Bank Charges

[Mike]

They can be really reasonable to be honest. I bet the problems arise when you get into money troubles and bury your head in the sand!

[Mike]

Lizzie and I were talking earlier about the 5 day money transfer between banks. Ironically there is a news article about it today that suggests banks make about £30 million a year from this transfer window. This article highlights that some banks are signed up to improve this transfer time to 1 working day. Impressive but I wonder if this will actually lead to charging for bank accounts as the £30 million will need to be recouped and I am sure it goes some way to offsetting the administration cost of your accounts.