Confused.com rep offers alternative to paying current account interest rates

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Confused.com rep offers alternative to paying current account interest rates

A representative from Confused.com has told consumers they could avoid paying additional interest charges and fees by speaking to their banks when they are having money troubles.

Head of current accounts at the company Alessandra Quartucci explained that financial institutions can often arrange for temporary limit extensions, although it will often depend on each individual case as to whether it is possible.

In her opinion, the key to avoiding levies implemented by banks is to be vigilant, particularly when people know a direct debit is due to come out of their accounts.

"To manage the associated fees and charges, customers should keep a regular eye on their balance to avoid exceeding their limit or having low funds," she said.

Her comments follow the news that there has been an early day motion put forward by 107 MPs this week, which called for the government to introduce a cap on interest rates charged on credit.

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