Will Nationalised Banks Be Fairer On Fees?
As banks face nationalisation, a lot of people will be interested to ascertain whether bank charges will be improved upon, from a consumer perspective.
With banks still in court, trying to win the battle against bank charges, the situation looks ominous. They do not want to reduce charges.
Formerly it was a case of arguing that banks were on the make with these charges. an argument that loses its resonance in the face of pending nationalisation. With a government bailing out across the board, there has been somewhat of a paradigm shift, whereby the question that is now posed, is one in relation to government regulation meaning that charges become fairer.
Any restructuring in the favour of the consumer would indeed be welcomed, what with the general feeling of fiscal unease that the country is experiencing as a whole. If the government were to introduce a fairer system, then it would certainly get the prole back on side somewhat.
Of course the pessimistic view is that banks will take elsewhere, to recover what they lose in terms of charges. fees would be made relative to other areas of banking, and so the consumer will be in no better a financial situation. Therefore the charge war could be construed as somewhat superfluous.
It is a case for the average consumer, of having to look at the bigger picture. It is not nice to have banks charge you too much. But looking at the current banking crisis, it is not that great when they are making no money at all, either.