HSBC to introduce 40% overdraft interest rate, quadrupling costs for some customers

Credit: WorldNews- Published on December 5, 2019
HSBC is set to impose an overdraft rate of almost 40 per cent, as much as quadrupling the interest paid by some customers from March 2020. The move is in response to new industry-wide rules designed to simplify overdraft fees and put an end to rip-off charges, but while some customers will benefit, many will pay significantly...

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