- 27
- Apr
Moves by the Office of Fair Trading to investigate the current account sector have been welcomed by a consumer organisation.
Earlier this week, the office announced it will determine whether Britons are being charged excessively for going into overdrafts.
Ed Mayo, chief executive of the National Consumer Council (NCC), suggested that such an investigation could help those Britons struggling most with debt management.
He said: "Banks must deliver a fair deal for consumers and stop dragging their customer service reputation further into the mud by waiting for regulatory action."
Mr Mayo added that consumers should constantly search for the "very best deal to meet their banking needs".
He also suggested that more banks should follow the example of financial providers in Northern Ireland in terms of providing a "fair deal".
Earlier this month, the NCC claimed that moves to provide better access to credit providers could help some of the most financially excluded people in the country from falling prey to "unscrupulous and unlicensed lenders".
Interfinancial providing you with breaking general finance news.
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