Overdraft fees

Poorexgirlfriend192

I have mental health problems and tend to overspend. I’ve also been long term unemployed even though I really want to work. Currently have an overdraft with hsbc limit of £750. Currently £550 of but will paid off at end of Month. However I am really confused about the new fees, is it 39% interest for arranged or unattached overdraft? If the latter I will really struggle to pay it back and get back into credit. I’ve already used the credit card and don’t want to take out anymore. Please no judgement just friendly advice. 

Poorexgirlfriend192

Thanks in advance 

poppy12345

The changes apply to all overdrafts. https://www.moneyadviceservice.org.uk/blog/what-the-changes-to-overdraft-fees-mean-for-you

[Deleted User]

Remember that 39% APR is only just above 3% per month, so e.g an o/d of £300 for one month would only attract £9 in charges.

Poorexgirlfriend192

Thank you. I meant to say unarranged but autospell said unattached! I see Martin has mentioned this in his latest email newsletter. Helpful as always!