24/7 Moneybox Track Excessive Overdraft Charges

From: 24/7 Moneybox
Published: Wed Sep 09 2009

24/7 Moneybox, who specialise in providing instant , draw client’s attention to the excessive overdraft charges levied by banks.

Not only have interest rates been cut on savings, bank charges on authorised overdrawn accounts have increased.

Bank of England reports show that rates in July 2009 were at their highest since 1995 - current accounts at Nationwide incur an 18.9% charge, up 11.5% in 2 years. Cahoot is rated as one of the fairer providers, yet still charge 1.1% on in-credit accounts and 11.8% on authorised overdrafts.

Unauthorised overdrafts are charged at even more exorbitant rates - consumer watchdog Which? have revealed Natwest and RBS are most expensive, charging £118 per transaction.

For credit cards the overall average rate on purchases has risen in the past two years from 16.5% to 18.1%. Again Nationwide has been criticised this time for upping its Visa from 17.9% to 19.9% in May.

"Excessive charges can turn what was a small charge into a big drain on your resources," says James White of 24/7 Moneybox. "A payday loan from 24/7 Moneybox can help you avoid missing a debit date and incurring bank charges too - just sensible money management really."

To find out more about 24/7 Moneybox visit: www.247moneybox.com or call 0871 312 0247 (calls cost 10p per minute).

About 24/7 Moneybox:
Established in 2009, 24/7 Moneybox is the trading name of Active Securities Limited. They offer a financial helping hand, providing fast and reliable loans until your next payday. It’s a simple way to catch an advance to help you cover unexpected bills and avoid incurring additional bank charges. Apply easily online and money can be transferred to any UK bank account the same day. Poor credit history isn’t necessarily a problem and clients can borrow up to £800.

Press Contact:
James White
24/7 Moneybox
305 Linen Hall
162-168 Regent Street
London, W1B 5TD
0871 312 0247
Company: 24/7 Moneybox
Contact Name: James White
Contact Email: susie.hood@clickconsult.com
Contact Phone: 0871 312 0247

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