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Current Accounts

Interest rates driving current account switching

One year on from the introduction of the Current Account Switching Guarantee, MoneySuperMarket reveals the main factors incentivising customers to switch their current account.

M&S Bank £125 current account switching incentive exclusively through MoneySuperMarket

From Monday 1st September consumers looking to take out the M&S Bank current account can pocket a £125 M&S gift card when they switch their current account exclusively through MoneySuperMarket.

Women try on 1,340 shoes but only change their bank account once

Unsurprisingly, the overwhelming majority of women (91%) consider looking after their finances to be more important than buying a new pair of shoes (4%).

New fee structure for Clydesdale and Yorkshire Banks current account customers

Customers of Clydesdale and Yorkshire Banks will start receiving notification of new fee structures for personal current accounts.

Four in ten more likely to bank with a new entrant than a year ago

New research from uSwitch.com, the independent price comparison and switching service, reveals that the wave of new entrants to the banking sector has created even more appetite amongst consumers for an alternative to the high street banks, as four in ten (40%) are now more likely to bank with a new entrant than a year ago.

HSBC offers new Advance account with no monthly fee

HSBC announces that from 10 November 2014 it will be offering a new Advance bank account which will have no monthly account fee. In addition, over 1.3 million existing HSBC bank account holders, who pay a minimum of £1,750 into their account each month, will be automatically upgraded to the new Advance account.

New ‘retry’ process helps customers avoid fees caused by bounced payments

From Monday 1 September 2014 a retry process will be extended within the banking industry to help customers avoid late payment charges on their account.

Time to graduate to a new bank

With more than 350,000 students graduating this summer it’s now time for them and other recent graduates to take a real interest in their bank accounts, industry expert David Black of Consumer Intelligence says.

Lloyds Bank 2014 Student Account

Lloyds Bank has launched its 2014 Student Current Account, available to new and existing customers. The account features a number of money saving benefits including a free NUS extra card for three years, which could save savvy students an average of £525 a year at over 170 high street and online brands.

Students and graduates to benefit from 1|2|3 world products

University students will be the latest to gain from the range of 1|2|3 products this week with the introduction of Santander’s 1|2|3 Student Current Account.

Half of Brits have multiple incomes each month

Half of people in the UK have more than one regular monthly income credited to their current account, which could potentially make budgeting more difficult.

6% of customers have moved bank account since introduction of new switching rules

In the nine months since the banking industry’s seven-day account switching rules came into force, 6% of customers have switched their current account according to new research.

Personal current accounts and small business banking not working well for customers

Essential parts of the UK retail banking sector lack effective competition and do not meet the needs of personal consumers or small and medium sized enterprises (SMEs), two studies by the Competition and Markets Authority (CMA) have found.

1 in 4 go overdrawn halfway through the month

By midway through the month more than a quarter (27%) of adults in the UK have already dipped into their overdraft, new research has found.

Tap, tap and away: TSB customers go contactless

TSB has rolled out 2.2 million new contactless debit cards increasing the number of TSB customers able to tap and go by almost five times.