Research from new multi-platform financial management tool suggests 'accidental' bank penalties are on the rise.

British consumers have paid nearly £650m in credit card and bank account penalty fees in the past year, according to research from the UK's first fully-secure, multi-platoon finance management service OnTrees. Nearly two million people have incurred a late payment fee or unauthorised overdraft charge in the past three months, which is a 29pc increase on the previous three-month period. An estimated 11 million, or 25pc, of the British population now have financial products with more than one bank. Three million have a current account, savings account, and credit card with different companies, which is causing the confusion driving the increase in shock charges. More than a quarter, or 27pc, of those asked cannot remember all the providers that they bank with, with two out of five being unable to recall the balance of their current account.....Read more here: Bank customers paid out £650m in penalty fees last year