LLOYDS TSB - meeting bank manager 4pm today

back2square1

Can anyone give me some helpful tips and advice when I meet with the Bank Manager this afternoon at 4pm. The problems that I will be discussing and seeking solution to are as follows:

1. Last Wednesday I took cheque into my local Lloyds TSB branch to pay off my personal loan. Settlement figure was £17300. I sat with an adviser who processed the cheque and explained it would be cleared and loan paid Monday 26 March.

2. Today I have visited my local branch to find they have paid the loan but have charged me £250 for doing so!!!! Apparently they charge £250 because I paid loan off via the bank and not direct to Lloyds TSB Loan department myself!

3. The adviser I sat with last week never mentioned any charge would be made against me. If she had I would not have let her process it!

4. Last week I got full copy of my credit report as I am currently applying for a mortgage. £4360 outstanding balance appeared on it - Lloyds credit card. I paid this credit card off months ago and closed the credit card account. On the report it states Lloyds TSB last updated information about this debt 9/2/07.

5. I have got it in writing from Lloyds that this credit card is definitely paid, settled and closed so I hope if I show this to mortgage lender they will accept it as not being an outstanding debt any longer. However, I shall be raising the issue with Bank Manager today.

6. I am now definitely going to change my bank account to a different bank for my wages to be paid into and bills paid out of. However would it be best I do not close my bank account with Lloyds TSB because I am currently in the early stages of reclaiming my bank charges from them?

Rafter

2. Definately get the charge waived. How can they possibly justify a £250 fee! They will probably try to say it is in your terms and conditions but won't want this to go to ombudsman or court so if they refuse just add it to your charges chlaim.

4. Does take a time for reports to update. Are you sure your credit report doesn't say 'settled' and the £4360 is just the balance before you paid it off?

6. Suggest you don't move banks till after mortgage has gone through. 'Time with current bank' can count a lot with mortgage companies so may be better to wait.

As for new bank ideas, suggest Smile, First Direct or Nationwide if you want long term good value, customer service and interest rates or Halifax or Alliance & Leicester if you want good short term rates and incentives but are happy to move account every 1-2 years when the initial offers are withdrawn. Watch out for 'zero tollerance' fees too!

R.

back2square1

Thanks for your advice, my girlfriend and I are visiting Nationwide afterwards. I opened an account there 2 months ago just in case Lloyds close my account when I reclaim bank charges. I am going to transfer wages and direct debits to that account today and will leave Lloyds one open whilst I apply for mortgage and also whilst I am reclaiming bank charges.

My girlfriend has been with Nationwide for 12yrs and has never had any problems, bank charges or queries with her flexaccount. Nationwide customer service is second to none and you are treated like a customer when you visit the branch or telephone them.

Lloyds TSB treat myself as vermin whenever I visit my local branch, they do not know what Customer Service is and I would definitely suggest they urgently get some training in this area.

My parents have banked with Lloyds TSB for over 40years!! Years ago the Bank Manager invited them out for freemason events, dinners, etc because they were one of the best business account customers!! My parents have both said today they are now closing their business account with Lloyds TSB. I can't wait to see the Bank Managers face when he finds out about that!!!

jonesMUFCforever

I have already answered your questions on another posting.
I am curious as to your post 3 - what were you going to do with the cheque had they told you about the early settlement fee??

As for your parents closing their business accounts - well that is their decision but it won't affect you personal account manager one bit as Business and Personal are run totally seperately.

I could say a lot more here but I don't want to inflame the situation.

back2square1

The £250 early repayment charge is included in the settlement figure that I was given. I met with the Bank Manager yesterday and he has reimbursed my bank account for £102.33.

The information I had been told by a member of staff yesterday morning was incorrect apparently. After a 1 hour meeting it was agreed somewhere along the line there had been a miscalculation on the interest charged daily since I had requested loan settlement figure (£4.89 a day).

This error was no fault of my own, it was lack of training amongst his staff when I have visited the branch and have been told the wrong information. I have now opened a bank account elsewhere and shall be transferring my wages and direct debits accordingly.

I know people are wondering why I told the Manager this yesterday re: parents business account is going to be closed too. This is because we have all been loyal LLoyds TSB customers, I have for 19years and my fathers business for 40yrs. In the last few years we have encountered terrible service from this bank. Every month there are mistakes that need to be rectified on parents business account and its not acceptable anymore. The service that Lloyds TSB provide is very poor. I am only speaking from OUR personal experiences, and I am sure there are other customers of Lloyds who probably have received great service. But on this occasion they have failed us too many times and we have had enough, hence the closure of personal accounts as well as business accounts within the near future.

Thanks to everyone who replied to my thread, I was very worried about meeting the Bank Manager yesterday afternoon.

I would just like to add the following statement that I heard yesterday whilst I was sat in his office
Bank Manager "I don't know anything about Internet Banking, it is not something I wish to learn about, seems all a bit too confusing for me" You can make your own judgements about his comment, I was very surprised to hear a Bank Manager admit something like that.

MABLE

If you had made a payment into your loan account and left say £1.00 outstanding you could have then asked for a settlement figure and that would have been based on the outstanding amount. This way you would have only paid a a very, very small amount to settle.

Unfortunately the branches are staffed by people who want to sell you something. When I enquired about a £25,000loan they did a credit search without my permission. When I told them I was only enquiring this low life told me I was a time waister. All he was excited about was his commission on the loan. Oh dear bring back Mr Manwaring.

newfoundglory

back2square1 wrote: »

I would just like to add the following statement that I heard yesterday whilst I was sat in his office
Bank Manager "I don't know anything about Internet Banking, it is not something I wish to learn about, seems all a bit too confusing for me" You can make your own judgements about his comment, I was very surprised to hear a Bank Manager admit something like that.

Thats bizzare. Sounds a bit like a technophobe to me - since LTSB internet banking is perhaps one of the best in terms of clarity, ease of use and navigation - and i've used many internet banking sites!

regularsaver1

Why does a manager in a branch need to know about internet banking. You are using their branch - so it is different on-line

beanielou

Would expect a LLoyds person to at least know the basics of internet banking though.

regularsaver1

yeah basics, but they probabaly only know if they use it themselves, otherwise why would they need to know

most banks have an on-line helpdesk

misspoppy

newfoundglory wrote: »

Thats bizzare. Sounds a bit like a technophobe to me - since LTSB internet banking is perhaps one of the best in terms of clarity, ease of use and navigation - and i've used many internet banking sites!

I have to partially disagree with you on this one, whilst its great to use its a nightmare to get into. Both my BF and I have nightmares with it and yet I use other banks online daily.