Which? executive director, Richard Lloyd, said:
“We’ve long campaigned for consumers to be given better data about their personal current account running costs, to help people compare banks and inject much needed competition into the market. This information should make a big difference as people could be thousands of pounds worse off by having the wrong account.
“We’re delighted the Government has responded to our calls and we look forward to working with them and the banks to see how Which? could help consumers use this information to shop around.”