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Banks obviously still have way to much spare money if they can afford to send out as many unnecessary letters. For example, I received one earlier today informing me that my overdraft had been set up and reminding me of all the usual charges should I be stupid enough to go over my planned overdraft limit.
This is all very well, but I had rung them up a week or so before to tell them I wanted to downgrade my account from a select to a classic and I know my overdraft is still the same because I spoke to them in order to do this.
They confirmed my identity with the usual security questions. By the way, I did this to save myself around £8 a month. No car so don't need the road cover and no expensive mobile phone so don't need the insurance for that. There's no point in giving the bank money for something I won't use is there?
More to the point, they know that I know my overdraft is still the same because they refused to extend it. This, I thought was nice since I had been with them for over twenty years and in all that time had only applied for an overdraft extension once or twice. Well thanks for the help when I could really use it. I know banks aren't a charity, but at the end of the day I'd always been a good customer and they've made plenty of money out of me in interest and charges over the years. Perhaps this is the focus of another gripe though, however, I will certainly be taking my business elsewhere as soon as I possibly can!
So back to my original point about the letters. Why do they have to send out so many of them? When I downgraded my account I received a letter informing me I had downgraded. Fair enough I suppose. On the other hand though, I did request this to happen. But why send out a second letter about the overdraft limit which wasn't going to change? There's also all the bank loan and credit card offers that they send me on a monthly basis, plus the letters that inform me how much they are charging me. I elected some time ago to receive electronic statements. I manage my account online and I have an email address (which they never use - fair enough as there's a lot of phishing going on). But the point is that I'm quite capable of logging on and checking my account, or worse case scenario I could pick up a phone if I'm that curious to know how much they're going to sting me for this month!
By: Fed up with LLoyds TSB
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They are full of characters which also describes some of these warring bankers.
My conclusion is that like a lot of big organisations, different departments deal with different topics. And none of them communicate with each other!
Makes a mockery of having the electronic statements and online access "to save paper" then have to suffer this barrage of un needed additional information.
Maybe if they cut it out, they could reduce the ridiculous charges they levy!
NickyB