BBC News - Banks are charging sneaky fees claims Which?
Rated • 1 review • uk, banking, news • bbc.co.uk
Kinda rings hollow when you still read about individual banker's bonuses of well over a million...
In relation to high rates on authorised overdrafts, the industry argues that its own costs remain stubbornly high. The British Bankers' Association (BBA), which represents the banks, is reminding everyone that the cost of borrowing no longer tracks the Bank rate as it once did.
Instead banks have to borrow money on the more expensive wholesale market. The risk of borrowers defaulting is also higher than it was.
In relation to high rates on authorised overdrafts, the industry argues that its own costs remain stubbornly high. The British Bankers' Association (BBA), which represents the banks, is reminding everyone that the cost of borrowing no longer tracks the Bank rate as it once did.
Instead banks have to borrow money on the more expensive wholesale market. The risk of borrowers defaulting is also higher than it was.
