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The Court of Appeal is continuing to hear the case between the Office of Fair Trading and the UK's leading banks today (October 29th), about whether or not charges for going overdrawn are fair.

Commenting on the practice of banks charging customers for unauthorised withdrawals, Which? chief executive Peter Vicary-Smith, says: "It's extremely disappointing that instead of looking for ways to make their customers' lives easier during these difficult times, the banks are piling on the misery by continuing to hit them with unfairly high unauthorised overdraft fees."

Such news may persuade some to consider paying for large investments with a loan, rather than continuing to tot up bank charges for not having enough money in an account.

Meanwhile, Sainsbury's Finance has found that 13.26 million Britons said that they had a combined total of £165 billion in accounts which impose penalties for taking out the cash.

Rather than face costly bank charges, people may want to pay for projects such as adding an extension or paying for a wedding with secured loans.

Such loans may have a lower annual percentage rate than others, which could result in lower monthly repayments.