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Prepaid Cards or a Traditional Bank account cards are High Street banks increasing their service fees?

Bank accounts with Debit Cards v Prepaid Debit Cards

Bank accounts with debit card facilities have been a part of everyday life due to no monthly bank charges but now it seems this the end to free banking, hence should you switch to a prepaid card?

First Direct are the first Bank to hit all customers with annual charges on current accounts is this 'the end of free banking'

What will First National charge regarding have a personal bank account with or without a debit card or cash card see their day to day running of account charges.

£10 Banking Fee for each month or part of a month that you hold a 1st Account unless we agree to waive the fee. You will not have to pay the Banking Fee:

• For the first six months following account opening;
• For any month in which you:

Pay into your account* (other than by internal transfer from another first direct account) a minimum of £1,500 or you maintain an average monthly balance on your account* in excess of £1,500 (month means calendar month and we will work out the average monthly balance by adding together the end of day balances for each day during the month and dividing the sum by the number of days in the month);

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Hold a first direct mortgage, credit card, personal loan, savings account (* excluding Regular Saver Account), first directory, or first direct car or home insurance policy;

First Direct which is a division of the UK's richest bank, HSBC, has made it clear charging is inevitable in what is seen as a move to protect profits.  HSBC has now signalled a fundamental shift. This would involve imposing fees on virtually all customers, regardless of whether they go into the red.

The watchdog is now looking at taking similar action on overdraft charges, which would grab billions of pounds from the industry. Currently, penalty fees are imposed bank accounts or debit card on those customers who are struggling with their finances, people who bust their overdraft limit or miss payment deadlines.

Prepaid cards are now becoming a serious alternative option to bank accounts with debit cards, How long is it going to be before your bank fees start going up and are you going to be better off?