While consumers do not necessarily pay money to hold a Current account with a bank, they are rarely free.
That is according to Which?, the magazine for consumers, who conducted new research into the cost of banking for customers.
Its experts found that banking is not free due to high overdraft charges, low interest rates and charges for spending money abroad, which can all add up.
People who hold a Current account with Santander for example may be spending as much as £1,140 a year on unauthorised overdraft charges.
These charges occur when a customer goes over their overdraft limit on their account without permission from their bank or if a direct debit cannot be made as the funds are not available.
Santander is not the only bank that has overdraft charges. First Trust charges £185 a year to customers who use a £200 authorised overdraft for just six days a month.
On the other hand, Coventry BS does not charge anything for a £250 overdraft, which shows there is disparity between banks.
Therefore, it may be useful for a customer to compare banks in order to find the best Current account for them, especially if they are likely to be overdrawn often.
Peter Vicary-Smith, Which? chief executive, said: "The complicated ways banks present charges makes it difficult for people to work out whether they're getting a good deal."
Even those who never go into the red could end up paying money for using their cards abroad, which could amount to £57 a year.
Low rates of interest also mean that customers are not getting the most out of their current accounts in the current economy.
In a recent Panorama programme for the BBC, it was found that customers who go over their overdraft without permission could face charges of 167 per cent a year.
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