Banks "Right" of Offset

[Curlyben]

Simple question really, where exactly is this "right" of offset in the Banks T&C's as I don't recall every agreeing to it ?!

More in relation to LTSB, but really affects all banks.

[Amethyst]

Re: Banks "Right" of Offset

Lloyds is here:- Condition 30 (page 18) of Personal banking Terms & Conditions - http://www.lloydstsb.com/media/lloyd...57453-1108.pdf

They can only use it to cover arrears or defaulted accounts.




( first direct / hsbc have this - ''If you fail to pay any amount payable under your agreement with us when due and or we make demand (in this event or if any of the other events mentioned in paragraph 14(a) above occur you will be in arrears and if we make demand:

1. we may cease to combine accounts for interest calculation purposes under paragraph 7 above;
2. you will continue to pay interest on your loan facility as provided in paragraph 7 until it is repaid in full;
3. we may use any money in any account you have with first direct and/or HSBC Bank plc to reduce or repay the amount owing under your agreement with us;'' )