banks increasing charges by Finance News Bulletin

Published: 16/01/07

Banks and structure societies have increased charges by up to 20 per cent on average in the history three yearsAccording to a new account released by Defaqto, average penalties for bounced cheques, unpaid standing instructions or direct debits are now more than £30 compared to around £27 in 2003The group believes that monetary providers will move to charging accounts for all clientele and could also introduce fees for clientele who use their accounts a lotDavid Black, Defaqto's head of banking and author of the report, said: "There are significant management costs involved in providing a current explanation service and the providers must not only cover these costs but also provide a edge for profit

"Someone has to pay for the service, and in the case of accounts where banks do not accuse a fee, it is those customers who go in debt and/or incur default charges," he additionalTerms of use Advertising capital Product guides Press releases About us

Visit original article: