Banking News
FSA must get tough to make a success of retail banking regulation
As the Financial Services Authority (FSA) announces that, from November 2009, it will be taking over all retail banking conduct regulation for deposit taking and payment services, Which? personal finance campaigner, Vera Cottrell says:
FSA implements changes to simplify FSCS
The Financial Services Authority (FSA) is to go ahead with proposed changes to the compensation limits for insurance, investment and home finance advice business in the event of a firm failing, designed to achieve greater simplicity and consistency in the Financial Services Compensation Scheme (FSCS).
New banking regulation promotes fairness for consumers
The Financial Services Authority (FSA) will take over all retail banking conduct regulation for deposit taking and payment services in November 2009.
HSBC voted best bank for customer service
HSBC has the best customer service of all UK high street banks, according to a report published this week by brand and innovation strategists Prophet.
moneysupermarket.com: RPI rate falling to -0.4%
Commenting on RPI rate falling to -0.4 per cent, Kevin Mountford, head of banking at moneysupermarket.com says: "The level of savings - or savings ratio - has been too low for too long in the UK. However, deflation might be the trigger savers need to get them back in the savings habit because their money will be worth more.
Nationwide calls for ISA reform and a review of stamp duty
Nationwide Building Society, ahead of this week's Budget, has called on the Chancellor Alistair Darling to overhaul the ISA system and undertake a widespread review of stamp duty.
The day we go overdrawn
Working people unable to stay in the black are now crossing into their overdrafts 20 days after being paid - a full week earlier than in 2007.
HSBC launches Early Bird Student Bank Account
HSBC has launched a new bank account for final year high school students preparing for university. The HSBC Early Bird Student Bank Account is available to students from the age of 17 and has most of the features of the HSBC Student Bank Account, including:
Where to now?
Commenting on Moody's downgrading nine building societies, Kevin Mountford, head of banking at moneysupermarket.com, said; "Building societies can no longer claim the moral high ground over banks.
In control of money… or the other way around?
We all like to think we're on top of our finances, but in reality most of us are guilty of ignoring that bill until the last minute, or putting off planning our pension because we don't really understand it.
Spring clean your personal finances this Easter bank holiday
As the pound remains weak against the Euro this Easter holiday, many Brits will be shunning holidays abroad, and what better way to use the long weekend than to spring clean finances?
Base interest rate decision 'better than instability'
Director at Fairinvestment.co.uk James Caldwell comments on the Bank of England's decision to hold the base interest rate at 0.5 per cent: "The news is hardly surprising because the MPC has nowhere else to go, interest rates are as low as they can be without dropping to near zero, which could have detrimental consequences on confidence and lending.
UK interest rates held at 0.5%
The Bank of England's Monetary Policy Committee today voted to maintain interest rates at 0.5%.
A million reasons for speedy resolution to bank charges saga
As new figures from the Financial Services Authority (FSA) reveal that almost one million people have bank charges claims against awaiting resolution, Which? lawyer Chris Warner says:
BBA: Stop a billion unnecessary tax invoices heading our way
EU proposals under discussion could result in bank customers receiving over a billion useless VAT invoices alongside their statements unless the Chancellor uses his coming Budget to commit to reversing red tape, the British Bankers' Association said today.