By John Smith • 09 April 2020 • 16:38
THE majority of British Banks and Building Societies have received approval from the Financial Conduct Authority (FCA) to grant interest free overdrafts of up to £500 to customers with good credit records.
Each bank is making a different offer to customers although RBS/NatWest which still has British government involvement is initially the most parsimonious of the biggest banks, just undertaking to only charge 18.9 per cent!
All of these offers start in April and some are guaranteed until July but individuals with UK accounts should check directly with their banks to see the exact options.
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Married to Ophelia in Gibraltar in 1978, John has spent much of his life travelling on security print and minting business and visited every continent except Antarctica.
Having retired several years ago, the couple moved to their house in Estepona and John became a regular news writer for the EWN Media Group taking particular interest in Finance, Gibraltar and Costa del Sol Social Scene.
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