Daily overdraft fee Santander decreased?

LemonTree_3

Hi everyone,

I have a Premier current account with Santander (coming from former Alliance&Leicester). Usually, I have to pay £10 per month for using my overdraft in full. For some reason, for January 2012, the daily arranged overdraft fee shown is £1.

Has the overdraft fee decreased? Or is this just a mistake?

Thank you!

Sailmakers

You pay 50p a day for a maximum of 20 days. Perhaps you were only in the overdraft for two days?

LemonTree_3

Sailmakers wrote: »

You pay 50p a day for a maximum of 20 days. Perhaps you were only in the overdraft for two days?

Thanks for your answer. I was using the overdraft for 31 days. So it should be £10.

Sailmakers

In that case I would just keep quiet. They 100% have not reduced the rates, infact they are increasing it to £1 a day in April. Most likely a mistake.

LemonTree_3

Sailmakers wrote: »

infact they are increasing it to £1 a day in April.

That's terrible news. Where did you hear that? Could you provide a source or link?

Sailmakers

New T and C's came out a few weeks ago with your statement. To be honest other banks like Halifax have been doing this for a long time. There is a link on this forum all about it if you go back a little bit.

Sailmakers

Sorry I'm not good with posting links. I'm sure someone else will...

LemonTree_3

Sailmakers wrote: »

Sorry I'm not good with posting links. I'm sure someone else will...

Here is the link
http://www.moneysavingexpert.com/news/banking/2012/01/santander-to-double-overdraft-charges

Indeed, terrible news:

The new fees from 16 March are:

The daily fee when within an arranged overdraft rises from 50p to £1.

Capped at 10 fees per month on the following accounts: Preferred, Reward, Travel Reward, Family Reward, Premier 50,
Premier 21 and Choice.

Capped at 20 fees per month on the following accounts: Everyday, Preferred In Credit/Overdraft Rate, Premier Direct,
Premier Current and Current Account.

The cap on the Preferred Overdraft Rate Account has risen from 15 to 20 fees per month. All the other caps above are the same as now.