Qualified advisers answering your
Financial Questions
call 0800 092 1245

Halifax attracts the wrath of UK consumers

The Halifax financial operation, now part of the Lloyds banking group, has today attracted significant criticism from the general financial sector as well as UK consumers. In response to the ever-changing banking arena, which has been heavily influenced by recent consumer crusades, the Halifax will from 6 December be charging each and every customer for various financial services which until now may have been "free".

Agreed overdrafts of up to £2500 will attract a charge of one pound a day with larger overdrafts attracting a charge of two pound per day. Unauthorised borrowing on any bank account will see customers charged five pounds per day and while currently there will be no interest charges or fees for bounced cheques or unfunded direct debits, it is highly likely that this could change in the near future.

In all honesty it was inevitable that one of the larger banking institutions in the UK would break rank and introduce a fee-based service although the fact that Halifax has been so aggressive in its cut-off date between the new regime and the old regime is what has angered many. It is highly likely that we will see other banking institutions follow this path now that the "ice has been broken" and the UK financial sector would appear to have changed forever.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details