Free Banking Means High Charges Elsewhere
Published / Last Updated on 24/11/2011
Free Banking Means High Charges Elsewhere.
According to Andrew Bailey, director of UK Banks & Building Societies, the false belief of free banking has led to the pricing of retail banking to be distorted and believes that consumers should be offered a transparent alternative.
Mr Bailey has given a speech today at the Future of Retail Banking conference and commented that there is no such thing as free banking, what it actually means is charges are being levied inconsistently across products supplied by banks, with the outcome that some appear to be free. He believes consumers should be given what they want at a fair price which is clear to them.