Lloyds Banking Group committed to keep free banking

UK Banking

UK Banking

Keeping their current accounts free

Despite calls for the banking industry to start charging for all bank accounts, Lloyds Banking has rejected the idea, saying that they have “absolutely no plans” to start charging for basic current accounts and that they are committed to keeping their current accounts free.

Alison Brittain, head of retail banking at Lloyds said:

Some people do choose to pay for accounts that have added features. That’s their choice, but they always have an option to go back to an account that does not cost anything and we have absolutely no plans to change that. I don’t think the British public would welcome that innovation and I don’t think it would enhance the reputation of the banking industry.

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