Oh dear does the FSA know?

[righty]

Competition Commission finds that banks make more money for rejecting a DD than they do from allowing them to be paid:whistle:
http://wikileaks.org/wiki/Hackers_blow_whistle_on_banks
------------------------------- merged -------------------------------
I wonder if the suspicions of some (me included) that the banks target the less well off to fund 'free' banking, ably assisted I might add by the Government who insist on paying benefits by BACS, are now confirmed?

[Amethyst]

Re: Oh dear does the FSA know?

South African competition commission report shows a paid debit order costs the bank R1.42 (10 pence) and a rejected debit order costs R4.18 (30 pence). At the time of the report (around June 08 published publicly December 2008 with redacted figures) the charges were around 40R for both (£2.88).

(Righty - Legal Beagles)