MoneySavingExpert News

Overdrafts

Barclays removes overdrafts if they've not been used by some customers in over a year - here are your options and what we know

Barclays customers have voiced concerns after being given just one month's notice that their "safety net" overdrafts will be removed during the cost of living crisis. The bank has admitted that it's cancelling overdrafts for some users who haven't dipped into them in for at least a year.

22 August 2022

Two in five borrow from credit cards, overdrafts or family and friends to pay off buy now, pay later purchases

More than half of 18 to 34-year-olds are borrowing money to help pay off their buy now, pay later debt (BNPL), according to research from charity Citizens Advice. If you're struggling to pay what you owe, we've things to try to see if they help.

8 June 2022

Martin's debt costs masterclass: Can't afford to clear your debt? You can't afford not to move it to up to 35mths at 0% saving £1,000s

So as it's January, we're in a cost of living crunch, and New Year debt bills are being received by millions, it's time for my annual interest-cutting masterclass.

18 January 2022

36,000 NatWest and RBS customers owed overdraft refunds

Some 36,000 RBS, NatWest and Ulster Bank customers will be refunded a total of £2.2 million

3 June 2020

130,000 Metro Bank customers to get overdraft refunds

A total of 130,000 Metro Bank customers will receive average payments of about £86, after the bank failed to warn them properly about unarranged overdraft charges

20 April 2020

70,000 Nationwide customers owed refunds after overdraft alerts error

Nationwide customers are to be refunded £900,000 after a review ordered by the competition watchdog found the building society failed to properly warn them they were about to be charged for using an unarranged overdraft

6 February 2020

Martin: 'FCA subtly slaps banks' wrists – and provides some relief for overdraft prisoners'

The financial regulator has written to major banks asking them how they decided on their overdraft prices, after several providers announced rates to 40% - and it's warned that banks must act to help consumers hurt by the changes

28 January 2020

Lloyds, Halifax and Bank of Scotland to charge up to 49.9% interest on overdrafts from April

Lloyds, Halifax and Bank of Scotland will scrap daily fees for arranged overdrafts from April and instead charge an interest rate based on customers' credit history

22 January 2020

Martin Lewis says Santander 123 is now a dead duck current account as it cuts interest and cashback

Santander will be slashing current account interest to 1% on its popular 123 account this spring, and introducing a single overdraft interest rate of 39.9%

21 January 2020

Barclays announces overdraft shake-up with interest rates of 35%

Barclays will be replacing its daily overdraft fees with a single interest rate of 35% from March - we've full info on whether you'll pay more or less after the changes

8 January 2020