Banks and building societies charging customers for overdraft facilities is part of a growing trend, an expert has said. Mark Bower, managing director at price comparison website moneymaxim.co.uk, claims that "the constant shifting of goal posts" makes it hard for consumers to keep tabs on their financial position. He said: "It makes it all the more important to read every piece of mail that comes from your financial providers. "Overdrafts are however designed only to cover short-term cash flow issues, and if borrowers start to find they are using such facilities regularly or to an increasing degree, there are better ways to manage debt issues." His comments follow a report by lovemoney.co.uk, which revealed that more banks and building societies are charging for the use of authorised overdrafts. It reported that Norwich & Peterborough Building Society has now confirmed it is to start charging a monthly fee for customers who use an authorised overdraft.Samantha ClarkeSamantha is a former banking assistant and has over ten years experience in retail banking.
Belmont Thornton Limited is regulated by the Claims Management Regulator in respect of regulated claims management activities; our registration is recorded on the website www.gov.uk/moj/cmr number 18273
Belmont Thornton Limited is incorporated in England and Wales, Company number 6621233, whose head office at Unit B16, Kestrel Court, Harbour Road, Portishead, Bristol, BS20 7AN and registered office at Harwood House, 43 Harwood Road, London, SW6 4QP.
Belmont Thornton Limited is registered with the Information Commissioners Office. Registration number Z1728023.
Please note that calls may be monitored for the purposes of staff training.
* Belmont Thornton operates on a "No Win No Fee" basis. This means that there are no upfront costs to pay. Our fee only becomes payable on a successful outcome of a claim. A cancellation fee is payable if you decide that having instructed Belmont Thornton to act on your behalf, and after 14 days of signing your Letter of Authority, you do not wish to continue pursuing your claim with us. The cancellation fee is the reasonable costs incurred for the work undertaken. Please see our terms of engagement.
By using our web-site, you agree that we can place the types of cookies described in our privacy policy on your device.Hide