After recently announcing its takeover bid of 620 Lloyds branches, our preferred bank for basic bank accounts, the Co-operative Bank, has offered some good news for its current customers with the revelation that it won't be charging interest on unauthorised overdrafts for the first 3 months of 2012.
The emergence of the Co-op as a significant challenger to bigger high street banks was welcomed by Which? chief executive, Peter Vicary-Smith, who said: 'If people are to get a better deal from their banks we need greater competition, which means an effective challenger on the high street.
'People tell us they like the Co-operative Bank and we think they can teach the other banks a lesson in good customer service.'
