Tag: overdraft charges

Santander puts £50 monthly penalty on unauthorised overdrafts

Santander puts £50 monthly penalty on unauthorised overdrafts

Santander has announced plans to charge customers up to £50 per month for using their unauthorised overdraft. The £5 per day charge, capped at a maximum of £50 in any one month, will apply to new current accounts opened from December. Customers who use their authorised overdraft will be charged 50p per day, up to [...]

July 1, 2010 | 1 Comment More
RBS cuts overdraft charges ahead of Supreme Court decision

RBS cuts overdraft charges ahead of Supreme Court decision

Royal Bank of Scotland (RBS), which is 70% owned by the Government, has slashed its overdraft charges - ahead of the decision by the Supreme Court over whether or not the Office of Fair Trading (OFT) can regulate these charges. The changes, which come into effect on October 1, will also affect NatWest customers and [...]

September 7, 2009 | 0 Comments More
Taxpayer-owned banks pressured to stop overdraft fees

Taxpayer-owned banks pressured to stop overdraft fees

Banks are under pressure to back down from their multi-million pound court appeal in favour of overdraft charges. The banks are currently appealing a High Court ruling from last April that allowed the Office of Fair Trading (OFT) to determine the fairness of bank charges. Some banks were known to charge customers up to £39 [...]

January 22, 2009 | 1 Comment More
RBS pledge to help SMEs

RBS pledge to help SMEs

The Royal Bank of Scotland (RBS) has pledged to small and medium sized enterprises (SMEs) who are suffering as a result of the economic slump. Rising borrowing costs has had an affect on many firms and the new measures will see RBS freeze overdraft charges for its business customers for at least a year, commencing [...]

November 24, 2008 | 0 Comments More
Further delay in bank charges case

Further delay in bank charges case

Consumers who are looking to reclaim unfair overdraft charges will now have to wait a further six months after the Financial Services Authority (FSA) announced today that it is extending the waiver that allows banks not to pay out on claims. The FSA explained that it was extending the suspension of its normal rules, which [...]

July 21, 2008 | 0 Comments More
Barclays to reduce overdraft charges to single digits

Barclays to reduce overdraft charges to single digits

Last month saw the eight banks, who include Abbey, Barclays, Clydesdale, Halifax Bank of Scotland, HSBC, Lloyds TSB, RBS NatWest and Nationwide Building Society, lose the first stage of the legal battle against the unfair charges case. However, it has now emerged that Barclays is to cut its overdraft charges. According to the bank, it [...]

May 30, 2008 | 0 Comments More