The Weekly Gripe

First Direct kill free banking with £10 monthly charge

The end of free banking

No more free banking

If your account is on average in credit by £1,500 each month or you pay in £1,500 or more each month then the fee will be waived. In other words, the rich get richer and the poor get poorer.



Is the notion of free banking about to become a thing of the past then? I certainly hope not, because I think that the major banks such as First Direct make enough money out of us as it is.

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Posted Comment Visitor
12-6-2008For those that think that free banking should not be free. Evidently you don't know what a bank is and where banking comes from. The history of banks is rather controversial and dirty. They make a lot of money using your money that's why they should not charge you. Banks are not human, the...moreSuperBambinoCattivo
12-6-2008There is no such thing as free banking, just different ways to pay for it. If you don't like First Direct's way of charging for it, find another bank that suits you better and stop whining about why you should be geting something for nothing. I personally think that this introduces more choi...moreDarren
12-6-2008There is no such thing as free banking, just different ways to pay for it. If you don't like First Direct's way of charging for it, find another bank that suits you better and stop whining about why you should be geting something for nothing. I personally think that this introduces more choi...moreDarren
19-5-2008Why should we get free banking? Most of us have small amounts in the bank at any one time, write numerous cheques, pay numerous D/Ds and S/Os and still expect free banking! I'm more than happy to still get it free but what planet are the banks on if they still want to provide this and why ...moreJohn Exeter
14-2-2008If 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.Maz
12-7-2007MORGAN 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 multiple...moreAngry young man
13-1-2007this 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 ...moreBennit
21-11-2006Good 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!Pensioner
20-11-2006Banks 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 ...moreFree Banking forever
18-11-2006Well I will certainly be complaining and I will then switch my account to another bank.HD
18-11-2006Well 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...morePensioner
18-11-2006Personally 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.drew



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