FURTHER ACCOUNT In the Bank Charges Test Case — OFT v Abbey National and others [2008] All ER (D) 349 (Apr)(see NLJ 9 May 2008, p 668)-- Mr Justice Andrew Smith on 22 May 2008 granted the banks permission to appeal his ruling that current terms and conditions for unarranged overdraft charges were susceptible to assessment as to fairness under the Consumer Credit Regulations 1999 (SI 1999/1956). (newlawjournal.co.uk)
Charges for unarranged bank overdrafts could be banned, under an option being considered by the Financial Conduct Authority (FCA). (premierchristianity.com)
Ask your bank about their policy on unarranged overdrafts, so that you are aware of the possible penalty fees and interest rates, should you exceed your available balance. (moneysmart.gov.au)