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Natwest overdraft changes
crazy_guy
Posts: 823 Forumite
Had an email through from natwest saying that from July they're be changing the overdraft fees on all accounts.
Currently they charge interest on all overdraft balances over £100. From July they charge if you go £10 or more into your overdraft and not only charge interest at the standard rate but also an additional £6 per month ontop. This could work out as an extremely high %apr if you calculate the interest and monthly fee together!
On the plus side for unarranged overdrafts the max they will charge from july is £90 instead of the current £186!!
Think I will be closing down this account now. Hope this is useful to someone
Currently they charge interest on all overdraft balances over £100. From July they charge if you go £10 or more into your overdraft and not only charge interest at the standard rate but also an additional £6 per month ontop. This could work out as an extremely high %apr if you calculate the interest and monthly fee together!
On the plus side for unarranged overdrafts the max they will charge from july is £90 instead of the current £186!!
Think I will be closing down this account now. Hope this is useful to someone
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