Just as we predicted, banks and building societies are looking at ways of boosting revenue from current accounts in case they lose the court case on overdraft charges. This means some products are becoming less competitive. Kevin Mountford, head of savings recommends it’s time for consumers to act and make sure they are getting a good deal…

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Community

Interesting article. It could be the overdraft charges are actually just reflecting the credit crunch. The interest rates seem harder to explain but remember, we have had two recent rate cuts and it's unfair not to take this into account.

I personally think banks shouldn't pay any interest on current account balances. There really is no need and it's quite simple to open a savings account. It also gets away from the feeling that banks need an excuse to get money out of you because they pay credit interest on current balances.

Community:

Just as we predicted

_splutter_ _fume_ _cough_

"Just as we predicted" !!!!

What bare-faced chutzpah! The most astonishing chutzpah since that press conference in London where Woody Allen complained that the one thing he regrets about his relationship with his daughter is that his son no longer wants to talk to him!

I switched from Halifax to Coventry in December when Halifax changed its account. Overall I am very happy with the switch. Coventry has an excellent interest rate and easy online banking.Tho they didnt make a toally clean switch over and I had to deal with 3 direct debits myself, when they said they couldnt do them

3 things are worth pointing out to potential switchers.

1. I dont have a local coventry branch so paying in the occasional cheque is harder. I could post them but I actually pay them in to a small halifax account that I have kept open. I can later transfer the money online

2. You cant do everything online - making one off payments to individuals takes a phone call to set up. Actually I am now very happy about this as its an additional line of defence against fraud.

3. Coventry don't supply a cheque book. This is a minor but nevertheless important detail that neither coventry or this website alert people to. Occasionally one has to use a cheque as not everyone accepts cards. So this is another reason why I have kept my Halifax account open with a small deposit

On balance, given the great interest rate, this is a reasonable solution. But, if I had known about the lack of a cheque book I might have chosen another bank.

Martin

The reason Coventry don't do the things you quote is that they are a Building Society not a bank. BB

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Circumstances alters cases!!