Lloyds TSB Current Accounts highlights overdraft features

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Lloyds TSB Current Accounts highlights overdraft features

Fri 30th May 2008

Following Barclay's announcement of changes to its overdraft system, Lloyds TSB has highlighted the strengths of its own overdraft facility.

The bank offers two main features in relation to overdrafts - a limit alert text message service and a grace period.

For £2.50 a month, it will text customers to warn them that they are getting close to their overdraft limit and again when they go over it.

The Lloyds TSB grace period applies to all customers, allowing them a window of opportunity to rectify the situation if their go over their limit or slip into the red providing they contact the bank by 3.30pm that afternoon.

Catherine McGrath, director of current accounts at Lloyds TSB, said: "We want to help our customers avoid accidentally slipping into the red and have given them the tools to do just that."

Earlier today Barclays launched an overdraft service called Personal Reserve and a new range or current accounts.

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