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  All the banks have done is raise the possibility that they may have to charge for what are now offered as free services if their income from charges for bouncing cheques, over limit letters etc. is cut following the forthcoming court action.
  
  The most likely outcome is that banks will offer a range of accounts some of which will include transaction charges, some will require an annual account fee in return for no charges etc. What absolutely will happen is a huge shake up of current account banking and a massive amount of competition and customer churn, which is no bad thing.

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