Does your bank send you endless info on stuff that's incomprehensible ?
Every week or so i get a pile of stuff through the door from my bank.
Most of it is sales pitch garbage which i read then discard.
This week they've sent me a letter on how they're changing the fees for overdrafts.
Alarm bells ringing, right ?
They're trying to suggest that by charging 1p for every 拢7 'you borrow each day', you'll be better off as a customer............!!!
Have to get into the small print to realize that what they are actually doing is charging you interest daily rather than weekly or monthly.
eg: If you take 拢5 from your agreed overdraft on Monday, you'll accrue a fee of 1p for every 拢7 you borrow, EACH DAY ! Until you settle your account !
Love the suggestion that, for another small fee馃檮, they'll send you a text alert advising of your impending fee charge !
if banks are trying t pull this kind of stunt it's generally a sign that all is not well in 'Economy Land'.
Most of it is sales pitch garbage which i read then discard.
This week they've sent me a letter on how they're changing the fees for overdrafts.
Alarm bells ringing, right ?
They're trying to suggest that by charging 1p for every 拢7 'you borrow each day', you'll be better off as a customer............!!!
Have to get into the small print to realize that what they are actually doing is charging you interest daily rather than weekly or monthly.
eg: If you take 拢5 from your agreed overdraft on Monday, you'll accrue a fee of 1p for every 拢7 you borrow, EACH DAY ! Until you settle your account !
Love the suggestion that, for another small fee馃檮, they'll send you a text alert advising of your impending fee charge !
if banks are trying t pull this kind of stunt it's generally a sign that all is not well in 'Economy Land'.
56-60, M
