One of the UK’s leading banking institutions has recently announced its intention to make the negative effects of mismanaged overdrafts, or specifically, the charges associated them, publicly available at its numerous cash points located across the country.

The office of fair-trading is said to be delighted at the news, and a spokesperson for the body commented that this type of awareness will go towards helping debt prone consumers avoid the debt related perils associated to such facilities.

He also suggested that the OFT was more than supportive in any type of initiative, devised to make the consumer spend a little more time thinking, before they act. However, the biggest concern at the moment is firmly squared towards the actual charges themselves, which many believe are unethical and are directly responsible for the further hardships of our countries most debt stricken individuals.

At the current time, there has not been an official court ruling against the charges but a number of independent financial bodies and consumer groups are actively lobbying against the charges, in an attempt to have them withdrawn completely.