llyods tsb sneaky charges

chris01623

As a self confessed online banking addict (I chesck my account daily) I have recently noticed a change in the way Llyods Tsb process payments. Payments through debit cards are now being processed late in the day rather than after midnight the following day.

Doesn't seem much but when you factor in the £5 soon to be £6 pound a month for overdraft usage it soon becomes relevant.

Here's an example that happened to me this week.
I checked my current account on Monday at 2pm I had a balance of around £5 (yes I know it's not much) and I knew a regular tax credit payment would be going in the next day so I felt all was well. I knew a payment was due to a supermarket and if it had gone I would have transferred money from a different account to stop any overdraft charges.
The next morning I checked the money was in my account but the supermarket payment had also be debited the previous day and now I have an unexpected overdraft fee.

This may seem petty but I can't be the only one fed up by tactics like this from our banks. To me it seems totally unfair. The bank was very quick to make themselves look good by giving customers untill three o clock in the afternoon to put their account right before adding fees but this new way of debiting money makes it impossible to put right any mistakes.

[Deleted User]

I don't really get why this is sneaky or unfair. Surely this is down to you for spending money that isn't in your account?

chris01623

I understand what your saying, but the bank was so quick to go on about how we all make mistakes and that they would give us time to put it right before they imposed charges.

We all run close to the line at times with our money and it just seems at such a time of hardship for many,the bank is not helping but finding a way to penalise those who are finding times the hardest.

exel1966

:rotfl::rotfl: Sneaky, Unfair !! :rotfl::rotfl:

[Deleted User]

People do make mistakes but you say that you spent because the money would be in next day. Hardly a mistake.

opinions4u

There are things banks do badly.

But surely processing items sooner is a good thing.

andy_allblack

opinions4u wrote: »

There are things banks do badly.

But surely processing items sooner is a good thing.

Totally agree, personally it's always been an irritation, using a LTSB debit card, instead of payment leaving your account ,that particular day, the cash is withdrawn 24 hours later, or whenever, at least this way you know how much is your account, sooner than later.

Gromitt

chris01623 wrote: »

As a self confessed online banking addict (I chesck my account daily) I have recently noticed a change in the way Llyods Tsb process payments. Payments through debit cards are now being processed late in the day rather than after midnight the following day.

I wouldn't say it was sneaky, I would never have made a payment knowing the money wasn't in my account. What you were doing in the past was known as 'undocumented behaviour'.

The same happened at work recently. The contract of employment states that every employee will be paid 'By the end of business on the 25th day of the month'. However, for the past couple of years, the money was in your account before that date (normally 23rd or 24th). People therefore setup DDs and SOs for the 25th. Now payments are made by faster payments and arrive in your bank account sometime during the 25th, and as such, DDs and SOs are bouncing, but its still "By the end of business on the 25th day", so they are not liable, but their are a number of people complaining.

chris01623

Glassannie wrote: »

People do make mistakes but you say that you spent because the money would be in next day. Hardly a mistake.

I did make a genuine mistake forgetting about a new direct debit. I didn't spend the money because I thought I could get away with it. When I checked the account I realised what had been paid where and what had not. My thought were that as the money would be in the next day there would be no harmed caused. as it now happens I have a £5 fee for going £2.45 into the chargable overdraft and that the money was only "borrowed for hours if not minutes

luke.stewart

I closed my lloyds tsb account, sneaky charges were getting too much

exel1966

Trolls are out today in force I think !