Religious Discrimination at Lloyds Bank??

Discussion in 'Current Affairs' started by NotmeChief, Aug 22, 2009.

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  1. An overdraft? That'll be £200 at Lloyds TSB (but only £15 if you're a Muslim)

    Many Lloyds TSB customers are being hit with charges of up to £200 a month if they go into the red - while Muslims who use the bank are only being charged £15.
    The part-nationalised bank has been accused of religious discrimination over the disparity between overdraft charges on its standard current account and its Islamic account.
    The Islamic account was set up by the high street bank to attract Muslim customers by allowing them to keep faithful to their religion.

    Sharia law does not permit the payment of interest so the 'typical' Islamic account at Lloyds TSB has been set up without an overdraft facility.

    Read more:
  2. sgtpepperband

    sgtpepperband War Hero Moderator Book Reviewer

    Re: Religeous Discrimination at Lloyds Bank.

    It's in the Mail, so it must be true... :roll:
  3. Re: Religeous Discrimination at Lloyds Bank.

    I do not doubt it is true SPB, there again, whenever anything crops that seems to point to minorities being positively discriminated, you pop up disparaging the source, me thinks the PC Brigade have a true champion in you

    Funy old world when only minorities can be seen to be discriminated against, and when the majority get the rough end of the stick, its just them whinging when they highlight it!
  4. Re: Religeous Discrimination at Lloyds Bank.

    bloody hell!
    if they want to live under sharia law, then they should move to a country tat does.
    i'm sick of having to make adjustments for the poor victimized "minorities"

    All aboard the outrage bus. next stop rantsville :twisted:
  5. Re: Religeous Discrimination at Lloyds Bank.

    Classic account charges. "Control £10 When you do go into an Unplanned Overdraft, you will be charged the normal monthly Unplanned Overdraft fee of £15 (but not any daily Unplanned Overdraft fees). We will charge the monthly fee if you have an Unplanned Overdraft at any time during your monthly billing period, even if your next monthly billing period is only a few days away."
    Islamic account charges. "We ensure that all of our Islamic accounts comply with Shariah and we typically do not provide Planned Overdrafts to Islamic account holders. Where you do not have enough available funds to make a payment, we will not usually agree to provide an Unplanned Overdraft either and the returned item fee will apply.
    In some instances, where we do agree to cover that payment by giving you an Unplanned Overdraft you will incur a management fee for us providing and managing this (but you will not be charged interest). This monthly management fee will be £15 and will apply if you have or make use of an Unplanned Overdraft at any time during a monthly billing period."

    I’m no fan of the way banks charge for using your money to make money, however but I don’t see any difference between the above.
    If you abuse your account fail to notify the bank of when you need “extra†dosh then expect to get hammered (as per your contract with the bank!)

    Edited, to add that I object to the title of this thread for 2 reasons. Firstly anyone can get a sharia account and secondly, it appears that you have not bothered to check any of the info as to the charges before you declared that Lloyds are wrong.
  6. Re: Religeous Discrimination at Lloyds Bank.

    He didn't check the spelling either; it's "religious".
  7. Re: Religeous Discrimination at Lloyds Bank.

    In_my_day , amazing what you can find if you look a little bit further, I think you will find the statement you posted is for a Control account, which costs you £10 per month in charges even when you are in credit, the following is taken from the Lloyds TSB website for their current account

  8. Re: Religeous Discrimination at Lloyds Bank.

    Anyone can have this type of account, there is no Muslim-test. If it's that great then pile in. The mail have been very selective in the lack of detail, it's journalism at its worst.
  9. Re: Religeous Discrimination at Lloyds Bank.

    Admittedly the Islamic account is open to every one, but if I were to see a product called the 'Islamic Account' and all the information on it is aimed at Muslims, I would assume that it is only open to people who follow the teachings of the Prophet. They do not make it obvious (not that I can see anyway) that it is open to anyone - Oh it is also one of the very few accounts for those who are not students that does not attract any monthly bank charges
  10. Re: Religious Discrimination at Lloyds Bank.

    I do know that when I came to settle up my mortgage the LLoyds/Tsb misquoted me by an extra eight thousand. Have you ever tried talking to somebody on the phone who insist they are correct and you have your annual statements in your hand.

    It cost me a lot of money to hire a soloicitor to inform those prats the extra eight thousand was wrong!! Now if I was a famous footballer I could sue for stress and trauma being a Joe Bloggs you get newt just grief.
  11. Re: Religious Discrimination at Lloyds Bank.

    So if the above posts are correct and the Mail is wrong, then they are guilty of inciting religious tension but I don't see any charges being brought against them by Lloyds.
  12. Re: Religious Discrimination at Lloyds Bank.

    Acknowledged. I was looking at the Classic account as that's what I use to pay my bills. However my point, I believe stands. If you have a Planned overdraft you pay a set rate, on the control account £10, on the premier account £25. These fees, of course, often give other benefits, I have car breakdown recovery on one of my accounts, for example. As far as I can see, and as stated in the story, the £200 in fees (plus interest) only comes into it if you have an unplanned overdraft of more than than £100 for 10 days. We've all been (assumption) overdrawn and paid charges but the jist of this story appears to be that Islamic account don't attract these same charges. The story does point out that there will be reurned items costs but this apparently is not important! I may be missing the obvious but I can't find anything on the Lloyds website that says Islamic accounts aren't billed the daily rates for unplanned (unauthorised) overdrafts. The section on overdraft charges shown above does not specifically link to any type of account and they are not interest but fees. Am I missing something?

    I'm not defending the way in which banks deal with overdrafts or charges but I don't like the selective tone of the story.

    Edited to reply to NmC. No because they report fact but in such a way as to make it seem like Sam's being seen of by Saeed! For me the bottom line is the charges are heavy but they are part of the contract and, as shown, for you borrowing the bank's money without permission.
  13. Re: Religeous Discrimination at Lloyds Bank.

    The Mail is journalism at it's worst, it's toilet paper at best.
  14. Re: Religious Discrimination at Lloyds Bank.

    The one thing that I'd add to the comments above is that Lloyds aren't allowed to restrict how they offer their financial products on religious grounds. They're prevented from doing so by the very same equality legislation that the Mail suggests that they're not compliant with.

    Lloyds couldn't bring an action on that basis as incitement is a criminal, rather than civil, topic. In any case I wouldn't imagine that they see any commercial benefit in taking any other legal action.

    I think it's worth looking at the topic from a commercial perspective. A small segment of the marketplace has a demand for Sharia products. A small segment of the supply market exists to cater for that market, but doesn't have much coverage or market penetration. Lloyds and other banks see Sharia compliant products as a way to extend their market share, however small that extension might be. Clearly it brings them some revenue, otherwise they wouldn't bother with it. Whether they have any appetite to extend it's market penetration or not is probably the key point. If it's more profitable to sell a Sharia compliant product then I can see them pushing it harder than other products. the fact that nobody does market it aggressively suggests to me that it's not.

    The bank are there to make money, no more or less.
  15. Thanks karma, a sensible reply goes a long way.

    And there was I thinking I had found some scandle.
  16. Re: Religious Discrimination at Lloyds Bank.

    From Llyods TSB website:


  17. I have just opened a tsb account and did actually register as a muslim as is my right. I am in fact a bad proddy. 8O :)
  18. Re: Religeous Discrimination at Lloyds Bank.

    So the accusation that SPB is a champion of the beloved 'PC Brigade' is, in this case, completely false? He is in fact quite right to question the reliability of the reporting in the Daily Mail.

    Isn't he mikh?
  19. Re: Religeous Discrimination at Lloyds Bank.

    I disagree. The mail uses poor quality ink which just stains your arse black.
  20. Re: Religious Discrimination at Lloyds Bank.

    Ack this charge but we were discussing the daily fees rather than the management fee.


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