overdraft

One in five people are overdrawn by £697 each day

13th November 2024 Arrears and Recoveries | #bank #overdraft

New research by TotallyMoney data found that one in five adults (19%) are overdrawn by £697 each day with many high street banks are charging between 35%-49.90% APR. This makes overdrafts an expensive way to borrow money, and in line with a typical near-prime personal loan (a prime personal loan would usually be below 10%…

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overdraft

One in five people are overdrawn by £697 each day

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