Article in today's Times.
Graham Beale, Nationwide?s finance director and chief executive-elect,
said: ?In an ideal world, if you look at the costs [of running current
accounts], we?d be sharing some of that cost with those people enjoying the services.?
Mr Beale said: ?In the medium term, I wouldn?t rule it out.? It was ?inevitable? that banks would want to recoup some current-account cos ts, he said."
...
"HSBC-owned First Direct plans to impose a £10-a-month charge on curren t account customers putting less than £1,500 a month into their accounts.
Mr Beale appeared to favour a different charging structure, suggesting that it was people using their accounts the most, by volume of transactions, who should be bear the cost. However, he said that there were no immediate plans to introduce charges." [quote ends]
As one of thousands of people who moved over to Nationwide because I was
sick and tired of being ripped off by my existing bank, I view this as a
really cynical move. Hardly "Nationwide - proud to be mutual". That's of
course if it's true and not Mr Beale being quoted out of context.
Is this genuine or merely Times spin?