lloyds tsb

tomcatvmp

hello i need to share my experience .
i have banked with lloyds tsb for over 10 years, last year i developed depression and "bury'ed my head in the sand" somewhat. the result was an 800 pound overdraft. At the beginning of the this year i started the ball rolling to claim back 1500 in bank charges back. Since i did this lloyds bank have been most unhelpfull. By july i had worked hard and cleared my overdraft . i set my overdraft to 0 and set about budgeting my money so i wouldnt end up in the "charges spiral " again. unfortunatley lloyds ban didnt inform me of an outstanding charge from the previous month and i get a statement saying i am 48 pound overdrawn due to an outstanding charge. even though i have not authorized an overdraft on that account(is this legal?). i reluctanly paid it to stop the charges increasing and decided to move my current account from lloyds alltogether, so i went in and tryed to close the account and was told there was a 30 pound charge because of the said mentioned 48 pound charge not being paid in time. As u can imagine i hit the roof, and eventually they waived the charge and allowed me to sighn the form to close the account and hand my cards in.my parting shot to a long line of customers was "you see that horse ? well it should have !!!!!! turpin riding it" imagine my horror today when i receive a statement from my closed account saying i am 7 pound overdrawn (for the standard account charge i think) and that i will acrew 30 pound a month untill its paid. i rang them and they informed my the account was still active. are they operating my account ileagally? can the do this?
MAJOR WARNING LLOYDS TSB ARE HIGHWAYMEN
THE SHOE BOX UNDER THE BED GETS MORE APPEALING BY THE DAY.
i am going to contact the ombudsman but would appreiciate some advice or at least to know i aint alone in feeling so angry at being robbed left right and centre:mad:

regards
anthony

tomcatvmp

just to update i rang them yesterday and finally got to speak to the branch manager who waived the 7.00 charge and closed the account. this was on 9th oct, so from 18th sept to 9 oct the were operating my account illeagally without my consent or knowledge. i complained to the ombudsman who couldnt help because i wasnt in dispute over loss of cash, so i tried the financial sevice authority who told me the only way to complain about this was through lloyds own complaints proceedure. so back to banking my head against the same damn brick wall. anyone have any idea's what i should do??

edsteruk

tomcatvmp wrote: »

anyone have any idea's what i should do??

To be honest if its been resolved and your not out of pocket there isn't much you can do.

All though you have been inconvienced for having to go and sort things out they seem to have resolved your complaints pretty swiftly and I would just leave it at that and be pleased you arnt out of pocket!

tom188

Your account was not closed because you had not settled all outstanding items on the account.

LTSB were able to take you overdrawn in the first place because the charge was already pending when you reduced the overdraft limit.

I think most of the blame here lies with you, and not with LTSB, and you should be grateful they have provided a satisfactory resolution that has ultimately been in your favour.

Move on.

waddy80

tomcatvmp Having read your post there's a few things:

You will have had a letter advising you of the charge. And the charge would have been noted on the bottom of your statement the month before it came out.

Also if there is an overdraft available I always have one set, even if it is just £50 so things like this don't happen. I still budget and only use the o/d in an emergency. An overdraft is something that you can be in control of not the bank.

As far as reclaiming your charges go, that will have gone to a department and a branch or staff member would not know.

I can imagine you were angry but please do not think that the bank as a whole was trying to steal your money. It's not the staff or the branches fault, it seems there was some communication problems that led to this situation.

plutolady

Hi,

I have been with Lloyds for over 30 years....
Is it legal for them to charge a yearly arrangement fee for an
overdraft facility? £100 each year!

hereford_2

Has this £100 charge only happened recently.

I've had a £1000 overdraft agreement with Lloyds for over 20 years and never been charged for it, although I very rarely go overdrawn.

plutolady wrote: »

Hi,

I have been with Lloyds for over 30 years....
Is it legal for them to charge a yearly arrangement fee for an
overdraft facility? £100 each year!

MABLE

I have an overdraft limit of 10k on my classic account and have never had a problem with Lloyds. I sometimes think some problems with banks are of our own making or may be I have just been lucky.

jonesMUFCforever

plutolady wrote: »

Hi,

I have been with Lloyds for over 30 years....
Is it legal for them to charge a yearly arrangement fee for an
overdraft facility? £100 each year!

The heading stated Lloyds BUSINESS acounts. It is normal practise to charge an arrangement fee of 1% for business overdrafts.

As this is a business expense it can be set aside by your accountant for tax purposes.

Smidda

Of course its legal to charge for a business overdraft - the bank is providing a service which it is charging you for the priv of having - if you do not agree with the charge then do not have an o/d.