3 October 2006
uSwitch has commented on the forthcoming changes to Lloyds TSB's current account charges.
Nick White, head of personal finance at the price comparison and switching website, commented on the changes which would not be applicable to Premier or Platinum packaged account customers.
He said: "UK banks currently make almost £2 billion every year by issuing a total of 42.5 million charges on current accounts. Not content with this income, it seems Lloyds is making further changes that could significantly increase this figure."
Mr White said it was disappointing to see Lloyds showing preferential treatment to customers with fee paying Platinum and Premier accounts.
He concluded: "Surely there is a strong argument that many of the non-fee paying current account customers might not be in such a strong financial position as Premier customers. Customers who don't hold a Premier account should not be discriminated against because they don't pay £300 a year for the privilege of having a current account."
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