Possible new rules on overdraft
protection and fees are one of the top items on the CFPB regulatory agenda this year.
HSBC and its internet and telephone banking brand First Direct are to simplify their unauthorised overdraft
charges from November, which they say will result in costs being reduced for the majority of customers.
com Use savings (if you''ve any) HAVING overdrafts
and savings isn''t sensible.
The bank is also removing its authorised overdraft
fee cap of GBP20 a month on these accounts.
Select and Select Silver customers with arranged overdrafts
will be affected by the NatWest/RBS changes.
Consumers Union noted that there are more affordable options for consumers when it comes to covering overdrafts
triggered by debit cards or checks.
This style of daily overdraft
fee tariff is becoming more common but it is expensive on small overdrafts
DIPPING into your overdraft
seems like an easy answer to the short-term cashflow problems we all have from time to time.
The majority of new/renewed loan or overdraft
applicants were successful.
could be covered by a different mechanism (such as a linked savings account, for example), make sure customers know they have alternatives.
As of July 1, federal regulations require that when you open a new bank account, you will have to choose to be covered by overdraft
services for one-time, point-of-purchase debit card or ATM transactions.
Business Secretary Vince Cable has accused high street banks of "ripping off" their customers as it was disclosed some are charging up to 167 per cent interest on unauthorised overdrafts