UK consumers are unwilling to be charged for the use of a current account, a new report warns.

Following the recent ruling that the fairness of bank charges for overdraft use could be tested in courts, MoneyExpert.com states that the Office of Fair Trading test case could in fact be a bad thing for the "silent majority" of Brits.

People who are not usually subject to charges for using an overdraft without authorisation could lose out if financial services providers attempt to recoup lost revenue by introducing standard fees on accounts, site founder Sean Gardner says.

"Given that most people would prefer not to see the end of free banking and would only be prepared to pay a modest monthly fee the majority of bank customers stand to lose if the banks eventually lose this case," he comments.

About 1.3 million debt consolidation loans were issued to British consumers last year, research from uSwitch.com has discovered.
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