Free Current Accounts

30May08

Free Current Accounts?

With the recent high court ruling that certain bank charges are unfair, are we going to see the end of free banking? As thousands of customers consider putting in claims for overdraft charges, the main banks are looking for ways in which to maintain their profits. Without charges the bank’s business models will need to change to find another way of making money.

Amongst all this consumers are getting concerned that they may well see the end of free current accounts. Some people would rather see charges levelled at those who go over their overdrafts rather than at everyone! There are however still free current accounts available;

First Direct offers a current account which gives you a £100 bonus. This is dependant on certain criteria including a minimum monthly pay-in. More information here.

HSBC do not charge for their current account. They also have a range of other accounts including a ‘green’ bank account.

Alliance and Leicester’s current account is fee free as long as you do not exceed your overdraft.

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