2014 Lender Lists:

Halifax Overdraft Charges @ www.halifax.co.uk

Halifax overdraft charges will be examined here that we picked out from www.halifax.co.uk. To provide some initial background history, this bank is headed as the UK’s largest provider of residential mortgages and savings accounts. Their history dates back to 1853 when they were originally formed as a building society (named after a town in West Yorkshire). As it stands today, this is a division of Bank of Scotland that in turn is owned by the Lloyds Banking Group. They have 15 million customers and over 4 million customers use their online banking. They have 700 branches scattered across the UK and their Group Director is David Nicholson.

Moving to the Halifax overdraft charges, if you have the Reward Current Account or the Ultimate Reward Current Account then there is a £50 buffer on the overdrafts and so this protects you if you happened to just head into the red accidentally. The Ultimate in fact has no fees up to £300, but you pay £15 a month for this. The other accounts have a lower buffer limit at £10. With planned overdrafts, they impose £1 daily fees that heads up to £1999.99. Between £2000 and £2999.99 is £2 and finally £3000 and above is £3. Halifax unplanned overdrafts in most cases trigger a £5 daily fee.

You can apply for any such advance at www.halifax.co.uk (the banking login is actually redirected to www.halifax-online.co.uk). If approved, the funds are available immediately. Most customers who use an overdraft facility here will be paying £1 each day. If you have taken out £100 then this is similar to what top short term lenders charge at 1% daily. Obviously if you take out £300 then the value significantly improves. This buffer is important to see in place that covers both planned and unplanned. Without this, heading just a few pounds over would work out very expensive and this is magnified when unauthorised. Finally, no overdrafts are available with their Easycash basic account.