to those able to give their own helpful opinions thank you, however it is a shame these forums are frequented by know-it-alls that like to post an unhelpful 'I told you so' type comment or one with the benefit of hyndsight, I presume this makes you feel more intelligent, but I do not think that is the purpose of consumer forums. Oh well, whatever it takes to assert your own feeling of worth!
  • MonkeyMad wrote: »
    Fees for everything change, but I couldn't give two hoots what my bank charges for a service I choose NOT to use ie an overdraft. If I did want to use it I would choose the one with the lowest price. I'm more concerned with charges I HAVE to pay, so what's your point?

    If I ran a company, my dream customer would be the one who ignored my pricing structure, used the service, and once I had their money, complained about the price (with no basis other than the fact that they would rather pay less)

    As I have said, in the past, when there was no penalty fee, it made sense to have it available just in case I did not have money in the account to avoid defaulting on the mortgage. At the moment I move money around to take advantage of interest in my savings account (with Lloyds!) and also do not have the usual 'buffer' of cash I like to maintain having spent a lot buying and kitting out our house. It was short term back up facility, nothing more. It was worthwhile before, but with the additional charges, it is not. That much is obvious.

    The complaint is not about the fact that I would rather pay less - its unhappiness about paying more for the same service. Its a common customer complaint - i.e. with rail charges, or televised sports.
  • dunstonh
    dunstonh Posts: 118,549 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Anyway, to those able to give their own helpful opinions thank you, however it is a shame these forums are frequented by know-it-alls that like to post an unhelpful 'I told you so' type comment or one with the benefit of hyndsight, I presume this makes you feel more intelligent, but I do not think that is the purpose of consumer forums. Oh well, whatever it takes to assert your own feeling of worth!

    Its a shame you didnt tell us the facts from the start. Then we could have avoided a lot of it.

    I dont need to feel more intelligent. I know the key T&C of my bank account and have never incurred overdraft charges.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • dunstonh wrote: »
    Its a shame you didnt tell us the facts from the start. Then we could have avoided a lot of it.

    I dont need to feel more intelligent. I know the key T&C of my bank account and have never incurred overdraft charges.

    I told you all of the facts. You made assumptions. If you wanted more info or clarification then you should have asked before making judgements. You went off on your own tangent about profitability assessments, I did not mention this at all. Not as clever as you think you are and you're far too keen to try to tell someone how stupid they are and how clever you think you are.

    Congratulations on never incurring overdraft fees. Very helpful to know this. Not sure why you monitor topics on reclaiming fees - its not to help people.
  • dunstonh
    dunstonh Posts: 118,549 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    I told you all of the facts.

    No you didnt. You said in #1
    I spoke with Lloyds Tsb on the phone and the advisor's approach was... well we can change our terms when we like and we send the terms and conditions out to customers when whenever we do. He also said he cannot do anything about the fees I have already been charged and cannot stop any future fees, even if this meant losing a customer of 20+ years.

    The in post #25 you said
    their telephone banking team told me they do not have the authority to waive fees, if I want to make a request I need to write in / make an appointment with my manager.

    If you had said that to start with then the response would be that you should speak to your account manager and see what they say.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • dunstonh wrote: »
    No you didnt. You said in #1
    I spoke with Lloyds Tsb on the phone and the advisor's approach was... well we can change our terms when we like and we send the terms and conditions out to customers when whenever we do. He also said he cannot do anything about the fees I have already been charged and cannot stop any future fees, even if this meant losing a customer of 20+ years.

    The in post #25 you said
    their telephone banking team told me they do not have the authority to waive fees, if I want to make a request I need to write in / make an appointment with my manager.

    If you had said that to start with then the response would be that you should speak to your account manager and see what they say.

    No. You ignore what I said first "I spoke with Lloyds Tsb on the phone and the advisor's approach was"....

    A Lloyds advisor on the phone and Lloyd's telephone banking team is the same thing. It is you who made the distinction in your head. You assumed the reason was because I was not profitable, you did not ask why. After you going off point I explained that the reason is their customer service team have not been given the authority, which is also bad customer service as in the past Lloyds customer advisers did have this power.

    Its dangerous to make assumptions and my story has not changed, I simply provided more info as I would have been willing to from the outset had you asked as opposed to making assumptions.

    However, for such a know-it-all, I am surprised you are unfamiliar with the authority granted to a Lloyd's adviser and I am therefore suprised that you post on here from a position of knowledge when in fact you are often wrong.
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