However, over recent weeks, there have been numerous figures bandied about attempting to prove that banks are overcharging customers to the benefit of shareholders. This is contradicted by the facts. Depending on the service provider, up to three-quarters of customers do not pay any fees on personal transaction accounts, according to a survey of ABA members.
Banks also provide a great deal of support for many people with special needs.
There are fee-free accounts offered by banks to children, people with disabilities, pensioners and students. Bank profits are shared with five and half million direct and indirect shareholders, many of who are retirees who rely on dividends for income.