On 27/04/2018 00:55, TimW wrote:
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

Do you want to name a bank that has done that to anyone you know?
Its in the terms and conditions so that they can get their money back if
you decide to close the account not to just put the charges up for
customers.