Overdrafts

HSBC and sister bank First Direct are giving current account customers a £500 interest-free overdraft buffer for a year, if they request it. The banks, which are part of the same group, say they hope to support those most in need of help with the rising cost of living.

4 April 2023

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

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

3 June 2020

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

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

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

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