article_snippet: The boss of Barclays has called for an end to free banking, claiming the controversial move would be a ‘step forward’ for customers.
article_snippet: Asked whether Mr Jenkins’ total package would approve of free in-credit bank accounts being outlawed and charges introduced across the board, Mr Jenkins’ total package said: ‘I do think that would be a step forward, yes.
article_snippet: It’s difficult to achieve of course because the banks can’t do that.
article_snippet: ’ total package told ITV News it was unlikely that any bank would make the first move in case any bank lost business.
article_snippet: This shows how out of touch Mr Jenkins’ total package is, as so many customers value free bank accounts.
article_snippet: James Daley of consumer group Fairer Finance said James Daley of consumer group Fairer Finance latest comments were ‘pie in the sky’, adding: ‘To try and scrap the free in-credit banking system we have now would be incredibly unpopular. '
article_snippet: No government would legislate for the free in-credit banking system – it would be a vote loser because more people benefit from it [free banking] than lose out’.
article_snippet: But Mr Jenkins’ total package has the support of senior regulators including Bank of England deputy governor Andrew Bailey, who has called free banking a ‘dangerous myth’ – partly due to the confusing array of hefty charges for the millions who go overdrawn.