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bank of ireland query - interest appeared on statement

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  • 04-10-2011 12:18pm
    #1
    j4vier
    Registered Users Posts: 1,893 ✭✭✭


    hi

    just saw my account has been debited with 2.54 under the line 'interest'

    i ve never seen this before so what exactly does this mean?


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    #2
    tenchi-fan
    Closed Accounts Posts: 3,339 ✭✭✭tenchi-fan


    j4vier wrote: »
    hi

    just saw my account has been debited with 2.54 under the line 'interest'

    i ve never seen this before so what exactly does this mean?

    It means your account was overdrawn at some stage.

    Interest is a charge based on the amount you were overdrawn. It is a percentage, e.g. an overdraft rate of 18% per year.


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    #3
    squrm
    Registered Users Posts: 181 ✭✭squrm


    tenchi-fan wrote: »
    It means your account was overdrawn at some stage.

    Interest is a charge based on the amount you were overdrawn. It is a percentage, e.g. an overdraft rate of 18% per year.


    I have the same charge but at no stage was the account overdrawn?


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