Co-op Bank Adds Monthly Fee
Ethical bank introduces increases charges on its credit cards
14th September 2006
Holders of certain types of credit card issued by the Co-op Bank will have to pay a monthly fee starting in November.
The fee of £2 per month will be levvied on the bank's Platinum Base Rate Tracker card, which features a standard rate fixed at 4% above the Bank of England Rate.
The cost of cash withdrawals will also be upped from the current 2% to 2.5% (minimum £2.50).
A spokesman for the bank said that 'several external factors' had prompted them to review their credit card range, and presumably the recent slashing of late payment charges across the credit card industry was at least partly responsible.
Read More: This is Money : 'Ethical' bank to bring in a credit card fee
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