A&L: Prudent banking is customers' responsibility

11 May 2006
Building society Alliance and Leicester is pushing customers to become more attentive when it comes to overdrafts and being overdrawn.

Alliance and Leicester says that although charges can be high, it is also up to customers to manage their finances better.

The high street company is responding to recent research that suggested up to 2.9 million people were planning to change their current account provider within the next 12 months due to what are perceived as high or unfair charges for unauthorised debts.

"We believe that our charges are reasonable," said Alliance and Leicester spokesperson, Floyd Jebson. "They reflect the market and are clearly shown within our literature.

"We encourage our customers to regularly check their balance to ensure they avoid inadvertently becoming overdrawn," he continued. "We also encourage them to establish an authorised overdraft to avoid charges for becoming 'unauthorised overdrawn'."

In the past, customers have been reluctant to change their current account providers, with customer loyalty in this area of finance far outranking other areas, such as loan applications or savings accounts.

However recent findings suggest this trend if becoming a thing of the past and people are becoming savvier when choosing or changing their bank.

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