Payday Loan Brokers Help Themselves To UK Savers’ Accounts, Customers Outraged – 29 October 2014

RT logoBrokers linked to payday loan companies may be raiding the bank accounts of over 1 million Britons, with many being the poorest in society, the UK’s biggest banks have warned.

Natwest, one of the largest retail banking chains in Britain, said it was “inundated” with complaints from customers.

Victims claimed that brokerages, offering deals on payday loans – short term loans with very high fixed rates of interest – are extracting sums of £50 to £70 from savings accounts without informing customers first.

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