If you believe that there is no such thing as a free lunch, then you will certainly think the same is true of a current account from a bank. The majority of customers do not pay a fee to their bank for the right to open and maintain a current account, but they are charged in other ways. Interest rates are lower than the levels offered with savings accounts or official rate set by the Bank of England. Charges are levied for going overdrawn without permission or for making certain transactions. Is this method of charging stifling competition and making it too confusing for customers who might consider shopping around for a bank account on the basis of price? Or is it an acceptance that, unless they are offered added extras, customers have little appetite for paying a monthly fee to a bank for keeping their money safe?...Read more here--: BBC News - : Good thing or barrier to competition?