Is this the end of free banking?
Free banking is something we take for granted in the UK - but with banks in court over the legality of unauthorised overdraft charges some people are predicting that in the future we may have to pay for current accounts.
The logic is thus - if banks can't make money through overdraft penalties (bearing in mind these fees bring in around £3.5 billion a year) then they will make it elsewhere, possibly by charging their customers for the pleasure of looking after their cash.
So is the era of free banking in the UK coming to an end?
Should current accounts be free? Or would you be happy to pay for them?
Let us know your thoughts...