MoneySavingExpert's Martin Lewis has explained why a recent change means you might be seeing less money in your bank account.
He appeared on ITV's Good Morning Britain to tell viewers banks have been banned from including overdrafts in the 'available balance'.
Instead, they will be displayed separately, which means it may appear you have less money in your account, Hull Live reports.
Martin said: "Currently, many banks include your permitted arranged overdraft when showing you your 'available balance' – so if you have £100 in your account but also have an arranged overdraft facility for £500, your available balance will appear as £600."
He added "from Wednesday December 18, new rules from the regulator Financial Conduct Authority will ban banks from doing this."
So from December 18, the law will state banks cannot include your overdraft in your 'available balance.' Instead, they will be displayed separately.
Martin explained: "In this example above, your available balance will appear as £100 instead – and if you went into your overdraft, you'd see a negative number."
He said he supports the move as it will make clear the overdraft isn't "a part of the cash you have in your pocket".
HSBC, First Direct and M&S Bank have all recently made the change with Santander, Halifax, Lloyds, Metro and TSB following suit soon.
If you have an account with Barclays, the Co-op Bank, Monzo or Nationwide, you won't notice any changes as they already separate overdrafts from your available balance.
For more information on overdrafts and the best accounts to choose if you're overdrawn, head to MoneySavingExpert.com .
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