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- Financial Conduct Authority is investigating new charges being introduced
- Barclays claims new rules will be simpler for customers and most will pay the same or be better off
- But some could see charges rise by as much as 15 times, it is claimed
- Move has triggered a backlash on the bank's Facebook page with customers threatening to move their accounts elsewhere
Bank overdraft charges are being investigated amid evidence that some are almost as expensive as payday loans. Regulator the Financial Conduct Authority fears customers may not understand how fees are worked out in systems that can vary widely between banks. Barclays is changing to a new charging regime which it says will be simpler for customers. However some will see their charges rise by as much as 15 times, although Barclays says the majority will pay the same or be better off. But the move has triggered a backlash on the bank’s Facebook page, with customers threatening to leave in protest......Read more here