Yesterday, i received a phone call from my bank manager. I had not heard from him in around 12 months.
In a friendly tone he said that due to the economy my overdraft borrowing rate would increase, which currently stands at 1.5% above the base rate. To my shock and horror he said it would increase to 5.95% above the base rate - A WHOPPING 4 TIMES MY CURRENT RATE!
And there i was, thinking banks would be passing on the drop in the Bank of England rates to me! How ridiculous....moral of the story, look after your own money, the banks won't and they will charge you for it too!
Saturday, November 15, 2008
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