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Comparing cost of current accounts 'virtually impossible'

Current account providers are using baffling charging structures that make it almost impossible to calculate and compare the cost of slipping into an unauthorised overdraft, according to consumer group Which?

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Overdraft charges 'virtually impossible' to calculate

Baffling terms used by current account providers to describe unauthorised overdraft charges include "informal","unplanned", "unarranged" and "unapproved", Which? found.

Consumers are faced with a myriad of complicated charges for using an unauthorised overdraft, and it's virtually impossible for people to calculate and compare the cost of running a current account.

It's no wonder so few people switch between banks when you can't easily compare prices.

– Which? executive director Richard Lloyd

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