HSBC to stop paying interest on current accounts in bid to save £7million a year

Britain's biggest bank is to stop paying interest on current accounts in a bid to save millions of pounds a year.
Six million HSBC customers have been told that they will no longer receive interest on their current accounts from December.
It will save the bank around £7million a year, and follows a similar move from subsidiary First Direct and rival Barclays.
Industry experts predict other high street banks will follow as profits are squeezed through the credit crunch.
The current account market has become a fierce battleground for banks.
They threatened the end of free banking after being forced to pay out millions of pounds to customers who reclaimed charges imposed for accidentally slipping overdrawn.

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Well, they did only make £5.2 BILLION profit in the first 6 months of this year. Poor things !