Many 'pay too much' for overdrafts

%VIRTUAL-SkimlinksPromo%A "significant number" of people with overdrafts are potentially paying too much for their borrowing amid confusion over charges which are often complex and opaque, an investigation by the City regulator has found.

The Financial Conduct Authority (FCA)'s probe into the £8 billion market found it is not providing good value and there is "virtually no evidence" that consumers are shopping around.