Ya can't have it both ways. Suppose "free banking" relied upon debtors paying high overdraft fees. Take that away, and "free banking" goes too. No more free cash withdrawls and plenty of bubbly at the shareholders meeting. Do you work for nothing qed London? Of course not. Why should the banks.

Lang, London,

The banks are increasing their fees to recover the sub prime rate losses.. The banking system is an evil system that controls our lives. Interest rates and fees fluctuate greatly destroying long term planning for families and businesses. A nationalization of banking could be an alternative.

Jim Wills, Brisbane, Australia

All I will do is switch to a non fee-paying account & (as I presently do) never go overdrawn. Simple! OK, not for everyone but if you have a current account paying 0.1% interest, your bank is already making your money shrink in 'real terms'. They couldn't justify fees on top of those accounts

Alistair Kipling, Birmingham,

Banks maximise profits, otherwise, who would invest the money that they lend out? Considering that most of our pensions are invested in equities, I want them to chase profits!

Time for the 'Victim Culture' in Britain to end. "Aww, it's the big bad bank's fault that I can't manage my own money".

Billy Spleen, London, UK

Why can't the OFT or the courts tell banks to do like so: if a customer makes a transaction that would exceed their available balance or credit/overdraft limit, simply deny the transaction instantly, automatically, there and then. No cost to the bank, no cost to the customer. Nobody thought of that.

Dino Mavridis, Manchester, UK

Does the OFT care about people or does it just like taking on big industries? Remember when credit card companies were challanged about it's charges they put up interest rates by 6%!

Please OFT keep your nose out of things, unless you start thinking of the consequences for the masses!

Jason Day, Bury St Edmunds,

My advice is: walk away. If your bank raises fees, change the bank. Take your business away.

I thought that UK was a market economy, but it seems to be an economy based on monopolistic profiteering. There is no competition. Public services are licensed for private profiteers. Where is the market?

qed, London,

20% ??

I received an account charges revision notice from NatWest (RBS) recently and many of their individual item charges have doubled that's a 100% increase, not 20%

Good job there are many value banks to choose from. Goodbye NatWest.

MikeS, Leeds,

If Asda, Sainsbury's Tesco and Morrisons simultaneously announced similar price rises on key products; with no apparent change in the input (wholesale) cost; we would suspect collusion.
The OFT must have another good long look at the High Street Banks.

Graham W, Congleton, UK

Time for the big UK banks to be split up - this would increase competition and reduce costs.

Time the competition commission acted. The USA has thousands of banks yet in the UK we only effectivly have six.

As long as the oligopoly is in place consumers will be fleased

John, Twickenham,

In the latter 1980's the banking community in the UK saw the emergence of Building Societies as "Banks." Customers saw the transaction delay extended from three working days to process transactions increased to five working days. No cus. service and no service futl stop - A oligarchists community.

Shaun, Canterbury, UK

I am discuted with Lloyds tsb because 2 weeks ago I went £39 overdrwawn and they charged me a daily fee of £15 and a monthly fee of £15 so I ended up after a week paying £90. its a discrase it should'nt be alowed.

steven, bridgend, wales

It's becuase we took away them extortune bank charges, they did warn they would do this.

At the end of the day, we put the money in the bank and they, the bank, makes profits off of your money by investing it.

They are just greedy elites trying to push us further into credit crunch.

Andrew T, England, UK,

Nat West is ruthlessly punishing customers right now. Accidentally exceeding overdraft limit will cost you hundreds of pounds if you have direct debits. It's about time this bank was renamed... NAT THEFT!

Martin Fluck, London, UK

These accounts didn't 'represent value for money' anyway, as most of what they offer is cheaper, or free, elsewhere. So if you have one of these accounts change to something else..

David Leslie, Perth, Scotland

This is discusting behaviour by the banks. The credit crunch has effected individuals as well as the business market and increasing fees on accounts merely aids the business pocket but deepens the consumer's problems.

Rebecca Wardle, Nottingham,

Consumers have choice - you dont have to pay a monthly fee. (Dont tell me its difficult to change accounts I've done it a couple of times over the past few years).

There are remarkable differences in the accounts on the market. Of course the banks will just raise charges elsewhere.

Clive, Milton Keynes, England

Well done OFT, ensuring all those incapable of managing their finances and then whinging about the clearly stated penalties can do so with impunity. Now we, who have played by the rules, pay the price. The OFT, friend of the profligate and stupid.

mike gee, bournemouth, uk

The banks will be forced to become more realistic wether they like it or not. This ought not to include "Making more money".

I urge everyone to use their power as a consumer to directly show these dangerous institutions just how much money we think their so-called services are worth.

Henrik Jonsson, London, UK

It was obvious from the start that this is what would happen. The banks provide a service. It costs. They charge. We pay.
Formerly the paying was done by people who took our money without showing any ability to repay. Now they can take it for free, and WE will have to pay for THEM.
Thanks OFT

Richard Cooper, Dunstable,

The banks should be broken up, there should be increased competition in the most profitable retail banking sector globally.
If one party were to make this a policy pledge they would surely win by a landslide?!
The banks are the cause of this mess, why should they get away with this?

Nick, Henley On Thames,

After decades of bemoaning the plethora of huge fees levied by the main high street banks. and watching them declare ever soaring profits, the penny eventually dropped. Leave your PLC bank! Simple. Because PLC banks' No:1 priority is always to increase its profits - through you. Don't whinge; leave!

Richard Sullivan, London, England

The robbers have ALWAYS been in charge of the banks.

phil, London,

Surprise Surprise.

Not happy at £111 per second profit they make from the consumer,(recently reported on this site) they legally pilfer more and more from the consumers pocket.

Wouldn't surprise me if the Government don't pick up the tab anyway.

Seems to be par for the course

Louise Hardy, Mirfield, West Yorkshire,

Victor, Good thing you are not the Emporer, or we'd end up with an economy as dire as that of France (10%+ unemployment, no chance of a decent career unless you went to one of the Grand Ecoles, constant strikes, dog poop in the streets).

John D, London, UK

But Victor is not the Emperor! Perhaps it is the likes of him that is why we don't have an Emperor. But neithe does France or Cherbourg

William, London, UK

Are the robbers now in charge of the banks.
No regulation exist for a service that most of us can't live without because our employers do not pay in cash. Then companies like BG charge extra for people not using direct debit.
It is just grand thief with the blessing of the government.
Total rip-off

lauren, London, Uk

Banks do NOT have to "look for other ways of making money." They need to accept that lower profits are the future and the norm, if they wish to stay in business. If I were Emperor, I would limit all profits by all businesses to 5% and interest rates on loans to 2% maximum.

victor compton, Cherbourg, France