heads-up for UK people with overdrafts
So, the UK financial regulator tried to simplify the way banks charge people for overdrafts and make it fairer. No more daily fees, no more punitive fees for unarranged overdrafts. Just one clearly advertised interest rate for all overdrafts. The changes happen in April.
BUT, because banks are bastards, they are almost all planning to set that rate at around 40%. If your account spends most of its time overdrawn, this will really affect you.
The Money Saving Expert blog has a guide to who's announced which rate and also info about possible options for switching bank and getting a bit of respite that way. If you're permanently overdrawn, it's really worth doing something before April.