Free banking to end?



Everyone else shafts us with no recourse, might as well. Surely their payment is then charging higher interest rates to borrowers than they pay the people paying in.

Greedy tossers
 
As long as cash still exists we will be able to store that ourselves for free. Of course it may not be usable in society for much longer the way things are heading.

I don’t really object to the banks charging some fees, but equally if they want to borrow my money and loan it to other people or invest it to make their profits they need to give me a decent interest fee for that.
 
It's in part a function of the cost of keeping physical branches open across the country, which are loss making.

Forced to keep some of them open so have to recover the cost from somewhere.
 
RTGAdmin said:
I don’t really object to the banks charging some fees, but equally if they want to borrow my money and loan it to other people or invest it to make their profits they need to give me a decent interest fee for that.
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Why change the habit of a lifetime ?

Not going to reduce their margins anytime soon.
 
Given the way they desperatly fight for your custom by offering pretty decent bribes to switch, I can't see them doing a 180 degree turn on this. Add in the amount of new fintech banks and how easy it is transfer your cash out to new bank if you're not happy

What will likely happen is what some banks currently do, is charge a fee if you don't meet certain conditions ie pay x amount in, have x DD's set up etc to ensure you're using it correctly. Banks do make a few quid out of current accounts due to many folk (mainly older) who keep significant sums in them & that they don't pay interest
 
The threat to free banking has always been how banks use our cash to make investments. If they’re banned from doing this, they’ve always threatens a charge. If they start charging I hope the gov/regs stop them investing current account money.
 

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