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Overdraft charges
Sahafa
Posts: 1 Newbie
I have an overdraft limit of £2500,my bank still applies charges every time my account is overdrawn even if it within this overdraft limit.is this correct?or can I get this money back??
0
Comments
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Which bank? Which account?
What are the charges for?0 -
Giving an overdraft is not a requirement and charges will normaly apply if it is indeed used,0
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If you are using other people's money (that's what an overdraft is) you usually pay for the privilege. That's called 'interest'. If your charges are interest (or a flat daily fee for being overdrawn) then that is all correct and is part and parcel of borrowing money.
As the saying goes: "There ain't a thing like a free lunch."0
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