Overdraft Fees Hit Majority Of Bank Customers
Unfair bank charges on overdrafts affect over 50 per cent of the country, a new study has revealed
According to a survey from FairInvestment.co.uk, customers are incurring the fees for a raft of reasons and with varying regularity.
Of those surveyed 11 per cent said that they regularly exceed their overdraft limit as frequently as every month in order to make ends meet.
Meanwhile, 16 per cent said they are constantly being charged and cannot afford to pay the charges, while 25 per cent confess to slipping over their limit from time to time.
David Doulton, director at FairInvestment.co.uk, said: "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."