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get ready for the 365% overdraft (that’s authorised)

Published: 24/10/2009

The Guardian (Money)

Many Halifax and Bank of Scotland current account customers face a huge hike in overdraft charges, which will particularly punish those who regularly go into the red by a small amount, it emerged this week.

 
Andrew Hagger at Moneynet.co.uk points out the new system means “everyone is treated the same, whether you are borrowing £50 or £2,500”.

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