do any Banks charge for unused current accounts

alexl

I just realised that I have an account with HSBC that I have not used for probably around a year and a half, after they charged me bank charges unfairly and dismissed my complaint.

When i say I just realised, what I mean is that I realised there is a possibilty that they may charge for non usage, as I dont trust HSBC as far as I could throw them. I think they are great if you want somewhere to put more than £50,000 savings as they will never ever go bust, but as a giant corporation I feel they lack a nice touch with customers.

anyway, is there a possibility that they will impose some non usage charge, and furthermore are there any other banks that do this? i am thinking forward to when my Alliance and Leicester high interest rate expires and i need to change current account. thanks

beverleyhills

Do you get any statements from the bank?

ShelfStacker_3

Not right now, no. Worst that will happen is you'll be plonked on a Current Account, where you'll only get quarterly statements. We don't have a non-usage charge. The only exception is if you're overdrawn at all, in which case leaving your account overdrawn without a credit (even by a small amount) is against the T&Cs and the bank will take action, although this is true of every bank.

A&L however will charge you if you don't put £500 a month in.

alexl

thats spot on thanks. Just one other question, relating to longer for current accounts in the longer term, is the Halifax High Interest account - does the interest rate on this fall after the year? I couldn't see any details on the halifax website..

alexl

oh and I dont get any statements from the bank actually, what does that mean? that they have closed the account themselves or is it simply a reflection of the fact that the account has neihter seen any money in or out for the past year and a bit

rb10

alexl wrote: »

thats spot on thanks. Just one other question, relating to longer for current accounts in the longer term, is the Halifax High Interest account - does the interest rate on this fall after the year? I couldn't see any details on the halifax website..

No, as long as you keep paying in £1k/month, it'll stay high interest. The rate has just fallen to 2.5%, following the recent base rate cuts, but all the other accounts will probably follow soon, so it'll still be 'High Interest'. It was over 6% for a long time until earlier this year, then over 5%.

ShelfStacker_3

alexl wrote: »

oh and I dont get any statements from the bank actually, what does that mean? that they have closed the account themselves or is it simply a reflection of the fact that the account has neihter seen any money in or out for the past year and a bit

Just that there's been no transactions, so there's no need to issue a statement.