The end of free banking? Customers face charges for accounts


Ross McEwan, chief executive of the Royal Bank of Scotland, said charging all customers fees to run their accounts would bring “transparency” to a system that currently sees many slapped with hefty hidden costs.

Mr McEwan insisted his taxpayer bailed-out bank had no plans to bring in charges but that was the way the industry was heading.

He said: “I think ending free banking is something that will be addressed in the market place.

“It’s not something that’s on our minds at the moment. But I think that is where it is going to end up longer-term in this industry, as customers realise they are going to pay for it in some shape or form.

Published in: on March 4, 2014 at 18:02  Leave a Comment  
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