Greedy, grasping grabby banks

I use First Direct (HSBC) Authourised Overdraft rates nearly 40% but you do get the first £250 free which is nice for marginal overspenders.
Personal loans much less 10 - 20% depending on amount

PinkCakes

Are all banks increasing the interest rate for overdrafts? I'm lucky to not need to use one, but I don't think my bank (First Direct)is the same.

I think Martin Lewis was warning us recently that all banks will be increasing their overdraft charges.

Can’t remember why, but it’s to compensate for some other changes they have been forced to do.

DH and I moan every time a bank advert comes on the telly. The way they tell us they're there for "us", for "the journey". I really can't abide banks.

Are all banks increasing the interest rate for overdrafts? I'm lucky to not need to use one, but I don't think my bank (First Direct)is the same.

Sorry paddyann, I'm not sure what the correlation is between the royal family and their property portfolio and bank overdraft % rates?

interest on savings is something of the order of 0.01%. That extra money from overdraughts is to cushion the banks from defaulters and there will be many

FHS paddyanne what has it got to do with the RF?
Same old same old.

At least we know poor auld Lizzie will be OK ,she's being compensated by the taxpayer for the drop in price of her property portfolio .....oh to be so lucky...No overdrafts or foodbanks for her ,wonder if they all claimed furlough payments? Not that it would surprise me ,but didn't her financial adviser warn her that investments can go DOWN as well as up ...our certainly did !!

All banks are going to look after their own interests first, they are all the same, if you are in some kind of difficulty they will make it worse. They don’t care if you change banks, they all operate to the same rules.

The answer is don’t let them get into that position, don’t buy that new car, house, kitchen, sofa or whatever, very few need to borrow, a great many borrow to buy stuff they can do without.

Like you Chewbacca we are lucky enough to no longer need to use an overdraft facility but feel sad and disgusted that, at a time of national crisis, banks will do that to the most vulnerable people when we are all supposed to be pulling together.

Good grief that's appallingsurely it's profiteering!!!

That's just plain disgusting, cashing in on people who are desperate at this time and need help; does that mean that more people will end up going to these high street money lenders?

Our bank sent us a letter about a month ago with the same Interest Rate, so I assume that they will all follow suit.
Shameful.