Thin End of the Wedge

I’ve been mostly happy with my bank, First Direct since I started banking with them about seventeen years ago. So it’s a bit disappointing to see that they are the first bank to break ranks and start charging certain customers for banking with them.

Under these new rules, it looks like I won’t be charged for my accounts as there’s plenty of money moving through them on a regular basis. But I wonder if they’re just testing the water and are hoping to extend the charges before too long. And I bet that the other banks are watching closely. If this is a success (or, more realistically, if it’s not an abject failure) then other banks will be following soon.