Overdraft penalty charges fall as banks wait for ruling

[Legal Beagles]

Unauthorised overdraft charges are falling as banks await the outcome of a High Court test case on the issue.


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[alecmac18]

Re: Overdraft penalty charges fall as banks wait for ruling

I read this article today By Nicky Burridge in the Indy and its absolute rubbish. The interest rate on overdrafts both authorised and unauthorised may have fallen by a fraction since the test case started - but it does not include the 'penatly charges' of £25-£45 that are lumped in ON TOP OF the interest charged. Some banks (Lloyds TSB) have effectively increased the amount they charge most customers who bounce DD's etc..

This is nothing more than a badly reasearched article that came directly from the PR bumph being sent out to try and bamboozle journalists into printing pieces that show bank charges in a better light.

The Indy fell for it hook, line and sinker.

The cold hard fact is that: "UK bank customers who have been charged such fees have paid an average of £742 each, over the past six years."

from: Penalty fees survey shocks BBA

says it all really..........