The end of free banking? Customers face charges for accounts

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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.

express.co.uk

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