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Warning. Dont use Lloyds

2

Comments

  • colsten
    colsten Posts: 17,597 Forumite
    10,000 Posts Seventh Anniversary Photogenic Name Dropper
    No problems with Lloyds. I have held many current and savings accounts with them over the last decade. Some have been closed, with no problems, but 4 current accounts and 1 savings account are still open and are running like clockwork.

    I never had to pay any fees but Lloyds always paid me interest.
  • colsten
    colsten Posts: 17,597 Forumite
    10,000 Posts Seventh Anniversary Photogenic Name Dropper
    magic57 wrote: »
    I'm helping a friend close his account
    ciaccino wrote: »
    Cannot make a formal complaint because they do not keep a record of my visits to the branch and when I have insisted they've called me a liar.

    I wouldn't be surprised if they would not take a complaint from you as it doesn't seem to be your account - unless you are acting under a POA.

    All account holders can raise a complaint at any time they like.
  • colsten wrote: »
    I wouldn't be surprised if they would not take a complaint from you as it doesn't seem to be your account - unless you are acting under a POA.

    All account holders can raise a complaint at any time they like.
    You are misquoting me. I have nothing to do with the OP's case. I have an account at Halifax and it's mine. I am not sure what you want to assume with your post.
  • My guess - its a business account.
    Branches cannot close these accounts - the business centres do this.
  • colsten
    colsten Posts: 17,597 Forumite
    10,000 Posts Seventh Anniversary Photogenic Name Dropper
    ciaccino wrote: »
    You are misquoting me. I have nothing to do with the OP's case. I have an account at Halifax and it's mine. I am not sure what you want to assume with your post.

    Apologies, I wrongly thought you are the OP. It stand by my statement that all account holders can raise a complaint at any time they like. This is true for any bank.
  • cheexy
    cheexy Posts: 472 Forumite
    Tenth Anniversary 100 Posts Name Dropper Combo Breaker
    Having given your advice due consideration, I've decided to keep using Lloyds...the main reason being that to "avoid" them would cost me around £157 a year, and the price of half a dozen cinema tickets.

    I hope you don't mind. :)

    Those cinema tickets are quite handy. Used two of mine 3 weekends ago ;):D
    £47605.33 outstanding in C.C (£8000 Interest free till January 2025)
  • My guess - its a business account.
    Branches cannot close these accounts - the business centres do this.

    Or it's overdrawn.
    DEBT FREE!

    Debt free by Xmas 2014: £3555.67/£4805.67 (73.99%)
    Debt free by Xmas 2015: £1250/£1250 (100.00%)
  • Dobbibill
    Dobbibill Posts: 4,199 Ambassador
    Part of the Furniture 1,000 Posts Mortgage-free Glee! Name Dropper
    magic57 wrote: »
    .

    I'm helping a friend close his account and so far it has taken 2 months with fees being racked up in the meantime.

    Are these Account Fees?

    If they are account fees then why has your friend not changed to a fee free account. This can be done instantly in branch or over the phone.

    Or Are they charges?

    Any outstanding money owed needs to be paid before the account is closed as previously stated by other posters.

    If they are charges.....it would be racked up (taken out of the account) 2 months later as their charging structure works that way. eg - if charges were accrued on the account in Dec, your friend would be notified of them in Jan and they would debit in Feb.

    If everything is paid and nothing is owed the account can be closed.

    Hope this helps your friend
    I’m a Forum Ambassador and I support the Forum Team on the Budgeting & Bank Accounts, Credit Cards, Credit File & Ratings and Energy boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.

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  • lee111s
    lee111s Posts: 2,987 Forumite
    Eighth Anniversary 1,000 Posts Combo Breaker
    On the flip side, I think they're great.
  • magic57
    magic57 Posts: 738 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    So just because you have had a problem with them, others should avoid them...... Hmmmm I think not.

    I've personally not had a problem with them in all the years I've had an account with them.

    If there is fees on the account, they wont close it until all fees are paid and the account is up to date.

    Perhaps this is why Lloyds won't close the account as your friend owes them money from the fees the account has!!!

    No the fees are because they didn't act on any of the letters or visits to the bank. They appear to have lost all 3 letters sent over a period of 2 months. There is a monthly fee which has built up. The account is no longer in use.
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