[jambutty]

First Direct bank, owned by HSBC, is the first to screw their customers more than they already do.

The proposal is that a current account holder will be charged £10 per month just for having an account unless it contains a minimum of £1,500 or the customer takes on another of their services like a savings account or insurance.

First Bank’s comment, “This is aimed mainly at those accounts that are little used or dormant.”

Other banks are keeping an eye on the outcome.

In a word GREED has come to the fore.

The banks already pay us the smallest amount of interest that they can get away with but our money in their bank earns them far more than they pay us.

OK. I accept that they have heavy overheads in providing a banking service and have to pay the ubiquitous shareholders an annual dividend but this latest, “let’s fleece Joe Public some more” has more to do with First Bank maintaining their profit margins than anything else. If I had an account with First Bank, and I haven’t, I would switch fast.

I also heard the other day that Credit Card issuers are considering making an annual charge of £35 to help off set the fraud that occurs. With the interest that they charge they could afford to pay US £35 pa for using their Credit Card.

Maybe it is all my fault because in all the years that I have had a Credit Card I have never once paid any interest. I have always settled the account in full each month. So the bank issuing the Credit Card that I have, have never made any profit from me. Not one single red cent. But they have tried to force me into paying some charges from time to time by not sending me the monthly statement. If the statement hasn’t arrived 7 days after it is due I find out what the balance is and send them a cheque to cover the amount.