New bank authorised overdraft tariffs – what will it cost you?

Following recent intervention from the Financial Conduct Authority to stamp out excessive unauthorised bank charges, the banks have responded by hiking their overdraft rates for customers with agreed or authorised overdrafts – many lenders will now be charging between 35% EAR and 49.9%EAR – the table from the link below will help you understand how it will impact your finances.

Overdraft Comparisons MASTER Jan 2020