Banking News
FSCS can help consumers claim up to £48,000 in compensation
Consumers could claim up to £48,000 if they have lost money as a result of their dealings with any of the 27 investment firms the Financial Services Compensation Scheme (FSCS) has recently declared in default.
HSBC reaches out to dormant account customers
HSBC is writing to more than 12,000 customers as part of its campaign to reunite them with millions of pounds in forgotten current and savings accounts.
Five million cheques processed on average bank day
The Cheque and Credit Clearing Company (C&CCC) has published data on cheques processed over the course of one day.
Mergers of Nationwide with The Derbyshire and The Cheshire
Nationwide Building Society has announced that it will merge with The Derbyshire Building Society and The Cheshire Building Society, who will transfer into the Nationwide Group by way of two separate transactions.
BSA welcomes mergers of Nationwide with Derbyshire and Cheshire
Commenting on the announcement that the Derbyshire and Cheshire Building Societies are to merge with the Nationwide Building Society, Adrian Coles, Director-General of the Building Societies Association, said: "The BSA welcomes the mergers of Nationwide Building Society with Derbyshire and Cheshire Building Societies announced today.
Chelsea achieves top ethical accolade
The Ethical Company Accreditation Scheme has awarded Chelsea Building Society a top award for its ethical status.
Falling Sterling forces MPC to leave rates on hold
As expected, the falling strength of sterling has caused the Bank of England to leave interest rates on hold at 5.0% for the fifth consecutive month.
UK interest rates held at 5.0%
The Bank of England's Monetary Policy Committee today voted to maintain UK interest rates at 5.0%.
Fears increasing about older loved ones being scammed
Almost 9 out of 10 of people in Britain think that older people are more at risk of scams now than in previous years, with three quarters worried their older relatives or friends could fall victim to a scam.
Step up security and prevent identity fraud
Following recent news of bank customers' details being sold on eBay, Fairinvestment.co.uk is offering tips on how to avoid identity and credit card fraud.
FSA consults on Payment Services Directive Handbook changes
The Financial Services Authority (FSA) has today issued a consultation paper proposing Handbook changes that are required to implement aspects of the Payment Services Directive (PSD).
Scott pours cold water on fears of a further UK bank collapse
Fears that other UK banks could be on the brink of collapse, forcing the Bank of England to mount a rescue operation akin to Northern Rock are "mis-placed scaremongering", according to Ted Scott, manager of the F&C UK Growth & Income Fund.
Outlook for UK banking sector in the wake of credit crunch
In its latest Market View report, Alliance Trust says UK banks still have relatively low capital ratios, compared to their European, North American and Asian peers, leading to ongoing uncertainty over the strength of their balance sheets. On this basis, further capital raising cannot be ruled out.
AEGON calls on FSA to listen to consumer needs
AEGON UK is calling on the FSA to take account of what consumers want from financial advisers as it moves ahead with its advice reform agenda with the Retail Distribution Review.
Possible launch of Metro Bank in Greater London
Commenting on the possible launch of Metro Bank in Greater London, Kevin Mountford, head of current accounts at moneysupermarket.com, said: "This would be a very interesting move. Some people will say it is foolish time to enter the banking market given the expectation of recession and the lack of consumer confidence.