Lloyds TSB un planned overdraft charges- maths question!

MoneySaverLog

Gromitt wrote: »

Expect charges of £10 a day plus £5/month for unplanned ODs of more than £25.

From October, the charges are increasing for both planned and unplanned overdrafts.

Though they are increasing the fees I seem to remember reading somewhere that they are now going to offer a £25 interest free OD for classic account customers, (more if you have a AVA) and a £10 buffer so going up to £35 OD from 2nd October would have cost you nothing.

trikidy

Excellent!

Many thanks!

Gromitt

MoneySaverLog wrote: »

Though they are increasing the fees I seem to remember reading somewhere that they are now going to offer a £25 interest free OD for classic account customers, (more if you have a AVA) and a £10 buffer so going up to £35 OD from 2nd October would have cost you nothing.

What I was told is that there are multiple options from October:

Upto £10 overdrawn - fee free.
Upto £25 overdrawn - £5/day
Over £25 overdrawn - £10/day.

BUT, if you apply and pass a credit check (or open an account on or after the 1st October), they'll change it to:

Upto £35 overdrawn [Classic customers] - fee free
Upto £60 overdrawn [Silver customers] - fee free

I didn't really take that much notice as I have my own "buffer" that I treat as a fee-free overdraft.

MoneySaverLog

I'll wait and see what they send me as they've yet to write to me about these changes. I only know because of what I've read on here.