Scots bank fees up to seven-and-a-half times more than payday loans - still cheaper than using a rip off factoring company!

CHARGES from big high street banks borrowing as little as £100 are as much as seven-and-a-half times higher than those from payday lenders - with Scots banks amongst the worst offenders, new research has found.

The consumer watchdog Which? which carried out the study says the regulator, the Financial Conduct Authority should act to to cap the high unarranged overdraft fees on current bank accounts.
Exorbitant overdraft fees are forming part of an FCA review into high interest loans which was in response to the Competition and Markets Authority’s two-year investigation into high-street banks, which was completed in August.

 http://www.heraldscotland.com/news/15076147.Exorbitant_Scots_bank_fees_up_to_seven_and_a_half_times_more_than_payday_loans/?ref=ebln