Banking News
Kids feel the pocket money pinch
We all know the economic downturn has hit our wallets – but it has also hit children’s piggy banks, according to a report from Tesco Bank.
Metro Bank joins LINK ATM network
Metro Bank, Britain's first new high street bank in over 150 years, has joined the LINK ATM network, giving its customers access to the entire UK cash machine network.
moneysupermarket.com - Launch of Metro Bank
Commenting on the launch of Metro Bank, Kevin Mountford, head of banking at moneysupermarket.com, said: "After much hype we've finally seen the launch of the first new high street bank for more than 100 years.
Big surge in tied products
The proportion of mortgages and regular savings accounts that are only available for people who have another product with the same provider has increased dramatically since the beginning of 2010, discouraging consumers from shopping around to get the best deals, finds new research from the experts at Which? Money.
Mobile banking has global impact
The widespread emergence of mobile banking is having a huge transformative effect in both developed and emerging economies, a pioneering ‘mobile money' business leader said today in Mumbai, India.
Shield your PIN at cash machines
Video footage by LINK, the UK's cash machine network, reveals how criminals can try to get hold of your four-digit PIN when you use an ATM that they have targeted.
UK savers bank on their phones to save a pretty penny
Over half (51%) of Brits never leave home without their mobile phone with 44% claiming they couldn't live without it, according to research from BM Savings. In fact, a quarter (26%) of Brits confessed they would worry they would miss a call if they forgot their mobile.
New contenders or young pretenders?
The landmark opening of Metro Bank's first branch will take place by the end of the month, with Virgin Money, Tesco Bank and Walton & Co expected to follow suit.
Barclays launches 2010 student bank account
Barclays has unveiled its new and improved student package which includes an interest-free overdraft facility, allowing students to choose a limit that they need up to £2000, a free SMS service to help students keep on top of their finances, and a range of exclusive mobile phone, broadband and laptop incentives.
Tipton team go back to school
An amateur team of ‘teachers’ from the Tipton and Coseley Building Society have gone back to the classroom to share mathematical and numeracy skills with local pupils.
Being loyal to your bank could cost you more
Consumers who remain loyal to their bank could be paying around £2,814 more over a year compared to those who shop around for the best deals, according to analysis from moneysupermarket.com.
Fraudsters target bank account mules
Members of CIFAS, the UK's Fraud Prevention Service reported nearly 16,000 instances of fraudulent misuse of bank accounts in the first 5 months of 2010. This was 1% higher than in 2009 and 2009 was 42% higher than 2008 with just 11,000 cases.
Which? manifesto to put customers at the heart of banking
Which? has published a Banking Manifesto to help rebuild trust between banks and their customers by putting service ahead of short-term profit.
moneysupermarket.com - Lloyds TSB overdraft fee changes
Commenting on Lloyds TSB's overdraft fee changes which come into effect in December, Kevin Mountford, head of banking at moneysupermarket.com said: "It is good to see further initiatives from a major player in the banking industry on overdraft charges, and the reduction of fees will certainly help some customers.
Review your finances and offset the impact of the Budget
Yesterday's budget spelled the beginning of tough times for many of the UK's hard pressed consumers. With tax increases and cuts in public services spending, taking time out to review your finances could help reduce your own personal deficit.