Free Banking in UK Set to Change
There is still a lot of controversy about bank charges in the UK. It is thought that many people may move banks if annual or indeed monthly charges are enforced to use their services.
The banks feel that charges maybe necessary if they are not able to charge high fees for overdrafts.
Free Banking
This means that the long established (1980) “free banking” may well go out of the window. People who constantly stay in the black do not usually incur any fees and the banks are able to subsidise this by charging those people that go over their overdraft limit.