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Is it time to review your banking facilities?

The last few weeks have seen more and more UK consumers checking their credit card figures, their bank statements and other financial arrangements. However, less and less people are nowadays looking at the charges which their banking facilities are attracting, an area which has shown significant growth over the last few years. The ongoing situation with "illegal" overdraft charges would appear to have put the banks on red alert to introduce more and more charges in other areas of their businesses.

Credit cards appear to have been one of the major targets over the last few months as the financial sector looks to replace what was a significant income stream in the shape of overdraft charges. Even though the banks have not yet lost the case regarding overdraft charges, it would appear that the banking sector and customers believe the case will go against the banks. The billions of pounds in profits which it would take away from the industry will need to be replaced and yes you've guessed it, consumers will eventually pay the price.

While competition is maybe not as intense as it once was in the banking sector, there are still good services and good prices available if you look around. Just because you have dealt with your current bank for 20 years does not mean you need to stay with them for an additional 20 years!

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