Issue between RCI Bank and Lloyds

Bowers85

I've held my savings with RCI Bank for about 6 years, and current account with Lloyds for about 20 years.  Regularly transferring between the two accounts.
At the beginning of January, I realised that any withdrawals I made from my RCI account weren't making it to Lloyds - they were deposited straight back into RCI.

As expected, RCI is saying it's not an error on their end, as the money is leaving their accounts fine, the issue seems to be Lloyds not accepting the payment.  Of course, Lloyds say there is no error on their end, and haven't acknowledged there is any issue at all.

Typically, RCI have said this is only an issue with a few customers and they're working with Lloyds to figure out the issue.

Of course, the issue is that I have no access to my savings and have reached a point where I do actually need money from them to pay bills for the month.

If I have to extend my overdraft to ensure I actually make it through the month, do we think there is any chance of getting the charges refunded by Lloyds?

In the meantime, I'm trying to change the linked account on RCI to my Revolut account I have, however, their security protocols mean I have a 3 - 5 working day wait before I can even set that up!

eskbanker

Bowers85 said:

If I have to extend my overdraft to ensure I actually make it through the month, do we think there is any chance of getting the charges refunded by Lloyds?

Only if they accept (or you can prove) that the issue is at their end....

PRAISETHESUN

I suspect you won't have much success getting Lloyds to waive OD fees.

I agree that changing your nominated account is the way to go however, I would recommend against Revolut. They are not a bank, and their customer service is very poor. If you have issues, such as if they block your account when you withdraw from your RCI account and them try to immediately forward the money onto your Lloyds account, it is highly likely you will struggle to get them resolved in a timely fashion.

Babyalbie100

I have a similar problem rci stopped paying my interest to my linked Lloyds account this month and blamed Lloyds  and hsbc which bounced back into my rci account