Overdrafts at 10-year high

AUTHORISED overdraft rates have soared to their highest level for a decade.

By The Newsroom

Published 13th May 2010, 10:56 BST

Updated 13th May 2010, 12:03 BST

New research showed consumers are currently charged an average of 14.22 per cent in interest if they go into the red with their bank's permission, the highest level since May 2000, according to financial information group Moneyfacts.co.uk.