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Lloyds Bank Hits Student With £800 Charges For 8p Overdraft!

It seems as though Lloyds Bank cannot keep out of the headlines at the moment, but for all of the wrong reason!

Today sees a claim that the bank has been chasing a student who went 8p overdrawn, charging her £300 in fees to date with a further £500 still to be cleared. The saga began when Laura Gibson made a purchase of around £60 forgetting that this would take her slightly into the red. This unauthorised overdraft sparked a fee of £65 which was left uncleared there by allowing Lloyds to add charges of £30 in October, £60 in December and £78 in January. Then the real fun began!

In May, Lloyds Bank decided that it was time to crack down on unauthorised overdrafts and instigated a flat £20 a day charge for those in the red without permission. This seems to have been what has bumped up Ms Gibson's debt to the alleged £800 level. As you might expect, Lloyds Bank has a different story to tell............

The bank claims that the charges are a result of unauthorised withdrawals going back to 2007 and refutes claims that the fee has hit the £800 mark for an 8p debt. While this has muddied the water slightly, the fact that the charges incurred could even reach £100 never mind £800 for an 8p debt is mindboggling.

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