40% Overdrafts

The FCA have fucked up, in order to treat all customers fairly they have instructed that they don’t discriminate between agreed and non-agreed overdrafts. FFS!  Guess what they’ve chosen to do 😫. Here are some notes and links.

  1. https://moneyfacts.co.uk/news/banking/overdraft-interest-rates-set-to-rise-tips-for-paying-off-your-overdrafts/, they say that many banks announced that they would be increasing the interest rates on their arranged overdrafts. Barclays, for example, will be increasing its rate to 35.00%, while first direct and HSBC will increase their rates to 39.0%.
  2. https://www.independent.co.uk/news/business/news/bank-overdraft-interest-rates-fca-explain-a9306176.html
  3. There’s a lot more about it on google.

I struggled to find a picture to decorate the article, I made this one, from the FT, it has HSBC & Barclays, it’s missing Lloyds and Nat West.

I also tried to make one from my “Steadman Logoes” picture but felt this didn’t work; I couldn’t work out how to make it 200px high. (Dec 2020, looks like I did.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.