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Martin Lewis urges overdraft users to 'act now' ahead of bank account changes
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dailyrecord.co.ukMartin Lewis was back on television on Thursday to issue an urgent warning to anybody currently in their overdraft. The money-saving expert appeared on Good Morning Britain and told presenters, Adil Ray and Ranvir Singh that many account holders will need to "act now" or face overdraft rates of almost 40 per cent.
In April, the Financial Conduct Authority (FCA), implemented a series of measures as part of a bailout package for millions of households across the UK struggling financially to cope with the impact of the coronavirus.
Those measures included payment holidays across credit card, loans, mortgage, car finance and catalogue debts. As a result, borrowers could defer payments for three months.
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