Lloyds Overdraft change to charges

sourcrates · 20 October 2017 at 10:46AM

StopIt wrote: »

I thought Lloyds were going to contact those who were going to lose out as a result of these changes, to see if alternatives were available.

Maybe worth going into your local branch and talking to them.

Actually they are being rather sneaky, you have to tell them you are in financial difficulty first, they say they will then implement the new charges in stages.

But the bottom line from them, and the Halifax (whose charges will be the same) is, and i quote :

"keeping the account open and not paying the new charges, is not an option".

StopIt · 20 October 2017 at 10:55AM

sourcrates wrote: »

Actually they are being rather sneaky, you have to tell them you are in financial difficulty first, they say they will then implement the new charges in stages.

But the bottom line from them, and the Halifax (whose charges will be the same) is, and i quote :

"keeping the account open and not paying the new charges, is not an option".

That is a bit low, considering it is a change of T&Cs that if CCA regulated, could be refused. Of course they are not regulated, thus, they can do this, boo.

Considering the comparatively small debt the OP has, I'd suggest trying to find ways to make a few extra £, be it surveys (Look at the 2nd income board here on MSE), or selling items to make a debt in the overdraft.

beanielou · 21 October 2017 at 6:35PM

Another option would be to open a new basic bank accout for everyday use & pay the amount left on the OD back to the bank based on what is left in your SOA.