They Want to Charge Us for All This Pain! ; the Banks Make Pounds 34bn Profit, Close Branches, Provide Terrible Service and Make Us Phone Call Centres in India. Now...

Summary

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THE decision by the upmarket internet bank First Direct to end free banking for a large slice of its customers marks a sharp break with the past for Britain's High Street banks.

Despite making stupendous profits of Pounds 34 billion last year, the country's banks have become increasingly concerned by what they see as the under-performance of their UK-based branch networks and creeping government controls on their activities.

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Extract

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They Want to Charge Us for All This Pain! ; the Banks Make Pounds 34bn Profit, Close Branches, Provide Terrible Service and Make Us Phone Call Centres in India. Now...

They are desperate to end free banking and, instead, introduce charges of the kind being imposed by First Direct - part of the giant HSBC group which is among Britain's richest companies, making profits of Pounds 7.6 billion in 2005.

In fact, of all the banks, HSBC - which traces its roots b...

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