A student has been charged £800 in fees by her bank after her current account went overdrawn by just eight pence.
A student from Gloucestershire has been charged more than £800 in bank fees and interest payments after going overdrawn by eight pence.
Laura Gibson, from Cheltenham, was charged daily fees of £20 and a monthly overdraft fee of £15 by Lloyds TSB after straying over her set limit by eight pence.
The 20-year-old student who is enrolled at Gloucestershire College was initially charged £20 a week for going overdrawn but when she way unable to pay this fee and her debts increased to over £100 the charges were increased to £20 a day.
Miss Gibson has paid £300 in charges to the bank so far, but still owes over £500. With her account £515.38 overdrawn as of July 1st, due to the charges this increased from £180.97 just two months earlier.
She told the Daily Mail: "I can't cope with it. The bank staff can see I'm not in a situation to pay yet they carry on telling me I have to or they will take me to court.
"They didn't contact me saying I had gone overdrawn. They just keep putting more and more charges on your account. The first charge was in the region of £80 but it goes up and up the more you go overdrawn."
Update on this story...
Since we posted this story, Lloyds TSB have responded.
A Lloyds TSB spokeswoman said: “The charges are not for a one-off unplanned overdraft position of 8p, they relate to an unplanned overdraft of varying amounts dating back to September 2007.
“In light of new information that Miss Gibson did not share with us when she contacted us to discuss her finances, we will be contacting her again to discuss her personal circumstances.”
Source: Daily Express