The credit union's overdraft
agreement, which was included in the complaint, read, "For current fees, visit our website or ask us.
Andy Mielczarek, head of retail products at HSBC UK, said: "We have spent time listening to our customers on how we can improve our overdraft
emergency, access the overdraft
you've paid off again.
I got PS1,560 in unfair bank charges back" IF you have an overdraft
the "I got PS1,560 in unfair bank charges back" IF you have an overdraft
the nightmare scenario is exceeding your limits and getting stung with bank charges - these transaction fees can be PS6 per day or up to PS25 per transaction.
Because current law does not address the size or frequency of overdraft
fees, banks have a strong incentive to push customers to opt in, and then to continue to barrage them with high fees.
Our table on the left shows just how much overdraft
charges can vary from bank to bank.
Qualitatively, early signs are of improving success rates for overdraft
and loan applications made in Q3 2011.
The new agreement means that AA Credit Union will charge 1% overdraft
providing the member either corrects the overdraft
before 22:00 the same day or has a small overdraft
which did not take the end-of-day account balance into the negative by more than USD10.
What should you do (or not do) when advertising overdraft
programs to your customers?
Around 26 per cent of current accounts have increased the interest they charge customers who have an authorised overdraft
since March 2009, with some raising their rates by more than eight per cent, according to Moneyfacts.
As a standard service, many banks will cover such an overdraft
until you make a deposit to cover the difference, but there's a fee for that, which could add $20 to $35 to that cup of coffee.
Bank customers complained about the Halifax, claiming it was charging an effective annual rate of interest of 3,650 per cent on an overdraft
of just Au10.