Gareth Shaw, Which? Money Expert said:
“Banks have made over a billion pounds a year through unfair unauthorised overdraft fees, which we have previously found can cost considerably more than payday loan charges. We want the regulator to restrict these fees, bringing them quickly into line with arranged overdraft charges.
“The FCA must take swift action on the unauthorised overdraft fee
s that banks charge their customers – many of whom can afford it least.”