Santander latest bank to set 40% overdraft rate
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Millions of people with Santander’s popular current account face a cut in the interest paid amid changes for savers and borrowers.
The bank has announced that, from 5 May, the interest paid on balances up to £20,000 in its 123 account will be cut from 1.5% to 1%.
The move has prompted one commentator to describe the account as a “dead duck” for savers.
Santander…
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