MoneyExpert.com: Overdraft fees increase
www.moneynews.co.uk > Debt > MoneyExpert.com: Overdraft fees increase
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Money News |
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MoneyExpert.com: Overdraft fees increase
Tue 25th Nov 2008
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The research shows that banks have increased the charges for going into the red on current accounts by an average of 20 per cent.
Despite a report by the Office of Fair Trading into the legality of overdraft fees, banks that charged £25 for exceeding agreed overdraft limits in November 2007 are now charging £30.
Sean Gardner, director of MoneyExpert.com, advised: "A £30 charge isn't the Christmas present most of us are after and if you want to avoid these costs then watch your balance."
The increased overdraft costs come at a time when household budgets are tight anyway, with research by Family Investments revealing that parents would be spending "significantly less" on toys for their children this Christmas.
Click here for more banking news
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Related News : Banking |
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