Halifax is imposing a fee of £1 a day from arranged overdrafts of £0.01 to £1,999 as from 1st Dec 2015. No interest rate is charged.
So if one has an arranged overdraft of £100 and goes overdrawn by £0.10, a fee of £1 will be charged and by 100 days, this £0.10 becomes a unarranged overdraft for which a fee of £5.00 is faced.
Is this imposing excessive charges or treating customers unfairly??