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Friday, December 03, 2010

Lloyds Bank Charges 46,450,869% APR for Unauthorised Overdraft


If you go overdrawn with LloydsTSB without authorisation for a short time this Christmas you could be charged up to 46 million per cent APR. And other high street banks aren't far behind.

A Daily Mail investigation has found the charges levied by the banks are forcing many ordinary people to take out short-term loans with payday loan firms instead because even their high charges are better value than the banks.'

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