Change to Ts and Cs

I got an email from my bank, Cahoot, the other day. There’s an upcoming change to the way it describes overdraft fees and interest in its terms and conditions:

  • ‘Authorised overdraft rate’ will become ‘Arranged overdraft interest’;
  • ‘Unauthorised overdraft rate (EAR)’ will become ‘Unarranged overdraft interest’; and
  • ‘Unauthorised overdraft fee’ will become ‘Unarranged overdraft usage’.

Well, yes, those are clearer, I guess, though not as clear as could be. So why not go the whole hog?

Two paragraphs into the full terms, clause 1.2, there’s this sentence:

‘As you may have selected more than one cahoot account, we have grouped together in this section all those conditions that are of general application.’

Then below, in clause 1.3, where the bank defines the bold phrases, there’s this:

‘application means the online application completed by you when applying for a cahoot account.’

So, Cahoot, you mean you’ve ‘… grouped together in this section all those conditions that are of general the online application I completed when I applied for a cahoot account’? I don’t think so.

How about this? ‘In this section we’ve grouped the conditions that apply to more than one account.’

It’s shorter. And it makes sense.

Leave a Comment

92 − = 91