Free Current Account Banking Under Threat
Free current accounts could be coming to an end
10th April 2006
Free personal banking in the UK could be coming to an end, banking insiders say, as Britain's biggest banks consider introducing charges.
The plans, which have not yet been made public, are said to be in response to the recent ruling on credit card charges which could end up costing the industry £1bn a year - or much more if the same decision is applied to other late payment charges for mortgages and loans.
The UK is one of the few countries in the world which doesn't make routine charges for the operation of a personal current account.
Read More: Money Guardian : Banks threaten end to era of free current accounts
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