Bank instigates new charges

Halifax has revealed that it is to alter its methods of charging customers by applying the same regime to all full facility current accounts.

It will eliminate the £28 unauthorised overdraft levy and the £35 costs of a late payment by applying the terms included in the Reward account to its other products.

Mike Regnier, the director of current accounts, explained: “Customers find the daily overdraft charging structure clear and easy to understand. We believe the introduction of this charging structure is the right thing for our current account customers.”

The change may help those who have debt management issues, as the absence of charges for those whose tight finances may see them slip above their overdraft limits.

It is the latest case of a bank making changes to its charges as a court case concerning the legality of such levies awaits a verdict.

Last month, Natwest and the Royal Bank of Scotland revealed plans to trim penalties for unauthorised overdrafts, bounced cheques and missed payments.

Leave a Reply

Your email address will not be published. Required fields are marked *