End of free Barclays banking? New chairman says he agrees with fee based accounts 'in principle'

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5corpio started a blog post End of free Barclays banking? New chairman says he agrees with fee based accounts 'in principle'
12 August 2012, 15:43

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End of free Barclays banking? New chairman says he agrees with fee based accounts 'in principle'

Barclays' new chairman Sir David Walker plans to undertake a root and branch review of the way the bank operates, it was reported today. Sir David told The Sunday Telegraph he agrees 'in principle' with customers paying to use current accounts and the end of the free banking model. The Sunday newspaper also said that he branded recent mis-selling problems, such as interest rate swaps to small companies and payment protection insurance, as 'the consequence of not charging for bank accounts.'.....Read more HERE: New chairman David Walker agrees with fee based accounts 'in principle'

Previous on AAD Blog forums:

24th May 2012 - Free banking should end, Bank official says LINKY: Free banking should end, Bank official says - allaboutFORUMS

24th July 2012 - End of free banking? Free current accounts 'should go' so High Street banks stop mis-selling, warns Linky: End of free banking? Free current accounts 'should go' so High Street banks stop mis-selling, warns - allaboutFORUMS
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1 comment
- #1
  
  5corpio commented
  
  21 August 2012, 08:42
  
  Editing a comment
  
  High bank charges challenged by Which?
  There are large variations between banks in the cost of "free" current accounts, consumer group Which? says. Which? says that its analysis "shatters the myth" of free banking. It says the cost of going overdrawn without permission for two days a month costs from £120 to £900 a year. But the British Bankers' Association (BBA) called the report "disingenuous", and said customers could get free banking for accessing cash and making most types of transactions in the UK.
  'Disgrace'
  Which? says that even customers with authorised overdrafts can run up large charges at some banks, including RBS Natwest and HSBC, charging an annual percentage rate (APR) of 19.9%......Read more HERE
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End of free Barclays banking? New chairman says he agrees with fee based accounts 'in principle'

End of free Barclays banking? New chairman says he agrees with fee based accounts 'in principle'