Banking News
HSBC creates UK’s first dedicated centre for Polish Businesses
Alan Keir, global co-head of commercial banking at HSBC, has opened Britain’s first dedicated Polish Business Unit (PBU) at an official event in Ealing.
New Visa pre-paid card launched
Alliance & Leicester Commercial Bank in association with MoneyCard Limited has arranged to provide Visa pre-paid cards designed to meet the needs of the Public Sector. Where there is a need to make direct payments, for benefits or pensions for example, pre-paid cards offer significant efficiency improvements while saving costs and reducing fraud.
Homeowners could avoid end of free banking
Offset and current account mortgages could offer an escape route for customers faced by current account charges, the leading financial services research company Defaqto believes.
Bank of England issues new £20 note
To coincide with the Bank of England’s launch of a new £20 note featuring economist Adam Smith, APACS - the UK payments association – gives an overview of how we use cash and how this has changed in recent years. APACS figures show that although plastic card payments are increasingly popular, Britons show no signs of abandoning cash any time soon.
Bank charges: Daylight robbery says uSwitch
Around 18.96 million people have been hit by bank charges, totalling £4 billion, and over half (52%) have still not managed to claim the money back, according to research from uSwitch.com.
Winston Churchill cashes in on British vote
On the eve of Adam Smith replacing Edward Elgar on the new £20 note, it’s revealed that three-quarters of Brits have no idea who Adam Smith is - or what the Scottish economist’s achievements were. Britons have insteadcalled for classic British icons Winston Churchill and Emmeline Pankhurst to be immortalised on our money, according to research by Virgin Money.
Rent payment service made more convenient
St. Leger Homes of Doncaster is piloting a new payment service through Alliance & Leicester Commercial Bank, which will almost double the number of outlets where tenants can make rent payments. The new service, which is available immediately, means that tenants are able to pay their rent at any of the region’s 186 outlets that display the payzone sign, in addition to the 199 Post Offices© that currently accept payments.
Customers shackled to their bank
Almost two out of three people feel trapped by their banks, according to independent personal finance website, Fool.co.uk.
Interest rates held at 5.25%
The Bank of England’s Monetary Policy Committee today voted to maintain interest rates at 5.25%.
Power to the people
New figures out today show that 262,400 template letters and factsheets on reclaiming bank charges have been downloaded from which.co.uk\bankcharges.
Nationwide commits to UK call centres
Nationwide has acted quickly to reassure members of its commitment to maintaining its UK call centres following Barclays Bank's announcement that it is to close its Manchester-based Barclaycard call centre and relocate to India.
Low cost international payment service proves a big success
Alliance & Leicester Commercial Bank has announced that the number of businesses choosing to transfer funds overseas via its International Payments Service has increased by more than a third in the last twelve months.
Scarborough to buy Portman’s Guernsey based deposit-taking business
Portman Building Society (‘Portman’) and Scarborough Building Society (‘Scarborough’) today announce that Scarborough has agreed to acquire the entire issued share capital of Portman’s Guernsey based offshore deposit-taking business Portman Channel Islands Limited (‘PCIL’).
A Zodiac of stress – what your star sign says about your money worries
Scorpios are more likely than any other star sign to break up from their partners over money worries, theCreditExpert.co.uk Financial Astrology Study shows. Almost one in eight (12 per cent) split from their partners because of financial stress, says the report.
uSwitch.com comments on the banking reporting season
Following HSBC’s Group profit announcement of £12 billion which is the highest to date, Nick White, Director of Financial Services at independent price comparison and switching website uSwitch.com, comments on the banking reporting season: