Reclaim missold bank account, do you think I have a good case?

Lola77

Hello, I currently have a £2000 overdraft with lloyds. I am focusing on paying this off as I currently am transferring money to a savings account, I will then transfer this to my normal account and phone up to pay this off the overdraft if that makes sense.
Anyway, I've had it for a few years. I think I used to have the silver account after the classic account. Anyway, a few years ago I kept constantly getting calls from my local lloyds, I kept missing the calls and they kept phoning. Eventually I spoke to them and they explained because of the overdraft, I'd be much better off getting a premier account. They explained the interest charges were lower and the first so much is interest free. After the lady talking I stupidly didn't look into it and agreed to upgrade to the premier account.
Years later and focusing on this overdraft more than ever, I now beleive I was definately missold the bank account. I've worked it out that by having the premier account, on my 2k overdraft I pay £18.39 interest, and a £6 monthly overdraft usage fee. The account though costs me £25. This is a total of £49.39 per month.
However, with the classic account I can see that interest is a lot higher on this same overdraft at £30.73 with a £6 monthly usage overdraft fee, however the account is free so the total is £36.73 a month.
I know it's only £12.66 a month that I'd be saving, but it adds up. I originally had the silver account for phone insurance only. On the premier account I had it too but with extras I don't use.
I could do without the phone insurance to be honest. I don't use any of the other benefits.
Do you think I have a good case of reclaiming missold bank account charges?
I don't want them to cancel my overdraft fully out of spite though and I be in a worse situation.
Please let me know your thoughts.
Kind regards :money:

agrinnall

It won't cost you anything to complain but I think it's unlikely your complaint will be upheld. And the reason is...

Lola77 wrote: »

After the lady talking I stupidly didn't look into it and agreed to upgrade to the premier account.

eskbanker

The acid test is the relative charges at the time of moving to the packaged account several years ago rather than making a comparison on today's figures.

CLAPTON

why are you putting money into a savings account rather than directly into the bank a/c and reduce the OD?

jonesMUFCforever

The premier account overdraft rate used to be 6.9% some years ago it was a lot cheaper than a standard account.
Also not using part of the service is not a good enough reason to get compo - OP you could have used the phone if you wanted to, you could have used the AA cover as a driver or passenger if you needed to, and you could have travelled using the worldwide travel insurance if you wanted to.

lippy1923

Sorry OP, I don't think you have a good case.