On 30/04/2018 14:51, Roger Hayter wrote:
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so compare an unauthorised £500 overdraft from Barclays to an
unauthorised loan £500 from "wonga" and tell me what the APRs for each are.

Now do the same for an authorised overdraft and a loan from "wonga".

Can you see a difference?

No, not really. If the banks did not wish to make ad hoc loans without
formal authorisation available to their customers they wouldn't allow
them. Simple enough.



So they should bounce all the payments and let the customer suffer more
charges from them and from the entity they were paying, sounds a good idea.