Would you change banks

  oresome 19:26 15 Nov 06
Locked

if yours introduced a £10 monthly fee?

Or is it money well spent?

  GANDALF <|:-)> 19:28 15 Nov 06

I already pay more than that at Barclays for their Additions Plus account and have done so for 3 years.

G

  mammak 19:30 15 Nov 06

No I wouldn't I have been with RBS for so long it wouldn't feel right changing I am more than happy with it fee or not.

  Kate B 19:32 15 Nov 06

It would depend on what it did to other charges and to interest rates it paid/charged. I don't object in principle to an upfront fee, it's more transparent, but there are plenty of products to choose from and it would encourage me to look at what else is out there.

  WhiteTruckMan 19:36 15 Nov 06

This really, really infuriates me. It will have an impact on the poorest members of society. where one bank goes, others usually follow. and it was this government that introduced the requirement for a bank account to have benefits paid into. The people who can least afford this will be the ones who will have to pay, and pay most as a percentage of their income. To those who would say that banks are a commercial institution who have to make money (for shareholders) I say codswallop!!! Banks make huge profits already, and apart from outright fraud, when was the last time you heard of a bank going bust. And to the argument about this country being one of the few (if any) to have free banking-Well I for one dont care a bit about what banks in jonny foreigner land do to their clients. My concern is for what goes on in this country. And its just one more millstone around the necks of the poor.

WTM

  Forum Editor 19:39 15 Nov 06

to provide a decent, comprehensive service for nothing. As Kate says, an up-front fee, by virtue of its transparency is preferable to 'free' banking that isn't really free at all.

As cheque-clearing times reduce, banks will feel the pinch and they'll look to claw back revenue in other ways.

  lisa02 19:42 15 Nov 06

£10 fee is quite reasonable for what services I get. If my bank introduced it I would not complain... They have been extremely good in comparison to my last bank where I was charged extortionate fees!

  Forum Editor 19:45 15 Nov 06

Please try to enter the real world on this. You may well say 'codswallop' to the suggestion that banks - like other commercial operations - should seek to make profits, but that's probably because you have never run a business yourself.

If you have (run a business) forgive me - but if that's the case I'm astonished that you don't realise that in a commercial sense banks are no different to any other business.

  WhiteTruckMan 19:49 15 Nov 06

for a basic account to recieve benefits it. Anyone who thinks it is has either never been poor or forgotten what its like to watch every penny!

WTM

  lisa02 19:51 15 Nov 06

This £10 fee according the news can be escaped if you take out a savings account and shove a quid in it. Take the CC that you don't have to use or leave app£1500 in the account or have that paid in each month.

WTM can dole bludgers afford a savings account with a £1 in it?

  lisa02 19:59 15 Nov 06

As for them forced to have bank accounts they can use the Post Office.

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