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Barclays cut overdraft fees


Michael Browne
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Barclays bank announced today that it will not charge unpaid transaction fees – the £8 levy when a customer does not have the funds in his or her account to pay for a purchase but the transaction is guaranteed by Barclays – more than once per day. Currently, UK banks can charge the fees up to five times a day. They claim this will help customers save around £7 million this year.

 

Barclays has also introduced new text alerts to help customers avoid being caught out by charges. The texts will warn them they can actively avoid a fee if they can pay cleared funds in. The bank says this will help customers save a further £7 million

 

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/10546158/Barclays-cuts-overdraft-fees-as-banks-vie-for-customers.html.

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