This petition is now closed, as its deadline has passed.
We the undersigned petition the Prime Minister to As 43.4% Shareholders in Lloyds Banking Group should the government allow Halifax's new Overdraft charges. More details
Submitted by Mike Horwath – Deadline to sign up by: 20 December 2009 – Signatures: 687
Halifax has recently informed customer that they will be charging a flat 'fee' for the use of authorised overdrafts. This equates to £1 per day the customer is using an overdraft below £2500 and £2 over £2500. This is a move by the bank to unfairly charge people who are in financially weaker situations and as such the Government should step in to stop the bank undertaking this change due to come into effect on the 6th December. The interest breaks down as such:
£0.01 Overdraft: 3,650,000% £100 Overdraft: 365% £100 Overdraft: 73% £500 Overdraft: 36.5%
This is clearly very high rates of interest and most people with overdrafts between £1 and a £1000 will see a minimum of double the previous charges.
Halifax literature claims this is a fairer way for customers to understand charges; it appears to be a move by the bank to make excessive profits from the less fortunate who live within overdrafts or are not able to clear thier overdraft, such as post graduates, the unemployed, the less wealthy. The Government must take action.
Because there are so many signatories, only the most recent 500 are shown on this page.
Because there are so many signatories, only the most recent 500 are shown on this page.