Fears grow for vulnerable consumers as overdraft charges bite

Fears grow for vulnerable consumers as overdraft charges bite

Debt charities and money experts have warned the most vulnerable customers may be forced to pay double the fees after banks hiked overdraft costs in response to a regulator clampdown designed to protect the poorest consumers.

Banks and building societies make more than £2.4bn a year from overdrafts alone, with around 30 per cent of that from unarranged overdrafts, when account holders go into…

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