If you’re worried about money during the coronavirus lockdown, help may soon be at hand. Overdraft customers will be able to request zero-interest buffers of up to £500 over three months to help ease the financial impact of Covid-19, under new proposals from the City regulator.
The Financial Conduct Authority (FCA) is proposing a range of temporary "stop gap" measures to offer quick support to users of some consumer credit products.The proposed measures will be subject to a brief consultation ending at 9am on Monday April 6 - if confirmed, they will be in place by Thursday April 9.
The plans include ensuring that for customers who have been hit financially by the coronavirus crisis and already have an arranged overdraft in place on their