llyods tsb sneaky charges

jonesMUFCforever

luke.stewart wrote: »

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

I can't wait for the stock exchange reaction when they open on Monday - probably this will trigger a run on the bank LOL:p

Mulder00

I don't think there's anything sneaky about this.

If you spent the money on Monday, whether processing happens on Monday or Tuesday, the date of the transaction remains Monday.

And the same thing happens on my HSBC account - my available balance goes down as I spend, but the charges only show up on my online banking later (with the correct day of spending). Same thing with my Tesco Credit Card. The dates always match the transaction date, not the processing date.

I don't think this is a tactic by Lloyds TSB - the only one who applied any tactics was you, or so you thought.

MoneySaverLog

If you want a interest free period use a credit card, otherwise assume any debit card transactions take place on the day you use the card. Simples.

callum9999

chris01623 wrote: »

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

So you did something you know was wrong, thinking that you'd "get away with it" - then you didn't actually get away with it this time and so feel the bank is being "unfair" and "sneaky"...

Call them up, apologise and ask for it back then. Though if you're attitude is like the majority of new people on here who act like banks are evil and out to get them, it wouldn't surprise me if you start shouting at them about how they're being sneaky and get £0 back!

YorkshireBoy

chris01623 wrote: »

...<snip>...

Your 'issue' is dealt with in your account T&Cs...

http://www.lloydstsb.com/media/lloydstsb2004/pdfs/personal_banking_terms_and_conditions2.pdf (primarily section 6, but see also condition 8.3[a])

6.1 (and 8.3[a]) says they'll process payment instructions on the working day they receive them, and...

6.2(b) talks about the relevant cut-off times during the working day. Note that not all cut-off times are 3.30pm (as they are in branch).

chris01623

callum9999 wrote: »

So you did something you know was wrong, thinking that you'd "get away with it" - then you didn't actually get away with it this time and so feel the bank is being "unfair" and "sneaky"...

Call them up, apologise and ask for it back then. Though if you're attitude is like the majority of new people on here who act like banks are evil and out to get them, it wouldn't surprise me if you start shouting at them about how they're being sneaky and get £0 back!

As i said I DIDN'T go out and intentionally spend money that I knew I didn't have hoping to get away with it. I made a genuine mistake with a new direct debit.

My arguement is that the bank sent out a letter stating they would help people rectify mistakes by extending the time deadline for charges to 3pm, the new system shows an account in credit at 3pm but overdrawn by midnight

Regarding shouting at banks that is an unfair assumption, the people at the end of the telephone or behind the counter are just doing their job I respect this and I am always polite and thank them for their help regardless of the outcome.
I don't like the decisions made at the top of the bank and I would never take this out on someone trying to earn a living like the rest of us

Gromitt

To be fair, if you go online or use an ATM, it shows 2 balances: "Current balance" and "Funds available".

If I use my debit card during the day on any website or at any shop which does authorisation, I see the "Funds available" decrease by the time the transaction is complete. "Current balance" can take days to decrease as I assume it depends on the actual listed transactions.

So if you had made the payment and then made sure that the account was in credit by 3:30pm, you would not have been charged anything.

For example, at the moment I can see:

£972.64Funds available: £943.22
Overdraft Limit: £0.00


So I can immediately see that this is a pending payment for £29.42 and that I know I can afford that payment.