The end of free banking

If the OFT is successful in their test case and proves the bank charges are unfair (which they arenn't) then there will be no free banking for anyone because of the amount of money greedy consumers will claim back in compensation.

MORGAN STANLEY have introduced a £20.00 annual fee for their platinum credit card with effect from 1st June. They are hitting existing customers first so do not show this on their web site application page. Be careful if switching elsewhere, you can only claim any cashback due in exact multiples of £15.00.

What a rip off!

this scum have the God given right to create fiat money on computers and charge interest on it. With that alone a crime they go on to rape the public again with more charging.
We can collapse this Bank simply by closing our accounts and moving to a fairer Bank.
We the people DO HAVE THE POWER, if only we would exercise it instead of just talking about it. All the data you ever need about Banks in in the book "Human Ecology" by Thomas Robertson. Hard to obtain for obvious reasons. I think Blooomfield books in sudbury suffolk still sell it mail oder.

Good for you. Let us hope that all the other First Direct customers do the same and not only show them what will happen but show other banks what will happen too if they get greedy. Well lets face it their profits are already sky-high!

Banks and mortgage lenders, we need them and they know that they have us over the proverbial barrel. We should vote with our feet and chase down free banking to the last bank.

To be fair to First Direct, I know several people that use them as a secondary bank account and they are only trying to keep down their overheads. I can see both sides. But my loyalty lies with the customer I'm afraid and yes - I voted with my feet and shut down my account!

Well I will certainly be complaining and I will then switch my account to another bank.

Well so would I..NOT. You can avoid hidden charges- e.g.Overdraught, but no-one could avoid monthly charges, and it would be no good trying to change to another bank, Mark, if they all followed suit! I would have to change back to drawing my pension from the post office - oh I hate those queues, and besides that...they are closing a lot of post offices!

Personally I would rather pay monthly fees than have bank fees. Unfortunately banks would rather have both. In the end, I would gladly pay a consistent, fair monthly fee to a bank than have hidden charges every time I want to do something, which is what REALLY drives me mad.

Is anyone suprised at the endless greed of banks? It's only a matter of time before all cash points are charged. The only thing to do is if your bank start(and they inevitabley will) with this nonsence, then comlpain and then switch banks...far too many people in this country are content to do nothing and put up with anything that's thrown at them...Do something about it!

Well yet another kick in the teeth for the pensioners! We were given the choice of having our pension paid into the post office or the bank and obviously the bank is more convenient. But now we might have to pay £10 a month on top of the rediculous rises in fuel charges and the Council tax. The poor are surely getting poor! More old people will die...and this under a labour government!