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Guest comment: Time for radical reform on overdrafts

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Time for radical reform on overdrafts...
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'Time for radical reform on overdrafts'

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'Time for radical reform on overdrafts'

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https://forums.moneysavingexpert.com/showthread.php?p=75200846
(Also pet hate, unauthorised overdrafts, in France this is treated as stealing from the bank and I can see why, it is basically like seeing some money lying around that isn't yours and taking it to spend, or be it with the intention that it will be repaid at some point. However the banks are at least in part complicit as they allow it to happen).
However charges for not making a payment should only reflect what it costs the bank (including a sensible profit - say an automated letter costs a fiver then 50p profit might be reasonable).
I agree, and that might not be a bad thing, it may encourage people to live within there means, instead of within their overdraft.
On the issue of charges, banks have been charging ridiculous amounts of money for the slightest error for years, it used to be £35 per item, per day, so if you went 10p over your limit for two days, they hit you with a £70 fine.
Many people faced large debts due to bank charges, even now some banks charge way more than others, there should be a level playing field between all of them, with much reduced fee’s which won’t impact the ability of the account holder to afford them, at the moment affordability is not taken into account at all.