Borrowers relying on £500 overdraft buffers will be stung when they vanish as Bank of England finds rates for going into the red are at a record high Overdraft rates have more than doubled since March to 22.52% Banks were required to lower customers’ borrowing costs for 3 months Regulators gave them the green light … Read more
Bank overdraft costs double in a year: Average rate has risen from 12.34% to almost 27% By Amelia Murray For The Daily Mail Published: 22:00 BST, 22 September 2020 | Updated: 22:52 BST, 22 September 2020 Borrowers are being charged more than double the rate for their overdrafts compared with this time last year. The … Read more
Natwest customers slam bank’s poor branches and overdraft services as they rate it one of the worst for service By Lucy White For The Daily Mail Published: 21:50 BST, 17 August 2020 | Updated: 21:50 BST, 17 August 2020 Natwest’s customers have rated it as one of the worst banks, calling out its poor branches … Read more
Borrowers were granted a reprieve from overdraft rates of nearly 40 per cent at the start of April as banks were ordered by the regulator to keep costs low as the coronavirus struck. But last week the Financial Conduct Authority reopened the door to sky high overdraft charges when it said it was not extending … Read more