{"id":90012,"date":"2018-05-31T18:40:00","date_gmt":"2018-05-31T11:40:00","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/why-cant-the-uk-cap-overdraft-fees-some-us-states-have-a-7-limit\/"},"modified":"2018-05-31T19:03:16","modified_gmt":"2018-05-31T12:03:16","slug":"why-cant-the-uk-cap-overdraft-fees-some-us-states-have-a-7-limit","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/why-cant-the-uk-cap-overdraft-fees-some-us-states-have-a-7-limit\/","title":{"rendered":"Why can't the UK cap overdraft fees? Some US states have a 7% limit"},"content":{"rendered":"


\nThe FCA\u2019s new measures don\u2019t go far enough to protect consumers from sky-high bank chargesYou check your account balance at a cash machine and what do you see? You have, say, \u00a31,200 in your account \u2013 but \u201cavailable funds\u201d of \u00a32,200. It\u2019s one of the tricks used by banks to encourage us into using expensive overdrafts, and it works.The Financial Conduct Authority\u2019s review of overdrafts on Thursday revealed that 19 million of us use our arranged overdrafts every year. An extraordinary 13 million go further into the red, falling into an \u201cunarranged\u201d overdraft, where the fees rack up faster than a Wonga payday loan. Interest on payday loans are capped at \u00a324 for every \u00a3100 borrowed over 30 days, yet some banks could charge \u00a3179 for going \u00a3100 beyond the arranged overdraft limit for the same period, according to Which?. Continue reading…
\n
\nSource : theguardian.com
\nRead more…Why can’t the UK cap overdraft fees? Some US states have a 7% limit<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The FCA\u2019s new measures don\u2019t go far enough to protect consumers from sky-high bank chargesYou...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-90012","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-npO","jetpack-related-posts":[{"id":52646,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/bill-sets-out-plan-to-tackle-extortionate-uk-overdraft-fees\/","url_meta":{"origin":90012,"position":0},"title":"Bill sets out plan to tackle 'extortionate' UK overdraft fees","date":"April 23, 2017","format":false,"excerpt":"\r Legislation proposed by MP Rachel Reeves would make banks subject to similar rules as payday lendersBank customers ripped off by \u201cextortionate\u201d overdraft fees will get support next week from a parliamentary bill that promises to protect the most financially vulnerable from escalating charges.Rachel Reeves, a Labour MP who sits\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":64018,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/lloyds-and-halifax-customers-face-up-to-52-apr-overdraft-fee\/","url_meta":{"origin":90012,"position":1},"title":"Lloyds and Halifax customers face up to 52% APR overdraft fee","date":"August 19, 2017","format":false,"excerpt":"\r Account holders slate \u2018astonishing\u2019 rate of borrowing which is more than credit cards and payday loansThere is growing anger among some Lloyds and Halifax customers \u2013 those who regularly use their overdraft \u2013 after they received letters from the banks this week warning them that the cost of going\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":87177,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/overdrafts-can-you-cut-the-cost-of-yours\/","url_meta":{"origin":90012,"position":2},"title":"Overdrafts: can you cut the cost of yours?","date":"May 5, 2018","format":false,"excerpt":"\r A quarter of UK adults have been overdrawn in the past year, paying out a total of \u00a31.2bnLabour this week pledged to cap overdraft costs for millions of hard-pressed bank account holders, promising an average saving of \u00a386 a year. However, there are things people can do right now\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":73820,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uk-banks-have-2m-customers-stuck-in-permanent-overdraft\/","url_meta":{"origin":90012,"position":3},"title":"UK banks have 2m customers stuck in permanent overdraft","date":"December 6, 2017","format":false,"excerpt":"\r Charity warns of unaffordable lending in overdraft market creating a \u2018vicious cycle\u2019 of debt More than 2 million people in the UK are stuck with permanent overdrafts, with many trapped in a \u201cvicious cycle\u201d of borrowing, according to a debt charity.StepChange said it had also uncovered evidence of unaffordable\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":19172,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/unplanned-overdraft-fees-four-times-costlier-than-payday-loans\/","url_meta":{"origin":90012,"position":4},"title":"Unplanned overdraft fees 'four times costlier than payday loans'","date":"July 9, 2016","format":false,"excerpt":"\r Which? calls for a cap on \u2018punitive\u2019 charges after research shows bank rates harming vulnerable customers Going overdrawn on a current account without permission can now be up to four times more costly than taking out a payday loan, according to new research from consumer body Which? Continue reading...\r\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":36358,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hefty-overdraft-fees-under-scrutiny-as-watchdog-reviews-payday-loan-cap\/","url_meta":{"origin":90012,"position":5},"title":"Hefty overdraft fees under scrutiny as watchdog reviews payday loan cap","date":"November 29, 2016","format":false,"excerpt":"\r \r \r Source : telegraph.co.uk\r Read more...Hefty overdraft fees under scrutiny as watchdog reviews payday loan cap","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/90012"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=90012"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/90012\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=90012"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=90012"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=90012"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}