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a transparent case of confusion as banks '˜simplify' current accounts
Published: 21/12/2008 |
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The Observer (Business and Media) – 21st December 2008 Thousands of current account switchers face greater confusion and higher charges as banks scramble to make their account fees more transparent ahead of an Office of Fair Trading penalty charges ruling. Although each bank has denied its overhaul is linked to an ongoing OFT investigation into penalty charges on current accounts, many in the industry think otherwise. “All these moves are due to the drive for much more openness and transparency ahead of the OFT court case with banks over penalty bank charges, to show that such changes are now being made,” says Andrew Hagger of price comparison website Moneynet.co.uk. |
