Banks urged to help debt-hit Brits by scrapping overdraft charges
Banks urged to help debt-hit Brits by scrapping overdraft charges
Wednesday 11th June 2008
According to research conducted by FairInvestment.co.uk, more than half of Britons are affected by overdraft fees.
Of these 16 per cent said they are constantly being charged and cannot afford to pay the fees.
Meanwhile, 11 per cent said they exceed their overdraft limit every month to meet their day to day living costs.
David Doulton, director at FairInvestment.co.uk, said the findings should compel banks to "act in the customers' best interests" and bring an end to the charges.
He added: "With the cost of living on the rise, consumers are finding it harder and harder to make ends meet.
"Banks have a responsibility to their customers to provide fair bank charges. Currently, people are being charged up to as much as £40 for exceeding their overdraft."
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