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Bank charges: Lloyds TSB T&Cs 'hardest to follow'

Lloyds TSB has the most complex set of terms and conditions (T&Cs), Which? has found as part of a new study into how institutions inform customers of bank charges, claims, rights and refunds.

The consumer champion put the terms and conditions of eight standard current accounts from major banks and building societies to the test, asking people a series of questions to see whether they understood the T&Cs correctly.

Despite testers being given unlimited time to answer the questions, none of the banks scored 100 per cent.

In fact the percentage ranged from Lloyds TSB's lowly score of 53 per cent to NatWest's barely commendable 67 per cent.

The T&Cs of current accounts from Barclays, HSBC, Santander, Nationwide, First Direct and Halifax were also tested.

Which? chief executive Peter Vicary-Smith called on banks to "drastically" improve their terms and conditions.

The study was carried out as part of the Big Change campaign, which is calling for banks to work for customers, not for bankers.

Big Change demands banks put customers first, not sales, and for bankers to be punished for mis-selling (PPI claims, for instance) and bad practice.

Jennifer Haines

Jennifer's speciality knowledge is credit card changes and balance transfers.ADNFCR-2776-ID-801492521-ADNFCR

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