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Attendees at PCBS panel oppose bank charges

When asked whether bank charges should be levied against them for owning a current account, customers at a meeting held by Which? opposed the concept.

Many attendees to the event, which contained a panel from the Parliamentary Commission on Banking Standards (PCBS), were shocked to find out that they are already paying for their bank account through high overdraft charges or lost interest.

This is despite the fact that free banking has been called a "myth" by Which?, as well as by chairman of Barclays Bank Sir David Walker.

Following in the wake of the payment protection insurance scandal, it was also not a surprise that attendees at the PCBS panel meeting criticised banks for trying to sell people products that they do not require.

"Consumers' best interests must be at the heart of reforms to the financial sector to prevent the public suffering from further mis-selling and scandals," Which? executive director Richard Lloyd said.

Jennifer Haines
Jennifer's speciality knowledge is credit card changes and balance transfers. ADNFCR-2776-ID-801456459-ADNFCR

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