Unarranged overdraft fees can be expensive and harmful – that’s why we’re proposing a radical redesign, says Christopher Woolard, Director of Strategy and Competition at the Financial Conduct Authority.
The Financial Conduct Authority (FCA) has said it will be looking into the high-cost credit sector, which includes overdrafts, next month. But is this too little too late, asks our guest author Rachel Reeves MP?
2017 was yet another busy year for Which? campaigns. Take a look back at last year’s achievements and find out what’s in store for 2018…
Millions of households in the UK are worried about their finances. But what can be done to change this? (more on Budget 2017…)
Last summer, Which? research showed the high cost of unarranged overdrafts and how these charges can hit banks’ vulnerable customers the hardest. Rachel Reeves MP joins us to explain why action on these charges is long overdue…
After a near two-year-long probe into the banking sector, the Competition and Markets Authority has today published its proposals to shake up banking. But will it be enough?
When people face a shortfall in their finances, they probably turn to their bank first. But it might surprise you to know we’ve found unarranged overdrafts that cost more than a payday loan.
(more about overdraft charges…)
The CMA has issued its possible remedies for retail banking, but we’re not convinced it has gone far enough. So how would you improve banking for customers?
Are you satisfied with your bank or could it make changes to improve the service you get? We think banks have a lot of work to do, so we’re calling on the regulator to take action…
For anyone who manages the household finances, you’ll understand the frustration of a bill arriving just days before the money you need to pay it with has reached your account. And then the fees start to hit.
The introduction of current account charges has been suggested as the remedy to a variety of financial ills over the years. Most recently, it’s been proposed to tackle banking transparency – but is this the solution?
If you go overdrawn, have you ever worked out how much it’s costing you? Do you wait for your bank to tell you how much it’s charging you each month and keep your fingers crossed that it’s not too painful?
Have you ever asked yourself if you’re with the right bank? Our research shows you could be losing thousands of pounds in fees and charges, yet many can’t easily compare accounts to switch.
It’s crunch time for credit. The Government is implementing a cap to the cost of payday loans and the Financial Conduct Authority is due to take over the policing of credit from April 2014. The FCA’s CEO tells us more…