So, every time you go into your overdraft, you're charged $5? And now banks can charge whatever fee they want? (Sorry, just confirming.)

I can see how that would negatively impact a lot of people. Do you know the reasoning provided? Are they trying to discourage people from going into their overdrafts regularly?

Sorry for all the questions. Haha. It's hard to comment on something I'm not familiar with. Bloody British! 😀