[sellickbhoy]

Hmmm, banks a necessary evil. HOWEVER, I don't think they should be allowed to change the rules of the game midway through!

1st off, the banks make money from overdrafts.

Overdraft rates are generally higher than personal loan rates, they are shorter term and can be immediately repayable if the bank wants to. It really is for short term borrowing and if you need to have a large overdraft every month, i think you should look at another way of financing your debts (sorry, lecture over)

But if the bank agrees to give you an overdraft facility of £1000, and agrees an interest rate of x% - then that should remain in force for teh term of the overdraft agreement

if that overdraft was costing you £10-15 a month, then suddenly being told it will now cost you £30 or £60 a month is a bit of a change in the rules.

IMO, the bank should give you a notice period to clear your overdraft and get back in credit and THEN apply the new rules.

Hammering people who rely on heavy overdrafts or who are regularly overdrawn won't improve their situation by having larger bank charges - there should be a duty of care by the bank to offer more cost effective solutions to customers to borrow the necessary money.