Banks - why are they retards ?

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very strange :o

My Lloyds student account just turned into a graduate account. They sent me a letter saying each year they will reduce the overdraft limit (£1500, £1000, £500) eventually back to 0.

Are you in your 4th year (after doing a placement)? As i had to notify them I was still in university.
 
How can you not notice in 2 months that the overdraft facility on your current account has been withdrawn?
 
bet they had your old/student address...

its an automated system they cant easily make a mistake unless youve done something you shouldnt have , eg repeated a year at uni , not paid so much money in every term (as said in the TandC's )
 
Vixen said:
How can you not notice in 2 months that the overdraft facility on your current account has been withdrawn?
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Because i never use it. i pay £20 a month into it and then once a year take £240 out.

As for the whole issue i have simply ignored them, i have all the proof i need that im at uni so i can just claim any charges back :D
 
I finished my degree in 2006 after 4 years. I still have a massive overdraft facility on my current account.

Natwest always have their fingers on the pulse :D
 
Knubje said:
I finished my degree in 2006 after 4 years. I still have a massive overdraft facility on my current account.

Natwest always have their fingers on the pulse :D
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My Natwest student account automatically turned into a graduate account, which was another year's interest free overdraft. They also had some good home / car buyer's loans at the time too. Natwest seem pretty switched on in general.
 
twoblacklines said:
I have just over £11k in the bank which is great for my circumstances. I love cars and photography but if i post in either for either 11k's worth of photo kit or £11k worth of car, 90% of the thread content will people telling me that im lying because im a 24 year old student because when they were students they didnt have any money.
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http://forums.overclockers.co.uk/showpost.php?p=17673072&postcount=37

Can't you just use your 11k you have in the bank?

i'm confused why you owe the bank 1600 when you have that money lying about.

can i smell something?
 
twoblacklines said:
I havent recieved any post from them at all!
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Given them the correct address?

As people have already said most student accounts turn into graduate accounts after uni, even if you don't erm.. graduate. The overdraft stays but they start charging you interest.
 
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twoblacklines said:
Because i never use it. i pay £20 a month into it and then once a year take £240 out.

As for the whole issue i have simply ignored them, i have all the proof i need that im at uni so i can just claim any charges back :D
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What are the terms of your student account/student overdraft? The majority require that you have your loan or equivalent sum paid into the account, even if it's then removed straight away. If that's literally all you've been using your account for then you're not entitled to the overdraft which you have evidently rinsed.

You can't say you never use it when you've obviously maxed out the overdraft.
 
Jez said:
Indeed, what an odd situation to be in :/
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Not really, its not anyones business but the 11k is inheritance, and as the student accounts are interest free, and the student loan is making positive interest, its pointless paying them off.
 
When you setup an OD facility the bank send you the t&c's confirming if you go overdraft then you will be charged, so how can you clarify that it's their mistake

do you check your account on a regular basis? is it always in credit.
i find it hard to beleive that the bank have not sent you letters, as they love charging people for letters they send. this all sounds like bad account handling than bank error, your first step is to setup agreement to lower the OD, and in that time investigate whether it was fair.
 
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