is it true that when you reach 60 years old ,you will not pay current account charges any more,?

I stopped paying bank charges when I was 50. It's called "researching what's out there." It's not a government plan, it's a bank's offer.

Most people seem to assume you're talking about banks, so I will assume the same. It depends on the bank. I've never seen it around here, but there may be some banks who will try for your patronage by doing something like that. My credit union gave me a free life insurance policy. It's only for $2000 and it's only if I should die in some horrible accident, but it's something and didn't cost me a dime.

I'm 69 and I've heard nothing about this. If you don't like the account charges try another bank or credit union that doesn't have the charges. Not all banks do.

It's like that at my bank in Ontario, Canada.......I don't pay service charges for cheques, withdrawals, money orders, paying bills, etc.........but they don't do it out of the goodness of their heart! For their kindness, they cease paying interest on that account! Fortunately, for as low as the interest rates are these days, I'm still ahead.

Edit: to capitalgentleman......TD Bank offers this service and it's the top bank in Canada. I also know that CIBC offers it.

Not true in Australia. I'm sick of account charges at my bank.

Depends on your bank. Some will even grant such accounts at 55. With others it depends on your average or minimum balance. Shop around

Depends on the bank. I've not heard of one that does that in Canada.

I don't pay any charges now, we only have one bank.

I have free checks and a senior account with no hangups. this is in the great state of Oklahoma.

Banks are businesses and wish to make money. This sounds ludicrous and I am wondering where you have heard this suggestion/rumour.