Unauthorised Overdraft Charges, LloydsTSB

tornado3984

I recieved a letter from lloyds on the 4th dec, stating that they were charging me 20 pounds for every day that my account was overdrawn, up to a maximum of 10 charges a month, I recieved my statement yesterday and have 224 pounds in charges due to come out on 3rd Jan.

Has anyone else heard anything of these extortionate charges?

This is surely abuse of the FSA`s waiver????!!!!!!???!!?

jonesMUFCforever

They have revamped their charges.
You should have been advise of the new scheme in September/October.

They now offer the opportunity for you to pay in on the day an unplanned overdraft occurs to avoid paying the fees.

A text service is also available which sends a message to you if you are within £50 of your limit or over your limit.

To get charged £20 per day you must have been quite a bit over your planned overdraft (or perhaps you had no overdraft facility?)?

Sorry but I know of no ''waiver'' from FSA.

mrmajika

tornado3984 wrote: »

This is surely abuse of the FSA`s waiver????!!!!!!???!!?

Excuse my ignorance, but what is the FSA's wiaver?

tornado3984

The waiver that puts a hold on reclaiming bank charges until the test case is over.

exel1966

No such waiver exists. Banks are free to penalty charge customers for exceeding overdrafts/going overdrawn etc.

You've obviously got confused with the OFT's decision to temporarily halt all cases of bank charges being reclaimed by consumers pending further discussions/cases on the legal principles of reclaiming.

caver

I have been stung by this also - the old charges they adopted would be more cheaper than this. I changed my loan details on the DD from lloyds to Barclays but unfortunately didnt realise you had to sign the form they send to confirm this so they took it off the lloyds balance thus making me go over my overdraft. When I realised this put some money straight back in to Lloyds from Barclays but as it took 3 days they chaged me for every day I was over drawn. Ended up with £130 in charges for a few days which is excessive to say the least.
If the court case for charges rules in favour of us will I be able to dispute these charges as I have done before they changed their overdraft terms?

johnwilman

I'v also been stung £25.00 for going over my overdraft limit for 1 Day at HSBC!...I transferred extra money into my current account to bring this under my limit(but sadly didn't do this until the following day,as I didn't check my balance at the close of play)..:rolleyes: Is this extortionate "admin fee" reclaimable from HSBC?..:mad:

RayWolfe

So you have an overdraft facility AND then you go over this ... what do you want banks to do?
Get your spending under control then you need never pay another charge again. Now wouldn't that be good?

jonesMUFCforever

RayWolfe wrote: »

So you have an overdraft facility AND then you go over this ... what do you want banks to do?
Get your spending under control then you need never pay another charge again. Now wouldn't that be good?

Bravo that man.
It's so easy isn't it :beer:

johnwilman

I will tell you what I think they should do..£25.00 is obviously a "disproportionate" sum.Admin fees are no more than a fiver.I made 1 mistake( of which I have now got a £25.00 refund),as this was made at the end of banking hours.I will of course be checking my balances at 12.00 am and not 5.00pm in future,as I have learned that this error can cost people dearly.Surely people are going to make mistakes arn't they?:rolleyes: I just don't think they should be penalised as harshly as they are.:p

RayWolfe

Glad to hear it.
So banks aren't as bad as you thought.
Good to hear you praise them then ... can't hear you, you'll have to speak louder ...
Meanwhile, you've got the message unlike mtgibbo and family.