The Financial Conduct Authority (FCA) has written to the UK’s biggest banks for an explanation about how they decided new overdraft rates.
Customers with Lloyds Banking Group will see their overdraft rates more than double in some cases
TSB is the latest bank to announce overdraft fee changes.
Barclays to shake up overdrafts from March 2020.
New overdraft charges kick in from April 2020.
From today, banks and building societies will no longer be able to include a customer's overdraft in their ‘available balance’ or ‘available funds’
Customers with the challenger bank could see their overdraft fees more than double in April 2020