Lloyds TSB to Introduce New Interest and Fee-Free Planned Overdrafts to Help Customers Avoid Charges

ID: 1125015
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(businesspress24) - LONDON, UNITED KINGDOM -- (Marketwire) -- 06/18/12 -- Lloyds TSB is set to introduce or increase interest and fee-free amounts on planned overdrafts across its range of (i). Therefore, customers could avoid incurring any charges should they dip into their planned overdraft at any point in the month.

With effect from 2 October 2012, subject to application and approval, customers can benefit from:

- The introduction of an interest and fee-free planned overdraft amount of GBP 25 on the Classic account, which has no monthly account fee

- The introduction of an interest and fee-free planned overdraft amount of GBP 50 on the Silver account

- An increased interest and fee-free planned overdraft amount of GBP 150 on the Gold account (currently GBP 100)

- An increased interest and fee-free planned overdraft amount of GBP 300 on the Platinum account (currently GBP 250)

Lloyds TSB and Bank of Scotland will be the only major high street banks to offer an interest and fee-free amount across their full range of mainstream current accounts(ii).

With effect from 2 October 2012, Lloyds TSB will also be increasing overdraft interest rates and the monthly overdraft usage fee(iii) across its range of free and paid-for current accounts for customers who exceed their interest and fee-free facility.

Jatin Patel, director of current accounts for Lloyds TSB, said:

"Lloyds TSB already offers a variety of benefits for current account customers, such as a competitive credit interest rate of up to 3% AER through Vantage and a number of added value services on our . With the introduction of interest and fee-free overdraft facilities across our whole range of mainstream current accounts, all customers can now also enjoy peace of mind that should they dip into their planned overdraft in the month they can avoid incurring charges. This is another of a series of free tools we have introduced on our current accounts to help customers manage their finances and avoid incurring fees."

Additional free tools provided by Lloyds TSB to enable customers to manage their finances and avoid incurring fees include:

- Text alerts to advise customers when they are getting close to their overdraft limit

- - an online service which provides guidance to customers on how they are spending their money

- A free app which provides customers with the ability to manage their money on the go.

Customers are not charged for setting up a Planned Overdraft and will only pay overdraft fees and interest if they use an overdraft. All overdrafts are subject to application and approval.

Contacts:


Lloyds TSB customer services
LTSB BANK



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published by: MARKETWIRE
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Date: 06/18/2012 - 04:39
Language: English
News-ID 1125015
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Firma: Lloyds TSB Bank
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Stadt: LONDON, UNITED KINGDOM
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