Payday Loans Lender speedeloans Says Borrowing Money Shouldn't Be Rocket Science
"I have long been a supporter of fair and transparent charging. Borrowing money shouldn't be rocket science, consumers should be able to easily see what credit will cost".--Gary Miller-Cheevers

HERTFORDSHIRE, ENGLAND, February 11, 2012 /24-7PressRelease/ -- Leading industry expert, Gary Miller-Cheevers, is backing calls for action over "complicated and exorbitant bank overdraft charges" following a report* which highlighted how customers using unauthorised overdrafts found it impossible to calculate and to compare charges between banks, due to complicated fee structures.

Mr. Miller-Cheevers, who is also CEO at payday loans company speedeloans, says: "According to the report, not even a Maths PhD student was able to correctly calculate the charges and fees related to an unauthorised overdraft with four different banks.

"I have long been a supporter of fair and transparent charging. Borrowing money shouldn't be rocket science, consumers should be able to easily see what credit will cost.

"With our service, customers can easily see how much the total borrowing will cost them in pounds, meaning they can make an educated decision as to the affordability, as well as allowing them to compare the cost with other lenders, easily."

According to the Which? study, many banks have expensive daily fees with one bank (RBS) charging GBP6 a day (equivalent to an APR of 2,190%) on a GBP100 unauthorised overdraft.

*Which? 17.01.12

Press Release Contact Information:

Gary Miller-Cheevers
SpeedeLoans Ltd
CEO
507 Centennial Park
Elstree, Herts
UK WD6 3FG
Voice: 0844 879 3199
Website: Visit Our Website