JPMorgan warns 86 million customers they might have to start paying for their bank accounts
finance.yahoo.com
Bank prepares to pass costs on to customers.

cross-posted from: https://lemmy.world/post/17274141

The potential charges, says Marianne Lake, CEO of consumer and community banking at JPMorgan, are a result of new regulatory rules that cap overdraft and late fees. Lake says Chase will be passing along those increased expenses to customers, which would put an end to now-free services such as checking accounts and wealth management tools. And she says she expects other banks will follow suit.

      • then_three_more@lemmy.world
        3·
        9 days ago

        They seem about the same as most other banks over here. Their app is maybe slightly behind the challenger banks like Monzo and Starling, but well ahead of some of the big banks (looking at you HBOS and Santander). So while they keep giving me money I don’t really care. If I were banking for mortality I’d have to use CO-OP or maybe Nationwide anyway because I can’t imagine any of the big banks don’t have blood on their hands.

        Chase’s savings account has one of the best interest rates on the market in the UK at the moment. Plus the 1% cashback on all transactions and until it finishes next month 1% interest on my current account.

        If (or probably when) they stop being so competitive I’ll drop them like a stone though.