Ltsb Have Debited Minimum Payment From My Account Without My Permission!

Bismarck

I'm afraid loyalty disappeared a long time ago...they only view your history as a benchmark/safety gauge for you as a future profit generator for them.

Martin's book:

3 Important Lessons : page 83..."LOYALTY IS NEVER REWARDED" With friends, relatives, husbands, wives? YES. With companies, business and banks. NO.

carriemorrison

Thanks so much SparciaM, you have really done your homework! We just didn't realise that they could help themselves. We had missed the January payments, but that is why we contacted them - in order to sort it out! When we sent the financial statements off we wrote in the covering letters that them debiting money from our current account left us seriously short for the rest of the month. My Plat card is still over the limit and so I am worried that they are going to take a payment as soon as my husband's salary gets paid in at the end of this week. Watch this space. Thanks for sharing your knowledge. xx

carriemorrison

Spot on Bismarck x

King_Of_Fools

Just so you know Lloyds are not unique in doing this. If you have a credit card in debt and another account in credit with the same bank it is mentioned in the T&Cs that the bank can do this.

Your best bet is to have a credit card with a different bank from your cash.

spaceman5

King_Of_Fools wrote: »

Just so you know Lloyds are not unique in doing this. If you have a credit card in debt and another account in credit with the same bank it is mentioned in the T&Cs that the bank can do this.

Your best bet is to have a credit card with a different bank from your cash.

also applies to credit cards that are asociated with banks as partners, so say for example Tesco`s is partnered with rbs(i dont know if they are, but they will be with someone) and you had a rbs account, and got into arrears with a tesco credit card, i do believe they would be able to take the money out of your rbs account as well, as i had a friend who went thru a iva, and they was given a list of banks and cards that were owned by which bank, and was advised to look thru it to find a bank that had no ties with any of there cards and get a basic account with that bank, speciffically to stop this happening until the iva went thru, i am sure there would probably be a topic on this site somewhere that list all credit card providers and what ties they have with what banks, HTH dave.

Superheavy

Same thing goes with overdraft/savings etc, ie, if you're going over your overdraft limit, and its significant enough to be dealt with by a human being rather than the computer software, they will often move money over from the savings to cover the debt, without informing you....or at least not for a few days until a letter arrives. My advice when the wages come in, take out all you need for bills so there's no money there for them to take.

spaceman5

[quote=Superheavy;8963617My_advice_when_the_wages_come_in,_take_out_all_you_need_for_bills_so_there's_no_money_there_for_them_to_take.[/quote]

would the banks not know when the wages are going in, so they would take it out either as it is going in the account or just after it hits the account, Dave.

SparciaM

in situations like these the accounts are run by a queue system. So the person who will do the transfer won't know when wages are due into the account until they have the account on their system.

If you take the money out straight after money in, then they can't take any and you can agree a better payment plan for yourself.

YorkshireBoy

Here's the relevant LTSB credit card condition...

14.7 You authorise us to make payments due to us under this agreement from current or savings accounts you have with us or Lloyds TSB Scotland plc (including joint accounts) if you don’t pay them on time yourself.

Unless we believe the funds from the current or savings account will be moved before payments are made, we will give you at least 7 days advance warning before we do this.

The second paragraph is the key. Despite the Banking Code saying...

We will deal quickly and sympathetically with things that go wrong and consider all cases of financial difficulty sympathetically and positively.

...they obviously had some 'concerns' to do what they have done.

carriemorrison

Thanks everyone for your advice/expertise! x