bank paid out money without O/d

sionydoors

this is a strange one, my bank LLoydsTSB paid out £600 for an item out of my current account even though i had no OD facility, and since then they are giving me charges ( which I am trying to reclaim) and phone calls sometimes 10 times a day. I am a disabled student who is 38 and this almost bullying is not doing my health any good what so ever, I have argued that they should never have paid the money out but they say I should have has that much money in my account, I have stated so if i purchased a car for 20,000 they would pay out and then bill me but was told they would!!! which is total nonsense!!! the account now stands at £1127 OD which is total madness and has totally messed up my credit rating!!!
This happened in Sept 2011 and if i kept my account in good order i was ment to switch to LLoydsTSB student but cannot now. not many banks accept full time open university courses for a bank account
anyway can someone pls advise me on what to do next

Premier_2

sionydoors wrote: »

this is a strange one, my bank LLoydsTSB paid out £600 for an item out of my current account even though i had no OD facility, and since then they are giving me charges ( which I am trying to reclaim) and phone calls sometimes 10 times a day. I am a disabled student who is 38 and this almost bullying is not doing my health any good what so ever, I have argued that they should never have paid the money out but they say I should have has that much money in my account, I have stated so if i purchased a car for 20,000 they would pay out and then bill me but was told they would!!! which is total nonsense!!! the account now stands at £1127 OD which is total madness and has totally messed up my credit rating!!!
This happened in Sept 2011 and if i kept my account in good order i was ment to switch to LLoydsTSB student but cannot now. not many banks accept full time open university courses for a bank account
anyway can someone pls advise me on what to do next

If you didn't have the £600 in cleared funds available, you really should not have authorised the transaction in the first place.

However, you did and that was taken by the bank (under the terms you agreed to!) as a request for an overdraft. It is not a nonsense - read your terms and conditions again.

Save your health any further damage and pay the creditor their money back.

dunstonh

this is a strange one, my bank LLoydsTSB paid out £600 for an item out of my current account even though i had no OD facility

Nothing strange about that. It is not for the bank to decide how you spend your money. In many cases, they have no choice but to pay entries (cheque guarantee cards used, debit card entries, loan payments to in-house debts, slow payments authorised when balance was higher etc)

I am a disabled student who is 38 and this almost bullying is not doing my health any good what so ever, I have argued that they should never have paid the money out but they say I should have has that much money in my account,

What about your responsibility to not try and spend money you dont have?

account now stands at £1127 OD which is total madness and has totally messed up my credit rating!!!

Given the way you spend money without knowing you have it or not, perhaps it is best your credit rating is messed up.

I'm sorry that you will not like this answer but the banks are not responsible for the transactions that you make. You are. The banks have to make a quick decision on whether to pay the item or not or they may not have the choice in many case. If they dont pay the item, people complain. If they do pay the item, people complain. They cant win.

It is your job to control your spending. If you leave it to the bank then it will cost you a fortune in fees.