Proposed changes to overdraft changes

yorkielovit

I was wondering if because of many being affected financially whether the banks will hold of in implementing the increased charges. Mine is due to go up to 34.9%. I cant afford to decrease overdrafts so the extra is going to have a bigger impact now.

Thrugelmir

Contact your bank and discuss the options available to you. Converting the overdraft to a personal loan for example. Yo need to break the cycle. 

yorkielovit

Personal loan not an option for me

mab3000

Barclays have announced they are removing overdraft charges between the 27th March and the 30th April

williamstewart

Would be nice if Lloyds would follow suit rather than things like "pay a cheque in and get the cash same day?" and "mortgage holidays" that don't affect me.
Overdraft charges are my biggest outgoing at present.  Have some funds available in the bank, although no idea what my pay situation is seeing as I was laid off a week ago.  Might get paid at the end of this month, or might have to wait and see what work does about the Government 80% scheme.
Was reducing my overdraft but need to see what's what before I throw more money at it.

Minimal outgoings at present as at my parents house for the foreseeable future, so at least what is in the bank isn't going down too much as I've no real rent, petrol, food etc. to pay like I would have been doing whilst working away.