In retail banking, unlike many other retail industries, the pricing of banking services is shrouded in secrecy. What do customers really pay for a current account, other products or their overall relationship with the bank? While banks across the world may be becoming more transparent in disclosing their charges, for most customers the true costs of many services are hidden amongst a maze of banking jargon and fine print. Customers want to know the cost. In today's world, the customer is no longer the servant of the bank as in the past, the roles have been reversed and the customer has become king. And because banks deal in only a single, fungible product called money, the pricing of those banking services has become of critical importance in retaining a more fickle customer base.
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