Lloyds Card lets me take out more than I have ?

NoOneReally

I have noticed that my Lloyds Visa Debit card (The cash card and Cheque Card), will let me buy things when I dont have enough money ?, it happened quite by chance as I do not have an overdraft, but I had £2.92 left in the account and was still able to top up my phone online for £5 using the card ?, its not a thing that I would do regulary, but I just wondered why I can do it or was it just a fault that day ?, I don't really want to mention it to the bank.

Thanks.

P.s When I tried the same thing with a Visa Electron card from a different bank that did not work !, so my Lloyds card could be faulty.

PROLIANT

Your Visa Debit card has a floor limit of around £30, any transactions under this amount will be authorised regardless of how you have in your account.

skyrider007

Is this floor limit thing the same for HSBC Maestro card?

taxi73

You will probably get a bank charge now!!

dzug

The floor limit varies by shop more than by card

marvin

This is a debit card linked to a current account?
All current accounts can go overdrawn whether you have an overdraft agreed or not.

The difference is that agreed overdrafts are treated as your money and only attract agreed overddraft interest.

Unagreed overdrafts attract a higher interest rate and often attract a £15 fee each time you go overdrawn and often on each transaction after that so long as you remain overdrawn.

The same happens if you have an agreed overdraft and go over the agreed limit.

Your £2 odd overdraft is likely to cost you just over £15 unless your bank has a small buffer between 0 and overdraft. Lloyds removed this buffer last year.

jonesMUFCforever

Unless you pay in to bring the account back into credit on the day or before the debit is actually debited to your account you will be charged a fee by LTSB.
Is there no way you can get an approved (small) overdraft on your account to prevent this?

hustle90

Lloyds charge you £15.

The only bank that never charged me for going overdrawn was Barclays. I've been overdrawn within £10 with barclays many times and they never charge me. Thats one thing they're good for.

Lloyds however, charge you no matter what.

NoOneReally

taxi73 wrote: »

You will probably get a bank charge now!!

I have never been charged as it does not show on my account for 3 -4 days, and I pay in money to cover it the next day, and so far no charge or any mention of one.

Thomas_Crown

NoOneReally wrote: »

I have never been charged as it does not show on my account for 3 -4 days, and I pay in money to cover it the next day, and so far no charge or any mention of one.

Get some money (ie.at least £2.08) paid into your LTSB account before 3.30pm on Tuesday 25th & you should avoid the £15.00 charge. I am assuming that you have only gone overdrawn over the last 48 hours. If you went overdrawn on Thursday 20th or earlier you may already be too late.

If you avoid paying the fee this time, count yourself very lucky & don't go overdrawn again unless you have an authorised overdraft in place.