HSBC to bring in single overdraft rate of 39.9%

HSBC to bring in single overdraft rate of 39.9%

HSBC plan to introduce a single overdraft rate of 39.9% for UK customers from March 2020, quadrupling the rate it charges some customers. At the same time, the bank is removing a £5 daily fee for going into an unarranged overdraft. The new annual rate comes in response to tough new rules from regulators designed to protect consumers.

Tom A
Tom A
Top in Business
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