MSE News: Lloyds TSB and Bank of Scotland to revamp overdraft charges

MME_2

Paul38 wrote: »

On mine it showed that they had paid the Direct Debit then later in the day rejected it. I phoned up and argued that they paid it then withdrew it and clearly they were doing this to make money out of the situation.

Or...clearly direct debits get paid first thing in a morning and you have until 15:30 the same day to get sufficient funds in your account to pay it. If you don't by 15:30 the direct debit gets returned. So perhaps have enough money in your account to pay your direct debit(s) or don't have it in the first place?

Paul38

Er....I got the charge refunded! As it was done before 3.30 AND they have never made it clear that the buffer doesn't apply to Direct Debits and to be honest if it doesn't apply to Direct Debits then why did the system allow it to be paid/

The important point here is....I got the charge refunded

tifo

Paul38 wrote: »

Er....I got the charge refunded! As it was done before 3.30 AND they have never made it clear that the buffer doesn't apply to Direct Debits and to be honest if it doesn't apply to Direct Debits then why did the system allow it to be paid/

The important point here is....I got the charge refunded

Not really, you paid before 3.30 which they allow so there was never a return charge applied.

digi-ghost

One thing that's not mentioned in the article is the £5 that I get charged just for the privilege of using my authorised overdraft, in addition to any interest. In effect, if I go above the free overdraft into my authorised additional arrangement, I get charged £5, as well as any interest charged on that additional amount...

pixwix

I didn't normally bank with Lloyds. But when the wife's father died, we took out a Lloyd's account to keep matters separate from our normal banking until such time as we got the estate sorted out. For various reasons that took a year. Bad enough that Lloyds seemed to go out of their way to be unhelpful at every step, but they heaped charge upon charge at every excuse and opportunity. For an entire year we asked every few weeks for regular printed statements. They were promised again and again but never ever arrived - not one statement in that whole year. A regular excuse was that we'd 'ticked the website box for online statements.' A bit rich as we'd never asked for or had an online facility with that account. Another was that we could get a statement at any ATM (not even minimally true.)

The crunch came when we strayed into the red when allocating moneys to various family claimants - they told us (by snail mail despite having our home and mobile numbers) we were £20 over the mark and they'd be charging £5 a day until it was sorted. My plea that we might not have been in the red if they'd just provided the printed statements we'd repeatedly asked for, was ignored. Pay up or else - they weren't even polite.

We did pay up - and cancelled the account - which seemed to mystify Lloyds no end. Couldn't be anything they'd done, they were sure.

As I said in the title, I'd keep money under a mattress before I'd ever bank with that grasping incompetent bank again.

Hominu

pixwix wrote: »

Another was that we could get a statement at any ATM (not even minimally true.)

To be true, you could have used an ATM each week to request a statement to see what the balance on the account was and the last so many transactions. If you wanted a full printed statement every week they can do this for you inside, but it'll cost.

pixwix wrote: »

The crunch came when we strayed into the red when allocating moneys to various family claimants - they told us (by snail mail despite having our home and mobile numbers)

For good reason - they don't have time to check each and everyone's account and phone them if they become overdrawn. Letters are sent out automatically. Even if they did, they couldn't say much without taking you through security and you wouldn't want that without knowing it was an authentic call. A letter is far easier for everyone.

opinions4u

pixwix wrote: »

I didn't normally bank with Lloyds. But when the wife's father died, we took out a Lloyd's account to keep matters separate from our normal banking until such time as we got the estate sorted out. For various reasons that took a year. Bad enough that Lloyds seemed to go out of their way to be unhelpful at every step, but they heaped charge upon charge at every excuse and opportunity. For an entire year we asked every few weeks for regular printed statements. They were promised again and again but never ever arrived - not one statement in that whole year. A regular excuse was that we'd 'ticked the website box for online statements.' A bit rich as we'd never asked for or had an online facility with that account. Another was that we could get a statement at any ATM (not even minimally true.)

The crunch came when we strayed into the red when allocating moneys to various family claimants - they told us (by snail mail despite having our home and mobile numbers) we were £20 over the mark and they'd be charging £5 a day until it was sorted. My plea that we might not have been in the red if they'd just provided the printed statements we'd repeatedly asked for, was ignored. Pay up or else - they weren't even polite.

We did pay up - and cancelled the account - which seemed to mystify Lloyds no end. Couldn't be anything they'd done, they were sure.

As I said in the title, I'd keep money under a mattress before I'd ever bank with that grasping incompetent bank again.

So, in summary, they messed up the statement request.

You messed up managing the money in the account.