A few months ago the financial regulator announced that fixed daily and monthly overdraft fees will be replaced with a single interest rate. Currently Monzo charges 50p per day with a max charge of £15.50 a month. Is there plans for Monzo to follow suit and when? NBS announced their rate this week at 39% APR
This change doesn’t come into effect until next summer. I’m sure Monzo will announce what their new charges are when they are ready (and before that mandated date).
Nationwide announced their changes back in July. It was already discussed here, along with exactly the same question posed to Monzo.
Please use the linked topic