16th July 2012: An interesting article in the Business Section of the Daily Telegraph citing an unpublished report from The Citizens Advice Bureau given as evidence to the Financial Services Authority on how ‘packaged or bundled’ bank accounts are sold to people for whom they are inappropriate and who really require a ‘basic’ bank account.
The experience of a man with learning difficulties is cited: “One man with learning difficulties was existing on part-time wages of around £300 per month, said the CAB. He had debts of over £1,400, as well as an overdraft, compounded by being sold a packaged account with benefits he was unlikely to use. As a result, the customer was paying around 20pc of his income on bank charges and getting still further into debt.”