Lloyds, Halifax and Bank of Scotland customers face a fee increase from today as new overdraft rates take effect.

The shake-up to interest fees was announced by Lloyds Banking Group – which owns all three brands – in August last year and will mean some customers will see their rate almost double, from 27.9% to 49.9%.

The bank said that some customers will pay the same rate or less, with some seeing rates drop to 19.9% or 29.9%, while others will face a higher fee. 

Lloyds said it is reviewing…