No Charge Banking Accounts? Is it really Free?
Is Free Banking Accounts really Free?
The answer is no as even though banks are not charging you to use your account when you are in credit, they make their money by offering you a really poor interest rate. On an average bank account you are losing £80 a year on interest alone on a free banking account which you are giving to banks for free. By changing the way you operate your account you could make your money work harder for you by simply setting up an online savings account and and then set up a regular transfer order in to that account. With you controlling the amount you can manage your funds to suit your needs and earn a better interest rate.
Prepaid credit cards that offer the facility of telephone banking where the prepaid card company will answer all your questions
With the average person keeping a bank account for 10 years there could be a number of reasons why you have chosen to switch your bank account, whether it is down to service, convenience, better interest rates or more for your money. A great way to find great deals on the the best providers in the market is use compare bank accounts. We are getting better at switching providers for things like electricity, insurance and mobile phone networks where we shop around to see how we can get more for our money or a better deal but when it comes to bank accounts we tend to stick to what we know and this is the top four banks –Barclays, HSBC, Lloyds Banking Group and Santander, which control more than 70% of the market and some banks are providing you no interest returns on your money and uncompetitive authorised overdraft rates.
With banking providers looking after more than 54 million current accounts in the UK, and the average of six out of ten adults that have never switched their current account makes it big business for the banks especially with accounts on offer such as free banking.
Free Telephone Banking with Prepaid Cards
Compare bank accounts is constantly being updated so you can see which bank account or saving account is best for your needs, with the new interactive review centre which allows you to write about your banking experience and rate your current banking provider. Still not sure read reviews and comments posted by other consumers which may give you a better insight to the level of service you will receive.
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