Hi all,

Nearly ready to send of my first letter asking for charges back, still doing lots of reading yet, just need to double check the interest rate if anyone can help me, the link below shows the interest rates for their account, we are with the royalities current account, which going by their website is

Debtor Interest Rates:
Royalties
+ £5,000 - 1.26 - 16.25

£1,000 - £4,999 - 1.38 - 17.85

Below £1,000 - 1.41 - 18.25


18.25% EAR typical


Rates from 17.85% EAR to 18.25% EAR


Our overdrafticon was mostly always between £500 - £700 our agreed overdraft limit was £600, (it was the charges that kept putting us over it), can we ask or say we are going to ask for contractual interest rate, we are using Mindzai's spreadsheet so would I put in the 18.25 in the monthly interest part of the notes page? the reason I ask is that it says EAR and the spreadsheet says APR, this is the only thing holding me back now I understand everything else, if someone could clear this part up for me I am on my way.
Many thanks in advance!

RBS: Current Accounts - Rates & charges

Winky

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