10 years on from the credit crunch, Lloyds is again forcing customers into deeper debt

I’ve been a customer of Lloyds Bank for over 30 years, and as in any long-term relationship there have been ups and downs. Nevertheless I have always stuck with the black horse; partly because I can’t be bothered to go through the rigmarole of opening another account, but mostly because I’m usually in debt to Lloyds and can’t afford to buy myself out.

However, I’ve now been given a major incentive to finally get a divorce – because since 2 November, my bank charges have shot up by 500 per cent without warning. Up to the end of October, as with most banks, Lloyds charged a monthly fee for being overdrawn – typically a £6 standing fee and around the same in interest. £12 was manageable, and more to the point, I knew exactly how much would be taken in charges and on what date.

However, come the beginning of November, I, like millions of other Lloyds customers, was in for a nasty shock.