First Direct (HSBC's online banking arm) is to charge Current Account customers a fee of £10 per month if they do not deposit £1,500 per month or maintain an average balance of £1,500. Other banks could follow suit to recoup money lost as regulators clamped down on fees in other areas.



The £10 fee will be charged from the 1 February 2007, if the only product held with First Direct is a Bank Account or Cheque Account and if paying in less than £1,500 per month or maintaining an average monthly balance of £1,500 or less. The banking fee will be charged monthly in arrears, so the first charges will be debiting accounts during the month of March 2007.

How to Avoid paying the £10 monthly fee
All is not lost for First Direct customers, as there are ways to avoid paying the monthly fee, even if you do not maintain a balance of £1500 on your current account.by taking out another First Direct product.
Home or Car insurance
Flexi loan
Credit Card - Do not need to use it
Savings or esavings Account - Can open with just £1, and is probably the best way to avoid the charge,
First directory
Mortgage

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Hmm, nice advice there. But i don't understand if they are not going to charge you, how are they going to let your overhead price go off? You haven't cleared that aspect in your essay