- Wednesday, 9 September 2009The need for people to seek debt advice could be increased as a result of confusion over bank charges.
For those that find managing their finances complicated, the legalities and costs of bank charges can be confusing and difficult to stay on top of.
Despite news yesterday (September 8th) that RBS and Natwest intend to lower their charges as of October 1st, the subject remains a grey area and the courts have yet to make a categorical decision over its legality.
Andrew Hagger, a spokesperson from Moneynet.co.uk, said: "Bank charges need to be clarified and become more transparent.
"A look at the changes RBS and NatWest are making shows you that they have five different sorts of charges so it is still quite difficult for customers to know how much they may be charged."
The Financial Services Authority revealed earlier this month that complaints concerning banking and loans products accounted for more than half of all those received.
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