On 26/04/18 22:51, bert wrote:
In article , "Dave Plowman (News)"
writes
[...]


Quite. When looking into this, I was surprised just how much an
unauthorised overdraft could cost these days. Some certainly pay for
'free' banking now.

An unauthorised overdraft means in effect you are helping yourself to
someone else's money.

This could be entered in the 'stupidest post of the year' comp.

You seem to imply it's some kind of theft. Way off the mark and not very
nice.

Besides overdrafts are repayable on demand, so the bank can just declare
your arranged overdraft to be 'unauthorised' double the rate and start
slapping penalty charges on your stos to increase it further. Is that
'helping yourself to someone else's money' Yes, the bank is doing it.
tw