FCA - Daily overdraft charges will be banned

Monzo’s current overdraft is clearly easier to understand than Starling’s.

For Starling’s overdrafts you need to figure out your account balance at the end of each day then use that overdraft calculator to figure out the charge each day, then add up the charges.

For Monzo’s overdraft you do: (number of days your balance ended below -£20) * (0.5).

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