The Sun - Dive into the red at £50 a dip

THERE’S a double sting in the tail for customers as they fork out almost £50 a pop for going overdrawn.

A one-off mistake landing you in the red can mean being charged TWICE, once through an arrangement fee and again if a cheque or direct debit is bounced.

Research from comparison site MoneyExpert shows that one in three accounts rack up a fees of up to £60.

It contrasts with the cost of defaulting on a credit card which has been capped at £12 after a ruling by the Office of Fair Trading.

Sean Gardner of MoneyExpert, said: "Some people might think that their bank charges are on the verge of being reduced or scrapped, but the court case continues and the charges remain.

"People need to pay careful attention to their spending and the arrangement they currently have with their bank.”

The analysis shows the average unpaid item fee is £31.38 and the average one-off charge is £13.60 adding up to an average overall bank charge £44.98.

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