Interesting article on the BBC website talking about how Bank are charging “sneaky fees”. It’s an interesting look into what’s happening to the bank overdraft market, where legislation has clamped down on unauthorised overdrafts. In return, the rate of authorised overdrafts has increased, with an average of around 19%. That’s an average, so while there are some that are lower, there are also others that are higher.
It can be quite awful to be hit by unexpected charges, so make sure you always know what’s going in and what’ going out. It’s the best way to be in control. So before you spend money on that xbox 360, just make sure you have enough cash in the bank.