Nine High Street banks and building societies have pledged support for overdraft customers after Money Mail demanded action. We called on banks last week to halt overdraft charges for households struggling in the wake of the coronavirus crisis. With the cost of borrowing at a record low, we asked them to postpone planned fee hikes … Read more
Will your bank freeze overdraft fees until summer? What the big six are doing for customers and why they’ve NOT axed planned 40% rates High street banks have set out overdraft measures during coronavirus Includes increased fee-free buffers and writing off some charges Many of the big names have new overdraft rates of nearly 40% … Read more
ALEX BRUMMER: Banks have shown a total lack of basic judgement by hiking overdraft fees while the economy goes into meltdown By Alex Brummer for the Daily Mail Published: 21:50 GMT, 26 March 2020 | Updated: 21:50 GMT, 26 March 2020 When the medical crisis became a financial crisis, High Street banks were quick out … Read more
Money Mail today calls on the big banks to put off overdraft charge hikes and waive fees as the nation battles deadly coronavirus. High-Street banks are poised to increase interest rates to as much as 50 per cent, which means many struggling households will have to pay more to borrow. This is despite the fact … Read more
Lenders cash in on coronavirus: HSBC, First Direct and M&S Bank increase overdraft charges up to 39.9% amid crisis while Halifax and Lloyds are set to do same next month Rates on 3-year loans have gone up since December, with some of cheapest offers withdrawn in recent days Overdraft rates will quadruple in some cases … Read more
Customers receiving their bank statements in the months ahead may end up baffled as they try to unpick whether they are a winner or loser from new overdraft rules. Some may be pleasantly surprised to see the cost of how they typically go into the red has become cheaper, but others will end up paying considerably … Read more