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The different terms used can make it tough for consumers to compare accounts, the report found.
Findings compare accounts and learning results from different versions of the course, when new resources were gradually inserted.
The watchdog has rejected these ideas, which include setting up a comparison website, establishing new account opening standards, and making it easier to compare accounts.
Savers find it difficult to compare accounts and switch providers, the Financial Conduct Authority said in its analysis of the £700bn total savings markets.
Compare accounts using a site such as money savingexpert.com, focusing on things like the interest offered and overdraft facilities before looking at the freebies.
Consumer Focus welcomed the move to increase transparency across retail banking products, but Sarah Brooks, director of financial services for the consumer organisation, said: "Unless the Financial Conduct Authority (FCA) is given the powers to tackle the use of unpredictable and unfair charges, consumers will continue to lose out and find it difficult to compare accounts.
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findings, saying the banks already help customers to compare account charges.
"I like vegetables, so I wouldn't compare accounting to eating your vegetables," Witherspoon said.
Moreover, it is inappropriate to compare accounting returns with a cost-of-capital estimate that reflects the economic, cash-flow returns demanded by investors.
But while their documents are shorter, the report found, credit union disclosures often don't include information that would allow a customer to compare account fees, terms and conditions.
I'm interested in comparing accounts of Palestinian and Israeli psychologists because they are often very different.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com