The majority of Britons want banking to remain free, with most also saying this is more important than having the right to reclaim banking charges.
This is according to an online survey by website Fool.co.uk, which found that nine in ten people are in favour of free banking.
Two-thirds added that free banking is important and it is right for banking customers to reclaim charges deemed as being unlawful.
But free banking remains the most important to customers when faced with a choice between not paying for banking and having the right to reclaim charges.
"It is not surprising that when push comes to shove, a vast majority of bank customers put self-interest before compassion," commented David Kuo, head of personal finance at Fool.co.uk.
He added that a court decision to uphold the right of Lloyds TSB to charge a banking customer for their overdrawn account might have significant repercussions on the banking sector.
"Although the judgment is not binding on any other court cases, the upshot is that banks may be less willing to capitulate over claims for unlawful bank charges," Mr Kuo commented.
However, he added that banking customers should continue to reclaim unlawful banking charges.
"The genie may be out of the bottle, but customers are still ultimately masters of their own bank account," he said, adding that banking customers should switch accounts if they are not given the best deal.
Recently, Mr Kuo welcomed an Office of Fair Trading investigation into banking charges.
He suggested free banking is a myth, as it has been delivered "at the expense of hidden charges, penal fees and poor interest rates on money held at the bank".
Survey: Customers split on free banking
Financial Services > e-banking > Banking news
Survey: Customers split on free banking
Wed, 16 May 2007
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