Good ol' First Direct

[Kahnee]

Charging you to look after your money

 

First Direct will become the first leading bank to charge its customers for a standard current account, it has announced.

The bank will charge customers £10 a month to hold a current account unless they deposit or maintain a balance of at least £1,500 a month, Chief Executive Chris Pilling confirmed.

Defending the move on BBC Radio 5 Live tonight, he said: "I would contest whether it is the end of free banking as we know it."

He said the bank enjoyed the "upper end of the demographic profile" in its customers, of whom 15% will be affected by the charge.

He added that there were measures customers could take to avoid the charge.

[RP]

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[smokescreen]

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[Stevie H]

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[Kahnee]

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[Lou]

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