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It had an unplanned, unarranged quality.
You don't pay interest on an unarranged overdraft.
A person with a £50 unarranged overdraft for a month can pay back far more than twice that in total.
This means that customers face higher charges if their unarranged overdraft runs across two monthly billing periods.
Among ideas already suggested by the CMA are Limiting the maximum monthly charges for an unarranged overdraft.
Our Act Now Alert service would alert the customer to being in unarranged borrowing and that they should take action".
Tyrie said: "Some customers are being charged very high rates for using their overdrafts, both arranged and unarranged.
Framed, they hung in sitting-rooms, while outside the windows the empty, washed-out, unarranged landscape stretched away to the transparent sky".
If you slip into unarranged overdraft territory to the tune of more than £6, you will pay £6 per day.
However, I ask that the FCA take this opportunity to go further and cap the unarranged overdraft charges," she said.
Requiring banks to offer grace periods during which customers can take action to avoid unarranged overdraft charges.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com