Barclays overdraft rate increase - 80% Options
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Graeme
#1 Posted : Friday, November 21, 2008 9:35:18 AM
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Comments received from a Moneyfacts.co.uk user:

Ref comments in press. Barclays advised me two weeks ago that my overdraft rate has increased from 5 to 9%. An increase of 80%. This really should be illegal.
Graeme Knights
Search Marketing Consultant
Moneyfacts.co.uk Limited | www.moneyfacts.co.uk
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rossitron
#2 Posted : Monday, December 01, 2008 8:58:14 AM
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I am not sure you have all your facts correct. Barclays haven't ever done an overdraft at 5%. The lowest I have seen them do is a Barclays Bank base rate linked overdraft for Premier clients and this rate is BBBR plus a margin.... certainly higher than the 5% you are quoting. If you have a fee-paying account then you may get some interest free portion, then on the remainder it will be 9.9% apr. If you have a standard account, it will be 17.9% apr.
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