Lloyds Bank brings in single overdraft rate in radical shake-up - The Guardian


(Ben) #1

Just heard this whilst listening to the radio this morning. Tickled me that is is ‘radical’ though :joy:


Overdraft position
#2

I am not good at maths but even I can tell you this is £365 a year for a constant £700 overdraft. That is almost criminal for a mainstream bank to charge so much. To be fair they’ve been ripping millions of people off for generations but this more transparent version is like taking a microscope to a public toilet seat - you had strong suspicions it was disgusting but now you can be sure of it!


#3

That is a rip off. I pay about a third of that amount for nearly three times as much.


(Alex Sherwood) #4

The clarity looks good but the fees still don’t, to me.

Your situation isn’t comparable to standard high street overdraft lending in my opinion though.