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Lloyds Bank was a fresh brand identity unleashed in September 2013. TSB has been split and although they are still partly owned by the larger Group they will soon be sold off through an IPO. The Lloyds Banking Group is one of the Big Four and they of course control Halifax. Lord Blackwell is the Chairman here (and of the Group). This principal brand is found at www.lloydsbank.com and their origins go back to 1765. There are around 1300 branches and around 12 million customers across England and Wales. They operate in Scotland through the Bank of Scotland division that has around 3 million customers and 300 branches.

As we move to the Lloyds Bank overdraft charges headed at www.lloydsbank.com, we will begin with the Classic Account that is one of their most popular banking choices and it has no monthly fee. This includes £25 interest-free planned overdrafts. If you surpass this then a £6 monthly usage fee applies and you also pay 19.94% EAR. This is a similar rate that most banks enforce that equates to £0.05 daily per £100. The usage fee adds £0.20 daily and so you pay £0.25 on average. Their Silver package has the same fees, but the first £50 is free, however these accounts cost £9.95 each month.

The Platinum Account costs £17 monthly, but overdrafts are free up to £300. The same £6 usage fee is then enforced and you pay interest at 17.28%. Their Student offering includes free overdrafts and the Club package hands you 0% up to £100. This again has that £6 charge and 19.94% interest. These accounts cost £5 per month, but this is waived if you pay £1500 in. This choice grants 4% interest on balances between £4000 and £5000. For the unplanned Lloyds overdraft charges, there is always a £10 buffer, but up to £25 this is £5 per day and this then rises to £10 daily (they charge 8 fees max per month). This is joined by £6 usage and the same 19.94%.