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    Hey guys, hopefully someone here can help me..

    My Lloyds TSB Student Account recently got changed without my say-so to a Graduate Account despite me not actually graduating for another 2 years. I did call them as soon as I received the notice a few months ago and told them that I was on a 4 year course and not the conventional 3 year course but they assured me that it is basically just the same as a Student Account but with a chance at a bigger overdraft in the first year which is what I am here to hopefully get some advice on!

    I'm looking to extend my overdraft and in the terms on the Graduate Account it does state that in the first year of having the account you can apply for an overdraft of upto £2000. I am aware that "upto" does not necessarily include the advertised amount but whenever I attempt to extend it, it tells me the usual spiel about the £10 buffer and Grace Period to avoid charges, then at the bottom of the screen it shows me that the interest is at 1.53%, there is a £6 monthly usage fee and that the fee and interest free amount is £150. That is the part that I do not understand.. My overdraft is already way beyond £150 and it's still fee and interest free and why is it trying to charge me fees and interest when it clearly states in the terms of the Graduate Account that in the first year of obtaining the account the fee and interest free amount is £0 - £2000 (with £10 buffer) and £2010+ is what incurs fees and interest.

    Does anyone have any insight on this? Particularly on the part about only £150 apparently being the fee and interest free amount, even though I have surpassed that and have been for years without incurring any fees or interest.

    Thanks for any info or help!
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    (Original post by hanikins)
    Hey guys, hopefully someone here can help me..

    My Lloyds TSB Student Account recently got changed without my say-so to a Graduate Account despite me not actually graduating for another 2 years. I did call them as soon as I received the notice a few months ago and told them that I was on a 4 year course and not the conventional 3 year course but they assured me that it is basically just the same as a Student Account but with a chance at a bigger overdraft in the first year which is what I am here to hopefully get some advice on!

    I'm looking to extend my overdraft and in the terms on the Graduate Account it does state that in the first year of having the account you can apply for an overdraft of upto £2000. I am aware that "upto" does not necessarily include the advertised amount but whenever I attempt to extend it, it tells me the usual spiel about the £10 buffer and Grace Period to avoid charges, then at the bottom of the screen it shows me that the interest is at 1.53%, there is a £6 monthly usage fee and that the fee and interest free amount is £150. That is the part that I do not understand.. My overdraft is already way beyond £150 and it's still fee and interest free and why is it trying to charge me fees and interest when it clearly states in the terms of the Graduate Account that in the first year of obtaining the account the fee and interest free amount is £0 - £2000 (with £10 buffer) and £2010+ is what incurs fees and interest.

    Does anyone have any insight on this? Particularly on the part about only £150 apparently being the fee and interest free amount, even though I have surpassed that and have been for years without incurring any fees or interest.

    Thanks for any info or help!


    Hey,

    I've signed up to TSR especially to reply to this haha!

    My Lloyds TSB account changed a year prematurely too, and I went into branch, phoned the 0843 number and basically got nowhere with it.

    They told me in branch the same as you, however after a year your account will change to a regular account with full fees, when you should be enjoying your year of having a graduate account (when you're actually a graduate).

    Therefore, I wrote a letter to Lloyds TSB with proof I am still a student and details of the problems encountered with trying to change in back in branch. I then got a very nice letter back stating my account has been changed back to a student account, an apology and £25.00 in my account from them to apologise.

    I'd recommend getting it sorted. The whole point of a graduate account is for when you actually graduate

    Good luck.
 
 
 
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