HBOS changing most bank accounts. (BBC website)

rdty21

Hi,

Just wondering what peoples views are of the new proposals for HBOS bank account holders.

If you pay in £1000/month they will credit you with £5. I take it this means they will be no longer paying credit interest?

For every day you use your arranged overdraft upto £2500 you will be charged £1 per day.

For every day you use a higher arranged overdraft you will be charged £2 per day.

If you use an unarranged overdraft you will be charged £5 per day.

Also disappearing will be the existing overdraft fee of £28 per month, and the maximum three charges a day of £35 each for paying or bouncing cheques, or making other payments, while in the red without permission. (from bbc website)

These changes will start to take place from feb 09 if you have a halifax moneyback account.

The high interest account will be closed to new customers.

What are peoples opinions?

Lokolo

Clear charges which aren't excessive. Sounds a goodun to me.

YorkshireBoy

rdty21 wrote: »

What are peoples opinions?

http://forums.moneysavingexpert.com/showthread.html?t=1351763

Lokolo wrote:

Clear charges which aren't excessive.

Stand by for the "I was only £1.50 over my agreed limit, but by the time they'd written to me to tell me (and I'd got back from my 2-week summer holiday) I'd incurred £125 of charges at £5 per day. What's the APR on that!?" posts, which will surely follow.