Lloyds and Halifax customers warned to check statements after bank stop sending low balance text alerts
The bank's text service has failed this month because of a technical glitch, MoneySavingExpert has revealed.
Halifax and Lloyds bank customers could unintentionally end up in the red after the bank stopped sending customers text messages warning them their balance are low.
Lloyds Banking Group - which also owns the Halifax and Bank of Scotland brands - launched a major change to its overdraft charges earlier this month.
But has found customers who had signed-up to its alert messaging service had failed to be notified they were about to go overdrawn following a " technical glitch."
Before the changes, customers had to opt-in to receive text alerts, but now everyone who's given the bank their mobile number should receive a message if they're close to going overdrawn.
Most current account customers were not sent any text alerts for around two weeks after the changes - even if they had explicitly said they wanted to receive them.
A spokesman for the bank confirmed to The Sun Online that the problem had occurred and the service had finally begun to work for some customers - but some will still have to wait before they start receiving the message warnings.
He said: "The new text service started last week for some customers and we will be rolling this out to all customers over the coming weeks."
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The overdraft changes - brought in at the beginning of the month - sees customers charged 1p for every £7 they are overdrawn.
The bank said 90 per cent of its customers would be better-off, or at least in the same financial position, as they would be under the old system, while it would no longer be charging customers for those who go beyond their arranged overdraft.
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But those with large overdrafts are likely to see their charges increase.
A customer with a £2,000 overdraft for more than 12 days a month will be charged £34.29 - an increase of £16.82 a month or £201.84 a year according to money experts.
Comparison site uSwitch.com found Brits were stung with unarranged fees totalling £300MILLION in 2016.
MSE added that customers who have gone overdrawn because they failed to receive a text should contact their bank and see if they will refund the charges.
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