Under the new scheme, customers have a choice of a Pay-as-you-go scheme of 22p per transaction of paying a flat fee of £3 per month for a maximum of 30 transactions, after which they pay the 22p per transaction charge.

The £100 rule for free banking no longer applies. The overdraft facility fee has been reduced from £20 to £12. Customers will no longer pay any of the separate service charges for either automated or manual transactions. Most unauthorised lending charges and the Government taxes will remain.