The chairman worries bank accounts are just the start
Banks and building societies will next month launch a new current account switching service for consumers and small businesses, which will allow them to switch their accounts more easily, the Payments Council has said.
The Financial Services Authority (FSA) is to instruct banks to charge for current accounts, according to a report by consumer group Which?.
The Financial Services Authority (FSA) has proposed a new set of rules to ensure banks and building societies check customers are eligible for insurance products before selling them packaged accounts.
Just half of people who pay to use banks' current accounts because of the perks offered ever make use of the add ons, a poll has suggested.
The FSA has investigated packaged accounts sold by high street banks and forced at least one bank to refund customers after mis-selling.
Banks are increasingly targeting their current account customers with special deals on other products including mortgages, according to Defaqto.
HBOS has blamed a "technical error" for incorrectly debiting the current accounts of around 7000 of its mortgage customers up to three times in as many days.