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Its about time it became normal in the UK for accounts to carry fees. I dont know how retail banking can continue without them. Esp the new fintechs they will h
by u678u 6y ago
Its about time it became normal in the UK for accounts to carry fees. I dont know how retail banking can continue without them. Esp the new fintechs they will have near-zero revenue coming in and have to pay to hold cash.
- syntheticnature 6y agoNegative interest has to deal with lending (and savings) base interest rates, not as a fee per se, but as a tool of monetary policy.
- robertnn 6y agoWhy? Many banks are already making lots of money, regardless if you know how they make their money or not. I definitely do not agree that "its about time" to pay for having an account.
- u678u 6y ago> Many banks are already making lots of money I think you mean some UK banks made money before rates went negative. The ones that made the most are in corporate and investment banking. Retail is a disaster zone.
- LatteLazy 6y agoBanks' investment/trading arms get substantial tax breaks and one condition is that they have a certain number of UK retail accounts. That's it really.
- jaywalk 6y agoIf you go to your local branch and ask to pay some fees, I'm sure they can find a way to accommodate.
- u678u 6y ago> If you go to your local branch I dont even have one any more. And I imagine most will be shutting down very quickly now.