Lloyds cut business account interest rates

Farmer_Fred

We run a small farming business. For the last 10 years we have carried an overdraft of between £70k and £100k.
For no apparent reason our monthly interest rate charges were halved in January of this year and we now pay approximately £300pcm less in interest than we have paid for the last 5 years or so. When we asked the bank why they told us it was because of a "margins realignment policy" and we should consider ourselves lucky as most customers charges were going up!!
I have made some enquiries but can't get a straight answer from anyone. It has been suggested that this change was as a result of an FCA directive. I suspect the bank has been over-charging us but I'm not sure what to do next. I need the overdraft to continue in business so I'm a bit wary of upsetting the bank too much. Can anyone help or let us know why the sudden change?

eskbanker

https://www.lloydsbank.com/business/retail-business/rates-and-charges/lending-rates.asp doesn't suggest any recent change in their rates, how does what you pay match up with what they publish there?

Farmer_Fred

Thanks I will go over the accounts and check it out.