42 years with Lloyds and this is how they treat me!

Baffledbeyond

Just feel the need to spout off as cannot share this with my wife.

Had a 12 month fixed term ISA with Lloyds which matured on 13 April.

Made a genuine mistake in clicking the wrong button to transfer 2 days before it matured, Lloyds deducted £660 from my annual £2,537 interest which they are entitled to do (90 days interest). No warning - only told about this after transfer.

I rang and said I had made a genuine mistake and the money actually had not been transferred until date of maturity anyway. Asked them to at least see that I would no-one would transfer 2 days early and want to lose £660 so it's obviously a mistake so please can you waive this as a gesture of goodwill. Also explained that I do not now work as look after my wife who has been battling cancer. After 42 mins of holding told that "sorry it's not our fault and we will not help by refunding the charge."

Then told if you do not agree we can escalate it but you will have to wait for 8 weeks before you can escalate to Ombudsman.

Been with Lloyds since I was 15 (42 years) never be penalised and been a loyal customer but this is how they treat you when you're up against it. Ho hum.

Ayr_Rage

Goodwill is the only outcome you can hope for as it is you that has made the mistake.

Lloyds have acted correctly on your instructions and I cannot see the Ombudsman making a decision in your favour.

Beddie

It's a tough one, as "back in the day" a bank would reverse this without hassle, as it's clearly a genuine error. I do feel for you, as mistakes do happen, but I'm not sure how far you will get with it. Perhaps try the Telegraph/Times etc. as they have columnists who try to fix things like this.

https://www.telegraph.co.uk/money/katie-investigates/

kaMelo

I take it you didn't tick the box on the transfer form that would have prevented this happening.

It usually says something like;

wait for the full notice period to end or wait until the maturity date (whichever is relevant) before going ahead with this transfer

Not much help to you in this situation but maybe relevant for in future

Markdavid1962

I would email the CEO directly and put your case to him, his email is

Charlie.Nunn@lloydsbanking.com

Baffledbeyond

https://forums.moneysavingexpert.com/discussion/comment/81965836#Comment_81965836

Correct - I made a genuine mistake - really thought that as it was 2 days and the money actually left Lloyds on day of maturity they would show some goodwill but no chance…Totally get the 90 day penalty during the term but in a case like this when it's a genuine mistake with 2 days left and you ask very nicely for help….

SacredStephan

I'd suggest that you contact the Radio 4 Moneybox programme, as well as the CEO (as above).

Rich2808

I am afraid we live in a world today of computer says no and human common sense doesn't apply. They don't care if you have been a customer for 42 years or 42 minutes - the system says you can't.

Roll on total AI rollout!

x44

The impetus for standardised decisions by computer came from complaints about the "old boy network" where branch managers who way back then had a lot more power would give favourable terms to "favoured" customers, so if your face did not fit or you did not have the right handshake and the rest then you got stuffed with the standard offering.

[Deleted User]

https://forums.moneysavingexpert.com/discussion/6664461/42-years-with-lloyds-and-this-is-how-they-treat-me

No sympathy here I'm afraid. You made the mistake ( we all do), get on with your life and be more careful in future.

fuzzzzy

I don't really have any answers further to the ones already given, but you do have my sympathy. I'm sorry this has happened to you.