The four big banks are facing calls from the Consumers' Association to offer all their current account holders higher rates of interest on credit balances and lower rates on overdrafts.

The call comes on the same day that the chief executives of Barclays, HSBC, Lloyds TSB and the Royal Bank of Scotland told the Treasury select committee that they hadn't made profits at the expense of small businesses.

Forum Response: Consumers Association

Helen Parker, editor of Which?, told ePolitix.com: "It's time for the big banks to start showing an interest in their customers. We have already challenged people to switch bank accounts if they're feeling short-changed. Now we're issuing a direct challenge to the four big banks to improve interest rates and offer significantly better rates to their 25 million customers.

"Because most people don't switch, the big banks have no reason to change. But customers have the power to make banks take notice. So, if you're unhappy with your bank, vote with your feet and switch to one that offers a better deal."

Forum Response: British Bankers Association

A spokesman for the British Bankers Association told ePolitix.com: "Different people will want different things from their bank and you need to match the features of your bank account to what is important for you.

"The financial services market is hugely competitive and there are a lot of players offering a wide range of accounts all with different features aimed to meet a variety of needs. The BBA would encourage people to shop around to see what is on offer."