Returned S/O charge

FreddieFrugal

Hello,

I've had three Lloyds Classic Vantage accounts which I had full and transfering £1000 p/m between themselves to get the interest.

When the rate dropped in July, I took the money out of them to put somewhere else, but forgot to cancel the rolling s/o. Received three letters about it through the post which is when I realised, they just suggested that the s/o didn't happen because there was no money in the account. So fair enough, reminded me to cancel them.

Anyway logged on today and seen that my accounts were all in negative figures by £10.

So I've been charged £30 because there wasn't any money to transfer between my own accounts!? Within the same bank!?

Is that allowed? Have I any grounds for complaint, this seems completely ridiculous to me. There was no mention of a charge in the letters I was sent. It just said they were unable to process the standing order. No mention of charges at all.

grumbler

IanRi wrote: »

Is that allowed?

Yes

Have I any grounds for complaint, this seems completely ridiculous to me.

You have grounds for asking politely for a gesture of goodwill.

There was no mention of a charge in the letters I was sent. It just said they were unable to process the standing order. No mention of charges at all.

What would it change if they mentioned? Normally, they do have to give you a notice about charges, but so far they charged you only for the rejected SOs, not for remaining overdrawn.

Dobbibill

I would suggest you speak to them (nicely), explain the simple error (mistakes happen, we are all human) and ask if they would be kind enough to have a look at the charges for you and refund/waiver them. Also either ask them to cancel the S/O's or make sure you do it via internet banking otherwise it's not going to stop.

Good luck

DB

FreddieFrugal

Dobbibill wrote: »

I would suggest you speak to them (nicely), explain the simple error (mistakes happen, we are all human) and ask if they would be kind enough to have a look at the charges for you and refund/waiver them. Also either ask them to cancel the S/O's or make sure you do it via internet banking otherwise it's not going to stop.

Good luck

DB

Will have a go. Thanks

agrinnall

I actually think the OP has a point. Had he tried to do the same transfers using online banking he'd simply have got some sort of message saying insufficient funds. Given that SOs are just an automated FPS transfer I don't believe there would have been any manual actions required by the bank that would have justified a charge.

Thrugelmir

IanRi wrote: »

Is that allowed? Have I any grounds for complaint, this seems completely ridiculous to me.

Someone in the bank had to spend time writing to you. If you don't bear the cost who should?

Dobbibill

IanRi wrote: »

Will have a go. Thanks

any news? did you ring?

DB