Paid-for Current Account Charges

save_me_2

For around a year I had a standard current account at Lloyds TBS, with the 'Control' function, which they offer to customers like me who are clumsy with money management and regularly pick up overdrawn/missed payment charges.

'Control' means that they won't allow any payments that would push an a/c overdrawn and charges a maximum of £10 per month.

That was up until six months ago, when I signed up for a 'Gold' account, which it seems overrides the 'Control' function.

I've gone overdrawn many, many times since then and it's costing me on average more than £50 per month in unauthorised overdraft fees. Seems a bit disproportionate, as I've never been more than £100 overdrawn.

Do you folks believe I they will respond favourably were I to ask for the fees to be refunded, as their staff repeatedly attempted to upsell this account when my account history should have shown that it's not suitable for me.

Perhaps just threatening to move banks would work better?

Would be lovely to hear your thoughts.

Save me thanks fellow money savers x

steflarne

Its unlikely you'll get any fees back I'd think as the removal of the control was presumably in the terms and conditions of the new account? Something similar happened to a friend of mine, her debit card previously didn't allow her to go overdrawn, account upgraded, new one did, she went £200 overdrawn without noticing, accruing lots of fees as you'd imagine. Bank were having none of her attempts to get any of the fees waived, though I believe that was Nationwide I imagine Lloyd's will be similar.

The only way they are likely to refund is if you say you were directly mis-led by a member of staff about the account, i.e. they told you control wouldn't be removed with the upgrade and then it was. Simply arguing you shouldn't have been offered it probably won't get you anywhere. If you say it wasn't made clear, that is you weren't explicitly told, when the account was upgraded that the control was removed and if you haven't had refunds before they might knock a bit off as a goodwill gesture though they'd be under no obligation to. Best of luck though.

MoneySaverLog

I fail to see any benefit in having and paying for control

If they stop the DD's you'll end up being charged and possibly affecting credit file too.

opinions4u

Self-control is excellent value for money.

innovate

opinions4u wrote: »

Self-control is excellent value for money.

In fact, no amount of money can pay for self-control.

jonesMUFCforever

I fail to see someone with a control facility would be eligible for an upgrade to Gold.
Who suggested this change the bank or yourself?

If it was the bank maybe try a missale through the complaints procedure.