Do banks have to notify you if they raise overdraft interest?

Calico

Registered User
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417
I'm sure the overdraft interest rate has gone up on my accounts but I don't ever remember getting a letter from them.
 
I think lending rate changes appear on your Statement but you may not get them depending on what diary dates you may have asked for or alternatively every 6 months or yearly. I think banks have to issue statements yearly.
 
Most banks just put a notice in the papers of changes of rates (lending, saving and overdrafts).
 
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