Lloyds Bank Personal Overdraft Protection

Mac66 · 9 March 2012 at 1:25AM

Hi all, can anyone provide any advise or success stories relating to reclaiming miss-sold Personal Overdraft Protection with Lloyd's Bank.
I have just completed a financial review and registered for on-line banking and money manager, at which time I noticed an unknown direct debit payment was being take from my account, upon investigation it appears that this is for Personal Overdraft Protection, following cancellation of the direct debit I received a phone call from Pinnacle at which time they advised me what this transaction was for, upon clarification of this information i wrote to Lloyd's Bank to complain, only to receive a letter in response advising that they conducted a extensive search on my Classic account and can find no trace of PPI, today i received a letter from Pinnacle, advising that this is actually POP for my overdraft and that payments have been taken from my account since February 200, totalling £1073.58. I have naturally sent a nice letter back to Lloyd's. I have no record or knowledge to setting this cover up and am somewhat surprised and concerned with exactly what Lloyds bank are up to- Any advice to a financial novice would be appreciated. Regards Mac66.

Mac66 · 23 May 2012 at 8:15PM

Result, had an offer today of £1750.00 plus an additional £50.00 goodwill payment as it has taken such a time to resolve - Bit of a concern that this bank can just apply this POP, more to the point i had to provide a copy of a letter from Pinnacle to prove money taken - Lloyds Bank - " For the Journey"

Percival · 15 December 2012 at 12:21AM

My Bank manager just found POP Pinnacle on my bank account and asked me what it was. Thanks to you we have now told him what it is....The story continues...it has been charged to my account since 1997

Mac66 · 15 December 2012 at 5:32PM

Hi Percival, sounds like you may have some good news, was your bank manager not aware of the insurance charge applied to your account?
Hope your claim goes well, please let me know the outcome.

CheekyMonkey · 5 March 2013 at 3:25PM

Anyone else been successful in claiming POP? If so, how did you submit a claim?

Whilst checking for PPI on a few loans I've actually found a monthly charge of around £3.95 that apparrently relates to POP that I never knew I had (from 2001). That will teach me to check my statements more thoroughly.

I also had an old Income Protection Plan with Lloyds, but I cancelled that many years ago. Incidently that was in place when I took out my loans with 'front loaded' PPI.

CheekyMonkey · 9 April 2013 at 3:38PM

Any further updates on the POP situation?

Anyone else made a successful complaint?

CheekyMonkey · 25 April 2013 at 1:09PM

Just to say that I've finally got somewhere with Lloyds and logged a complaint about POP (Personal Overdraft Protection).
Lots of conflicting stories - was even told that POP only relates to a business account.
Has no one else ever had POP applied to their current account?

Kes50 · 20 January 2019 at 7:06PM

Hi there, did you ever get anywhere with this? Any help would be really appreciated 🙂

Bermonia · 20 January 2019 at 7:39PM

Given OP has not logged in in nearly six years you may struggle to get a response.

If you have a query make a new post, if you have a complaint with regards to PPI then make it to the business that sold it to you and they will respond accordingly.