Current Accounts
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.
Tesco Bank launches first current account
Tesco Bank is today launching its first current account. The account has been designed after listening to more than 20,000 customers, and includes all the key features that matter most to them.
UK debit card spending continues to increase
A quarter of Brits (25%) with a debit card now use it more frequently than they did 12 months ago, according to research from M&S Bank. This compares to one in five (20%) credit card holders who say they use their credit card more frequently than they did a year ago.
M&S Bank launches new M&S Current Account
M&S Bank announces the launch of its first current account with no monthly fee; the M&S Current Account is available from now. Customers can apply for the account online in-branch or via M&S Bank’s 24x7 UK-based contact centre.
Challenger banks turning up the heat
As M&S Bank confirms the launch of its new mass market current account Andrew Hagger of moneycomms.co.uk looks in detail at how the challenger banks have raised the bar and are offering customers a credible alternative to the established high street banks.
Play the current account rate game to maximise the return on savings
Following the figures released from the Payments Council, reporting a 14 per cent increase in the number of people who have switched current accounts in the last six months, MoneySuperMarket has analysed the best deals on the market.
Young people no longer regard cheques as important
When choosing a current account provider, young people are unlikely to regard the provision of a cheque book as important.
5% interest from the bank account that's not like other bank accounts
TSB has announced the launch of its new Plus bank account. The account, which will be available to customers at the end of March, offers a market leading 5% credit interest without all of that usual funny stuff.
Half of customers who pay bank charges end up in unauthorised overdraft
Of the more than one in four people (28.6%) who paid bank charges last year, over half (55.9%) ended up in an unauthorised overdraft as a result, according to thinkmoney.
Post Office offers £100 incentive to new current account switchers
The Post Office is offering a £100 incentive to customers who switch to one of its three current accounts on offer.
The Co-op £100 current account switching offer with £25 charity donation
The Co-operative Bank has announced the launch of a current account switching offer allowing customers to earn £100 and make a £25 donation to a leading charity of their choice.
Savers missing out due to apathy over low interest rates
Over a quarter (26 per cent) of adults are stuck on low savings interest rates as they believe rates are so low it isn’t worth looking elsewhere according to a poll by MoneySuperMarket.
New 4% interest paying current account from Clydesdale and Yorkshire Banks
Clydesdale and Yorkshire Banks have launched Current Account Direct, a new current account paying 4% interest.