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Do banks charge interest on agreed overdrafts?
Bogof_Babe
Posts: 10,803 Forumite
Just as the heading says really. A cheque was paid in on Wednesday but might not have cleared yet, so if money is withdrawn against it will interest be charged even though it is well within the agreed overdraft limit? The bank is Lloyds TSB
I haven't bogged off yet, and I ain't no babe
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http://www.lloydstsb.com/rates_and_charges/current_account_rates_curr_page.asp#personaloverdrafts
Scroll down a bitKavanne
Nuns! Nuns! Reverse!
'I do my job, do you do yours?'0 -
Cheers Kavanne. Blimey they don't make it simple do they?
I trust it is calculated daily until the cheque clears? In which case all that admin for a charge of about 20p :rolleyes:. I haven't bogged off yet, and I ain't no babe
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