Banking News
IFA Life launches Twitter directory of IFAs and financial planners
As the Internet celebrates its 20th anniversary, financial services social networking website IFA Life is launching a Directory of IFAs, Financial Planners and Advisers who use Twitter.
Guardian backs OFT in closure of ‘look alike’ debt advice websites
Guardian Debt Management has backed the OFT in its decision to force the immediate closure of 11 financial management businesses with ‘look alike’ websites posing as official or charity advice sites.
Consumers accept there's no quick-fix for economy
Consumers believe it will be at least a year and a half before the economy improves, according to new research by Which?
MORE TH>N Legal Services provides documents to help with debt
As the recession takes hold in Britain, financial concerns and worrisome debts are affecting more people.
Countdown to Payment Services Directive
There are only eight months remaining for payment service providers to prepare for the Payment Services Directive (PSD), a new European law that will impact UK payments, particularly those made into and out of current accounts.
Citizens Advice: OFT action on look-alike debt advice websites
Citizens Advice Director of Public Policy, Teresa Perchard said: "We are really pleased that the Office of Fair Trading (OFT) has taken action to close these websites which have been misleading the public by marketing themselves on the back of extremely well known and well trusted charities and government information services.
New OCR Diploma offers money management know-how
Having the knowledge to manage your money effectively has never been more important, especially in today's economic climate. Accordingly, OCR, a leading UK awarding body, has included a unit - Learning to manage your personal finances - as part of its new Business, Administration and Finance Diploma.
£1bn processed in a single day through Faster Payments Service
The Faster Payments Service has beaten its previous daily record, announced in December 2008, of processing nearly four million payments, to a value of nearly £730 million, Chaps Co confirms today (6 March 2009).
RBS and NatWest balance the needs of borrowers and savers
Following the Bank of England's announcement to reduce base rate to 0.50%, NatWest and RBS will ensure they balance the need of borrowers and savers.
HSBC lowers interest rates by 0.50% for majority of borrowers
HSBC can confirm that the vast majority of its consumer mortgage and small to medium sized business customers will fully benefit from today's base rate cut of 0.50 per cent by the Monetary Policy Committee.
Another record low for UK rates: next stop “quantitative easing”
Paul Niven, Head of Asset Allocation at F&C, comments on interest rate cut by the Bank of England: "As widely anticipated the Bank of England has cut interest rates to a record low in a half point move, to 0.5%.
Barclays pledges base rate help to savers and borrowers
Following the announcement today from the Bank of England's Monetary Policy Committee that the base rate will be reduced by 0.5 percentage points to a new historic low of 0.5 per cent, Barclays announces that it will be protecting all of its savings customers by holding their rates unchanged, whilst the vast majority of its mortgage and Local Business customers will benefit from the reduction.
Savers and borrowers will suffer from rate cut
The Building Societies Association (BSA) has criticised the decision by the Bank of England to cut the Bank Rate - today's decision will harm savers and will further restrict funds available to borrowers.
Rate cut will 'do little to ease the economy'
Director at Fairinvestment.co.uk, James Caldwell comments on today's announcement from the Bank of England that base rate has been cut to 0.5%.
UK interest rates cut to 0.5%
The Bank of England's Monetary Policy Committee today voted to reduce interest rates by 0.5 percentage points to 0.5%, and to undertake a programme of asset purchases of £75 billion financed by the issuance of central bank reserves.