2014 Lender Lists:
Post Office Overdraft Charges @ www.postoffice.co.uk
Control costs £5 per month and this is marketed at those who have a history of constantly being in the red resulting in excessive fees. This can be avoided here since there are no unpaid transaction fees, but you as noted pay £5 each month. The primary product is the Standard Account that is free. Its interest rate on overdrafts is 14.9% EAR. There are no unauthorised Post Office overdraft charges. When going over, it is likely that they will just bounce back unpaid items with a £15 charge each time. With no buffer protection you can imagine it being easy to pick up these penalties if you aren’t careful.
Although the banking products are headed on the central domain, the online banking is managed at www.postofficeonlineaccount.co.uk. There is as noted an upgrade available that is called the Packaged Account, but this is for holders of the Standard only. This has an £8 monthly fee and it is built with add-ons such as breakdown cover and travel insurance. The main product in focus has a good overdraft rate, but there aren’t many notable features such as there being no interest paid on your balances. One such benefit is that there are 11,500 branches and so there is always going to one in close proximity to your home.