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Bank charges: Santander customers face £5-a-day charges

Santander current account holders could incur £5-a-day bank charges, following a system overhaul.

Should customers go over their overdraft limit, they will be charged £5 for every day that they remain overdrawn. Over a monthly period, this fee can total a maximum of £50, according to thisismoney.co.uk.

Furthermore, customers will be charged £5 every time they conduct a card transaction which takes them over their overdraft limit.

Bounced cheques and transactions will result in a £10 fine in each instance.

In other changes within the bank, customers who switch to Santander will get a fee-free arranged overdraft, which after the initial 12 months will charge 50p for every day that a customer goes beyond their agreed limit.

This card carries a monthly maximum of £5.

An additional account set to be launched later this year will see customers have to pay in £1,000 every month.

Samantha Clarke
Samantha is a former banking assistant and has over ten years experience in retail banking.ADNFCR-2776-ID-800000637-ADNFCR



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