2006-12-05 01:25:52 · 8 answers · asked by RUTH D 1 in Business & Finance ➔ Personal Finance
In my experience if it is just an account fee you must have a packaged account and it is the monthly charge.
Packaged accounts usually include additional benefits to a regular account such as free travel insurance, discounts on loans and insurance products, preferential rates and deals on loans and mortgages. and lots of other things like free mobile phone insurance, free life insurance, shopping discounts etc. .
Alternatively you may bank wuth one of the banks that have introduced monthly account fees although I am only aware of First Direct doing this at the moment and it does not start until 2007.
If it was for an overdraft or unpaid item it would usually say overdraft fee or unpaid fee or interest charge etc.
If after reading these answers you are still unsure why you have been charged then contact your Bank and ask for an explanation. They have a duty to explain and justify any charges levied to your account.
2006-12-05 04:04:17 · answer #1 · answered by angie 5 · 0⤊ 0⤋
Most banks have started to charge a monthly fee.
however you must have agreed the charge otherwise the bank cannot take money from your account.
an account fee gives you some free stuff which i think is the way the banks make extra profit.
Barclays call it the ADDITIONS account and charge about £6-10 per month.
2006-12-05 01:33:44 · answer #2 · answered by **tomtom 5 · 0⤊ 0⤋
It could be anything from just having an account with them to an overdraft charge. Point is if your paying to have a bank account look for another bank there are plenty around with free checking and savings.
2006-12-05 01:33:57 · answer #3 · answered by Tapestry6 7 · 0⤊ 0⤋
Account Fee,
It is either because you did not show up enough times to get mistreated by the teller or you showed up to many times.
It was that you had to many transactions or not enough of them. You either took up their time to process the transactions or your account was so inactive that it costs them money to let it sit.
Who knew the word fee would be the same as the word tax only used by a private entity instead.
2006-12-06 16:05:48 · answer #4 · answered by The She Beast 2 · 0⤊ 0⤋
some banks charge for the privelege of having an account with them, or it may be a fee for an item which has been returned unpaid, or an unauthorised overdraught. My bank account costs me £13 a month, sucks huh?
2006-12-05 01:31:28 · answer #5 · answered by neogriff 5 · 0⤊ 0⤋
it's the charge for any additional services other than just looking after your money e.g direct debit, credit card transactions etc, bit of a con really as they make money by lending out your money in the first place!
2006-12-05 01:42:07 · answer #6 · answered by simon w 1 · 0⤊ 0⤋
Money can buy a house
but not a home.
Money can buy a bed
but not sleep.
Money can buy a clock
but not time.
Money can buy a book
but not knowledge.
Money can buy food
but not an appetite.
Money can buy position
but not respect.
Money can buy blood
but not life.
Money can buy medicine
but not health.
Money can buy sex
but not love.
Money can buy insurance
but not safety.
You see, money is not everything.
Therefore, if you have too much,
please, send it to me, immediately!
2006-12-05 02:41:48 · answer #7 · answered by Rock 2 · 0⤊ 0⤋
This is money stolen from you for them to look after your account :)
2006-12-05 01:34:19 · answer #8 · answered by Longjohn 4 · 0⤊ 0⤋