Unplanned overdraft charges

Ben1980

Hi I have a lloyds account with no overdraft facility. An insurance company I had used last year renewed my policy automatically which sent me into unplanned overdraft. I wasn't aware of this and didnt consent to the renewal at the time. Lloyds charged me £10 a day for this plus other fees until I paid money into the account. Has anyone got any advice on claiming back these charges as this seems unfair. Many thanks, Ben

GingerFurball_2

Lloyds will refund them once in a 12 month period.

pinkdalek

Ben1980 wrote: »

Hi I have a lloyds account with no overdraft facility. An insurance company I had used last year renewed my policy automatically which sent me into unplanned overdraft. I wasn't aware of this and didnt consent to the renewal at the time. Lloyds charged me £10 a day for this plus other fees until I paid money into the account. Has anyone got any advice on claiming back these charges as this seems unfair. Many thanks, Ben

Am I the only one who thinks the bank has not done anything wrong?

Contact the insurance company as they are the cause of the issue.

PeacefulWaters

Ben1980 wrote: »

Hi I have a lloyds account with no overdraft facility. An insurance company I had used last year renewed my policy automatically which sent me into unplanned overdraft. I wasn't aware of this and didnt consent to the renewal at the time.

You almost certainly did.

Lloyds charged me £10 a day for this plus other fees until I paid money into the account. Has anyone got any advice on claiming back these charges as this seems unfair. Many thanks, Ben

Based on your version of events, it's the insurance company who should reimburse you.

Based on my interpretation of events, you are most likely at fault for not spotting the auto-renewal option.

The bank has simply acted in accordance with its terms and conditions and charging tariff. They have not behaved unfairly.

That said, a phone call to the bank with a polite request to reimburse will most likely get a positive response for you.

Kim_13

If you are mid statement you could ask Lloyds for proof of the charges so that you can go about reclaiming them from the insurance company.

I doubt many people here consent to autorenewing policies, since they are very often at a vastly increased premium. Did you check your emails etc to check that the company did not notify you? If so, point this out to them and request a refund together with the charges that you have incurred from the bank.

In future, I would expressly state that you do not want an autorenewing policy (most will give in and sell you a standard one when you threaten to go elsewhere if they don't) and request that your card details are not retained by them (if you haven't done this already.)

Marchitiello

I think that even on auto renewal you must have received the renewal notice at least 21 days before it was due to be charged with the complete details of the policy and charges. Although I doubt it that they have not sent you this, in case they really didn't, you have legal right to make a claim against them. Otherwise, it is not the bank or the insurance fault, although you could try to ask for a refund from your bank as a one off.