I went overdrawn last month. Normally my bank issues me a statement every time I fill an A4 sheet, on average monthly. However this time they issued a statement after 6 days, with only 9 transactions on it.
This was because they had to tell me of the charge for going overdrawn last month (which must have to be done in a certain timeframe).
Theres no fee, so its only interest, at 17.9% for £20 for 2 days (IIRC).
One penny.
So, they are going to take 1p out of my bank account, which I dont mind, the overdraft is very handy.
But it must have cost them at least 50p to send me the statement early!!!
This was because they had to tell me of the charge for going overdrawn last month (which must have to be done in a certain timeframe).
Theres no fee, so its only interest, at 17.9% for £20 for 2 days (IIRC).
One penny.
So, they are going to take 1p out of my bank account, which I dont mind, the overdraft is very handy.
But it must have cost them at least 50p to send me the statement early!!!