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New overdraft alerts as CMA banking rules come into force 2nd Feb 2018


stu007
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New overdraft alerts as CMA banking rules come into force

 

Banks will be required to warn people before they slip into overdraft as a result of new rules coming into force today.

 

In a rule change required by the Competition and Markets Authority (CMA) as part of its Retail Banking Investigation, banks must now set up an alert system which will help their customers avoid unnecessary charges.

 

During its investigation, the CMA found that banks receive around £1.2 billion a year from unarranged overdraft charges. This new overdraft measure, combined with the CMA’s recent order to require banks to publicly announce their maximum monthly charges, could create significant savings for many bank customers.

 

READ MORE HERE: https://www.gov.uk/government/news/new-overdraft-alerts-as-cma-banking-rules-come-into-force

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yep mine have gone down to 2-3p per day

rather than +£6 for the whole or any part of the month on co-op and Lloyds accounts

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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