overdraft

The mysterious addressee was then sent seven letters, a bank card, a PIN, overdraft limit warnings and a warning that an outstanding debt could be referred to a credit reference agency.

For others it could be a cheaper option to avoid overdraft fees or high-interest short-term loans.

Experian said it was overhauling its scoring system to better reflect "more of the everyday financial behaviours that matter" which included things "like paying rent or reducing overdraft use".

Now for the truly hilarious part: U.S. banks get free intraday overdrafts from the Fed.

Before 2008, banks paid fees for overdrafts and managed their liquidity carefully.