Overdraft fees 'significantly reduced' by Lloyds TSB
Lloyds TSB has announced it is to implement a new overdraft structure for its existing and new personal current account customers.
The change will come into effect from December 2nd and will see almost 70 per cent of its members who use an unplanned overdraft facility pay less than half of what they currently do.
Charges and fees for returned items will also be significantly lowered, the bank confirmed.
A new, free £10 buffer zone is to be introduced for both planned and unplanned overdrafts as well.
Personal current account director at the organisation Mike Regnier commented: "We have made a whole range of improvements to our charging structure, including a significant reduction in fees."
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