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The Statement of Fees document is a new mandatory requirement under the European (Payment Accounts) Regulations 2016 and all banks must provide customers with them on their personal payment accounts.
The aim of this is to help customers easily compare payment accounts by standardising how banks explain the fees they charge. This includes using the same wording to describe the types of fees charged and interest you may have paid or earned.
We are sending you this document to make sure we follow the new regulations and we hope you find it useful to see what you pay in fees and interest every year, and for comparing with payments accounts you may have with other banks.