Ask the Banks to waive, reduce and/or delay the increase in overdraft fees.

Rejected 21 signatures

What the petition asks

From April 2020 the FCA instructed the banking industry to change the way they charge for overdrafts. Many responded by setting a 39 to 49% APR rate. I would like the Government to ask the banks during the Coronavirus restrictions to waive, reduce and/or delay any increases in charges.

Many people in the UK live on a hand to mouth existence and have no choice but to use an overdraft or borrow funds just for day to day living.

During this time of self isolation and potentially restrictions of peoples movements and the possibility of lay offs there is a high chance that people will need support and help even more and I believe that the banks should not be able to profit from these hardships and should be protected.

Why it was rejected

There was already a petition about this issue. Duplicates are rejected so signatures collect in one place.

You may wish to sign this petition calling for the same action: Encourage lenders to suspend interest, fees and repayments during COVID-19

You can find out more about coronavirus and how you can protect yourself and others here:

NHS website: https://www.nhs.uk/conditions/coronavirus-covid-19/
UK Government website: https://www.gov.uk/coronavirus

You can read NHS tips to help if you are worried about coronavirus here: https://www.nhs.uk/oneyou/every-mind-matters/coronavirus-covid-19-anxiety-tips

Timeline

18 Mar 2020	Petition opened for signatures
9 Apr 2020	Rejected by the Petitions Committee

Key facts

Signatures 21

Status Rejected

Rejected 9 Apr 2020

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