End of free banking

artha

Dylanwing wrote: »

They will probably do a few packages with discounts to encourage customers to use other services, and maybe Nationwide should only allow free transactions abroad if £x salary is deposited monthly.
Regarding the OFT case, many years ago I was hit by spiralling charges, whereas now my account is well-maintained, so I have been on both sides of the argument. My preference is definitely to reduce overdrawn charges and make everybody pay, as the overdraft fees have been effectively subsidising free banking.

I would agree although it may cost me money personally. As I am aged 58 and in a reasonable position financially it wont hurt me that much and I would rather see those who are in financial hardship not paying excessive fees by my paying an affordable monthly fee.

At the moment it would be cheaper for me as my daughter is in financial difficulties and is paying massive bank charges. I end up paying for these and would prefer to pay 5-10 pounds a month rather than the several hundreds of pounds each year to keep her solvent

RayWolfe

artha wrote: »

At the moment it would be cheaper for me as my daughter is in financial difficulties and is paying massive bank charges. I end up paying for these and would prefer to pay 5-10 pounds a month rather than the several hundreds of pounds each year to keep her solvent

Yea, but it wouldn't be cheaper for me to start paying for your daughter, would it?
:rolleyes:

opinions4u

artha wrote: »

I would agree although it may cost me money personally. As I am aged 58 and in a reasonable position financially it wont hurt me that much and I would rather see those who are in financial hardship not paying excessive fees by my paying an affordable monthly fee.

At the moment it would be cheaper for me as my daughter is in financial difficulties and is paying massive bank charges. I end up paying for these and would prefer to pay 5-10 pounds a month rather than the several hundreds of pounds each year to keep her solvent

Why don't you pay to bring her in to credit, clear any outstanding charges, give her a £250 "float" and tell her "no more now"?

That would give her the opportunity to build up her own financial independence. Possibly by using a basic bank account?

If kids know that parents will always offer a safety net, they'll not take responsibility for their own finances.