Overdraft charges shakeup effectively charges the 'good' customers to subsidise the 'bad'. Millions of NatWest and Royal Bank of Scotland current account customers are to be hit with new charges of up to £72 a year – on top of the interest they must pay – if they go overdrawn by more than just a tenner. RBS, which is 82% owned by taxpayers, is introducing an arranged overdraft fee on 12 July. Some customers with such overdrafts might be annoyed to learn that this fee is in effect being introduced to finance a cut in the costs faced by those who go into the red without permission. A number of changes will take effect on that date, and these will mainly affect Select and Select Silver accounts. If you have a standard NatWest or RBS current account, it will change into a Select account on 12 July. Your account will stay the same but there will be a new arranged overdraft "usage fee" of £6 per month. This will be levied if you dip into your overdraft by more than £10 and will be charged on top of your interest – the typical overdraft rate is 19.89% EAR. In other words, you would have to pay an extra £72 in charges over a year.....Read more here