HSBC to bring in single overdraft rate of 40%
Image copyright Getty Images Image caption The bank said it would cut fees on unarranged overdrafts
HSBC is to bring in a single overdraft rate of 39.9% for UK customers from March 2020, as much as quadrupling the rate it charges some customers.
However, the bank is removing a £5 daily fee for going into an unarranged overdraft and introducing an interest-free £25 buffer on some accounts.
It…
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