Shake-up announced by Lloyds Group will benefit many customers, but charges are still ‘way out of line’
Many Lloyds Bank and Halifax customers will see their overdraft costs shrink week – but some will pay more.
A shake-up of fees announced by Lloyds Banking Group in July took effect on 2 November. Lloyds, Halifax and Bank of Scotland have scrapped existing charges with a new flat fee of 1p a day for every £7 that someone borrows over their fee-free limit. The new fee is charged at the end of each day they use their overdraft.