Consumers are being charged up to £900 for going overdrawn, according to the Which? consumer group, highlighting the range of costs involved in 'free' banking.
Andy Zanelli, head of technical consultancy at AXA Wealth, has described the retirement situation as a "timebomb" but said that it was reassuring people were seeking professional retirement advice.
HSBC, Nationwide Building Society and Royal Bank of Scotland have become the first financial services organisations to use a new Financial Services Compensation Scheme training programme to build consumer confidence.
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