Lloyds TSB recently (within the last few months) made an extremely significant change to their T&C which leads me to suspect they may have liquidity or even solvency issues which may be about to rear their ugly heads.
The change enables them, they claim, - inter alia -to decline any payment instruction the customer makes, effectively freezing the account. They can do this, they claim, basically if they feel like it. They need give no reason and they will not be liable for any consequential damage suffered as a result. THIS IS IN ADDITION to the usual clauses against fraud, misrepresentaton, money laundering, terrorism and so forth which remain included in the revised T&C. The only possible reason I can think of for such a sweeping change is if they are anticipating a run on the bank following the publication of exceptionally bad results or such like. Perhaps they're heavily exposed to Greece?
Here's the clause, tell me what you think:
Is it even enforceable???