LloydsTSB and BR

gambit_2

Hi, as some of you may know I have been turned down for a co-op cashminder account and have written to them for an explanation.

Yesterday, because today is pay day (by cheque) I was starting to panic about what to do with my cheque. I recieved a copy of a letter the OR had sent to my bank (LloydsTSB), requesting that they allow me access to my salary and daughters benefits (I don't owe them any money).

I rang my local branch and asked whether there was any way I could just keep a simple account with them. The lady looked into it and called me back 10 minutes later. She said that she had printed off some paperwork and I can keep the account I have but can't have a cheque book, debit card or direct debits coming from the account!! It just didn't seem quite right after all I have read on here and I kept asking her if she was absolutely sure. In the end she invited me to go see her.

I got straight in the car and went down. By that time she had cancelled the card I had already cut up and sent to OR and ordered me a cash card. I still didn't believe her so she went to her office and she showed me the bank's own directive that she had printed off and it DOES say that as long as I already have an account with them a bankrupt can keep a credit only account.

Now don't get me wrong, I am not leaping up and down in glee as from what I have read here this goes against the grain, but I saw this with my own eyes. I tried to get her to give me the printoff so I could post it here but she wouldn't let me.

I wait with baited breath for the card to arrive (doesn't happen quickly here in the country!!) and then try it out. I will definitely keep you all posted and would love to hear from anyone else who has recently gone BR and had a LloydsTSB account.

Gambit

fermi

That's good news.

It's certainly not the usual experience, but it's interesting to hear.

I would like to think it means a change in policy by Lloyds TSB but I won't hold my breath just yet.:rolleyes:

tigerfeet2006

Keeping my fingers crossed for you Gambit. It will certainly be useful if this is their new policy and will help some people.

wherediditallgo

gambit wrote: »

I rang my local branch and asked whether there was any way I could just keep a simple account with them. The lady looked into it and called me back 10 minutes later. She said that she had printed off some paperwork and I can keep the account I have but can't have a cheque book, debit card or direct debits coming from the account!! It just didn't seem quite right after all I have read on here and I kept asking her if she was absolutely sure. In the end she invited me to go see her.

I got straight in the car and went down. By that time she had cancelled the card I had already cut up and sent to OR and ordered me a cash card. I still didn't believe her so she went to her office and she showed me the bank's own directive that she had printed off and it DOES say that as long as I already have an account with them a bankrupt can keep a credit only account.

The bit I've highlighted concerns me. I had an account with LTSB when I went BR (still do) & they told me that I could keep it, but it would be converted to a cashcard only account. I'd therefore lose my debit card, cheque book & overdraft facility that came with it. What do they mean by a "credit only" account?

Toon_Dave

wherediditallgo wrote: »

The bit I've highlighted concerns me. I had an account with LTSB when I went BR (still do) & they told me that I could keep it, but it would be converted to a cashcard only account. I'd therefore lose my debit card, cheque book & overdraft facility that came with it. What do they mean by a "credit only" account?

HI WDIAL,

i think there definition of a credit account would be a basic account as you can only be in credit with it, so no OD or debit cards...Probably just their way of describing it.

Ig Gambit is waiting for a Cash card only then this should be the case. I had my current account with lloyds downgraded to a basic account so no account fees or OD and just the cash dispenser card.

Dave.

gambit_2

Hi, they literally mean no opportunity to go overdrawn. For example if I had a cheque book I could write a cheque and go over but if I could only get access to cash there would be no chance of going over, if the money isn't there I can't have it.

Can you just confirm for me that prior to BR you had a Lloyds acc and still have access to it? When did you go BR?

Gambit

Toon_Dave

gambit wrote: »

Hi, as some of you may know I have been turned down for a co-op cashminder account and have written to them for an explanation.

Yesterday, because today is pay day (by cheque) I was starting to panic about what to do with my cheque. I recieved a copy of a letter the OR had sent to my bank (LloydsTSB), requesting that they allow me access to my salary and daughters benefits (I don't owe them any money).

I rang my local branch and asked whether there was any way I could just keep a simple account with them. The lady looked into it and called me back 10 minutes later. She said that she had printed off some paperwork and I can keep the account I have but can't have a cheque book, debit card or direct debits coming from the account!! It just didn't seem quite right after all I have read on here and I kept asking her if she was absolutely sure. In the end she invited me to go see her.

I got straight in the car and went down. By that time she had cancelled the card I had already cut up and sent to OR and ordered me a cash card. I still didn't believe her so she went to her office and she showed me the bank's own directive that she had printed off and it DOES say that as long as I already have an account with them a bankrupt can keep a credit only account.

Now don't get me wrong, I am not leaping up and down in glee as from what I have read here this goes against the grain, but I saw this with my own eyes. I tried to get her to give me the printoff so I could post it here but she wouldn't let me.

I wait with baited breath for the card to arrive (doesn't happen quickly here in the country!!) and then try it out. I will definitely keep you all posted and would love to hear from anyone else who has recently gone BR and had a LloydsTSB account.

Gambit

Sounds like excellent news. Also as there is no risk to the bank i'm glad it looks like more are being BR friendly etc. All BR's could do with a break every now and again.

Let us know when you eventually get the card down in the country.

Dave.

gambit_2

Hi Dave, howyadoin??

Only 15 more sleeps till I get back home, how excited am I, can't wait to wander down Northumbrland Street and breath it all in!!

fermi

As Dave says, I presume that they are downgrading to the equivalent of their basic Cash Account.

It would be nice if there is an extra option, if only for those already held an account in credit, but we shall have to see.

Toon_Dave

gambit wrote: »

Hi Dave, howyadoin??

Only 15 more sleeps till I get back home, how excited am I, can't wait to wander down Northumbrland Street and breath it all in!!

Hi m8, Doing good...15 more sleeps....love it!! The Town wont know what has hit it....just dont be tempted by the bright lights!!! We'll be here to guide you away from the shops m8.

You'll have to get yourself to a game one weekend too....im sure that has got to be part of the Emergency fund or surplus!!

im glad the bank sounds like they are helping which is fantastic and as Fermi has said, its good for people to have another option.

gambit_2

Dave, I do miss the night life, down here if a girl is going out the best she can do is put a clean pair of jeans on!!! When I moved here the town didn't know what had hit it.

When I lived there I used to be a dancer in a local nightclub (clothes on you smutty boys!!), I may become an embarrasment to my daughter though!!!

I'll be de-mob happy!!!