We’re changing the fees you pay when you use a planned overdraft. The new daily overdraft fee is designed to be simpler and to help you stay in control of your overdraft borrowing, as you’ll be able to see how much your overdraft is costing you each day you use it. More than nine in ten customers will either be better off or won’t see any difference in how much they pay when they use their overdraft. How the changes affect you will depend on how you use your overdraft when the changes come into effect in November.
We’re writing to all bank account customers throughout August explaining the changes - your letter will reflect how you tend to use your overdraft, give you detailed information on the new charges and if you need it, what additional support is available to you.