1 in 10 Lives on an Overdraft
A new research by an online comparison site reveals that over 5 million bank clients are permanently in the red, with one in ten living on overdraft condition.
Meanwhile, the research also revealed that 38% of bank clients use their overdraft every year, and more than one in ten are using it more than five times.
The cost of being in the red varies dramatically between different banks, with some charging five times more for using an overdraft than others.
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