Money Box, 24 October 2009

Customers of Halifax and Bank of Scotland have been contacting Money Box to complain about radical changes to their overdraft charges.

From 6 December 2009, current account holders with an approved overdraft will be charged £1 a day, even if they are just a penny overdrawn.

The fee will apply to approved overdrafts up to and including £2,500, after which it rises to £2 a day.

Many customers fear this could add up to hundreds of pounds each year, and some have threatened to close their accounts and change bank.

Bob Howard reported.