Overdraft cap 'needed' as spiralling charges add millions to problem debt

Helen Knapman

woman-using-bank-machine.jpg

Overdraft users need to be protected from spiralling debt, as average charges for dipping into the red rack up to £225 a year, according to StepChange.

Overdraft users need to be protected from spiralling debt, as average charges for dipping into the red rack up to £225 a year, according to StepChange.

The debt charity is calling for the regulator, the Financial Conduct Authority (FCA), to set a maximum monthly cap on overdraft charges.

read more

Source Moneywise http://ift.tt/2e0v9Qh