Banking News
£2.8 billion in dormant accounts
There may be as much as £2.8 billion worth of dormant accounts in UK banks and building societies belonging to people who are alive and could potentially reclaim the money, according to a survey by Experian.
Society welcomes action on transparency and financial inclusion
Nationwide Building Society has welcomed the real progress made by the ATM taskforce in tackling the key issues of transparency over cash machine charges and financial inclusion.
Over 600 new free cash machines in low income areas
A ground-breaking deal has today been struck between a Parliamentary Working Group, chaired by John McFall MP, including leading banks and cash machine operators and HM Treasury to provide over 600 new non-charging cash machines in Britain’s lower-income areas.
Cash machine report ‘is great news for the poorest people’
Banks and other cash machine operators have recommended measures to get more free cash machines into low-income areas which is ‘great news for the poorest people’ says national charity Citizens Advice.
Fool.co.uk comments on reclaiming unlawful bank charges
Ahead of the BBC’s programme on penalty charges, The Motley Fool actively supports customers reclaiming unlawful default charges from their banks, but also urges them to consider the long-term implications.
Brits believe they manage personal finances well
Britons are confident about managing their finances, according to new research from Abbey.
Sainsbury’s Bank offers identity theft protection cover
Sainsbury’s Bank is offering protection cover against the growing problem of identity theft, which has increased by over 500% since 1999.
Loughborough keeps its customers and grows its assets
Loughborough Building Society has unveiled another set of strong figures for the past financial year with its highest growth in assets for a number of years despite uncertainty in the property market and increases in the base rate.
Woolwich customers to move to Barclays during 2007
Following Barclays announcement in June about the closer integration of Woolwich, all Woolwich savings and current accounts will gradually be moved into Barclays accounts during 2007.
Threadneedle's outlook for the US Fed, and analysis of BoE and ECB
There were no surprises from either the Bank of England or the European Central Bank today, when both announced interest rates.
uSwitch.com: NatWest's second increase to authorised overdraft rates in three months
Following NatWest’s latest announcement to increase authorised overdraft interest rates for the second time in just three months by more than double the average increase announced by Lloyds TSB earlier this week, Nick White, Director of Financial Services at price comparison and switching website uSwitch.com comments:
Alliance & Leicester to launch mobile banking
Alliance & Leicester has announced it is planning to launch mobile phone banking in the new year. The service, which complements its award-winning internet banking, will be run via the MONILINK network allowing customers secure access to their current accounts on their mobile phone - wherever they are.
Lloyds overdraft rate rise
Following Lloyds TSB’s announcement to increase agreed overdraft interest rates for the second time in just three months - generating an estimated £19.32 million in revenue in the next year - Nick White, Director of Financial Services at price comparison and switching website uSwitch.com comments:
2006 electoral roll data already online at Callcredit
Credit reference agency Callcredit says 2006 electoral roll data, which councils have only begun releasing today (1st December), has already been uploaded to its online database.
Calls on the chancellor to tackle ISA limits, simplify children's savings and raise stamp duty thresholds
In a letter to the Chancellor ahead of next Wednesday's Pre-Budget Report, the UK's biggest building society points out the current ISA limits have not been increased at all in the seven years since they were introduced.