76. The heading of this Part of the Order has been amended from the heading given in the Final Report (‘Unarranged Overdraft Alerts’) to clarify that it applies not simply to ‘unarranged overdrafts’ assuming the EBA adopts the FCA’s proposed definition in the context of the Payment Accounts Directive. Instead, as set out in the Final Report, this Part of the Order is intended to apply where there is an attempt to exceed a ‘Pre-agreed credit limit’. This is defined in Part 1 and includes circumstances where an arranged overdraft (defined in accordance with the FCA’s proposal to the EBA) is exceeded but customers are offered a second tier or some other form of additional arranged overdraft. This may, for example be, where a daily charge of 50p becomes a daily charge of £5 after a set limit which varies from customer to customer. It is not intended to capture a stepped increase in rates or charges due to increased borrowing that is applied at the same level for all overdr
…Version date: 2 February 2017 - onwards