Wednesday, November 15, 2006

Are we being softened up to pay for the Banks mistakes ?

Today First Direct radically ditched its image as an efficient operation that cut costs by having no branches by charging an account fee of GBP10/month under certain circumstances. ( The low paid and students are going to be hit hard. )

Earlier this week I heard on the radio that credit card fees may be back.

Are alarm bells ringing in the Banks about debt ? Rather than cover their own mistakes out of share holders profits the plan is to fleece their customers for their own failures.

Be prepared to move your bank account very soon !

( In Man in a Shed's business a very similar move has just been made by Bank of Scotland charging a GBP15/month fee. )

To be fair perhaps bank account have always cost this much, and its been hidden from us. But I'm a bit skeptical - as you'll have noticed.

1 comment:

Anonymous said...

The thing is, they have us over a barrell. It will mean people cut down on their cards, I can never understand why some people need about a dozen or so different credit cards.