All customers will have a pounds 10 buffer which means should they go overdrawn
by pounds 9.
The account pays you pounds 5 a month if you pay in pounds 1,000 a month, so if you're overdrawn
on only three days, you'd still be pounds 2 a month in credit after deducting the pounds 3 in charges.
One in 20 over 50s goes overdrawn
without authorisation at least four times a year.
Some banks allow you to become up to pounds 500 overdrawn
for a small fee.
Our table on the right shows how much it will cost you to go pounds 500 overdrawn
for five days a month, and for 30 days a month.
Now the banks, due to their greed, are overdrawn
and short of money, hard-working customers are having to bail them out free of charge via the Treasury.
By the time of his wife's death in July 1998 it was pounds 56,000 overdrawn
with a pounds 60,000 limit.
Since all transactions are always authorized online against account balances and there are no paper checks in the float that can cause an account to be overdrawn
, these new cards are safer for the issuer to issue to just about anyone, even those that are considered "un-bankable", as long as they have valid personal identification and a verifiable address.
Single mum Sarah Smith, from Wigan, has lost all her savings and is now heavily overdrawn
to NatWest after losing pounds 4,500 following a similar phishing email.
I had a letter from Barclays stating I would be charged pounds 25 for each day I was overdrawn
(by pounds 18) to a maximum of three days each month.
Four out of 10 people said they would be embarrassed telling someone their current account was overdrawn
, while 28% of people said they would never tell their parents and 10% would not tell their partner.
account must return to a positive balance every 30 days.