The writing is on the wall in the UK for free-if-incredit banking. Several banks have recently mulled the idea of gradually ending this idea. The reason being they need to refinance themselves.
The Chief Executive of the Royal Bank of Scotland Group Ross McEwan said recently it was only a matter of time before “free banking” ended. The chairman of Barclays said two years ago that he agreed “in principle” with ending the practice.
Category: Business / Banking / Free-if-in-Credit Banking