HSBC set to bring in a single overdraft rate of 40%



HSBC is set to bring in a single overdraft rate of 39.9 per cent on customers from March 2020.
The announcement follows a similar move from Nationwide Building Society - prompting finance experts to say that paying around 40 per cent interest for going into the red could become "the new normal".
The Financial Conduct Authority (FCA) has previously unveiled plans to clamp down on complex overdraft charging structures across the industry generally, with new rules requiring providers to show costs with a simple annual rate.
HSBC UK, which currently charges rates of 9.9 per cent to... read more

 
5 December 2019 in Regional East, Views: 39
Share:
 




News Widget for Webmasters


Realtime News

 

«
»
Mo Tu We Th Fr Sa Su
    1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31