This petition was submitted during the 2019-2024 parliament
Rejected petition Ask the Banks to waive, reduce and/or delay the increase in overdraft fees.
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.
More details
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.
This petition was rejected
Why was this petition rejected?
There’s already a petition about this issue. We cannot accept a new petition when we already have one about a very similar issue.
You are more likely to get action on this issue if you sign and share a single petition.
You may wish to sign this petition calling for the same action: https://petition.parliament.uk/petitions/305297
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
We only reject petitions that don’t meet the petition standards.