Banking News
NAEA calls for interest rate reduction
The National Association of Estate Agents (NAEA) is calling on the Bank of England to reduce interest rates to 5% on Thursday.
Credit unions welcome support for money guidance service
ABCUL – the Association of British Credit Unions – has welcomed Government support for financial planning advice announced by Yvette Cooper, Chief Secretary to the Treasury.
moneysupermarket.com: Thoresen Review
Commenting on the Thoresen Review,Kevin Mountford, head of savings at moneysupermarket.com, said: "We are firmly supportive of any initiative that aims to improve levels of financial literacy – even the simplest of products, such as basic savings and current accounts can sometimes be baffling.
Don't bank on drastic interest rate cuts
With intense speculation continually surrounding the fluctuating Bank of England base rate, research carried out by fairinvestment.co.uk found that 56 per cent of people believe the rate will fall below the five per cent mark by the time the year is out.
Banks must not penalise customers for bad-debt write offs
Personal finance website Fool.co.uk is calling on banks not to punish customers for the sub-prime write-offs.
FSA to lead 'pathfinder project' delivering money guidance service
The Financial Services Authority (FSA) welcomes the Thoresen Report published today, and the announcement from HM Treasury that the FSA will lead a two-year pilot project to test delivery of the UK’s first national money guidance service.
Financial education is key, says BBA
Financial education is the key to ensuring people can make sensible financial plans for the future, the British Bankers' Association said today.
Identity theft can be too close to home
While identity theft is often committed by faceless fraudsters, organised criminals and those unknown to the victim, it is not uncommon for the culprit to be a "friend" , or even a family member.
Recommendations for a national money guidance service
Otto Thoresen has published the final report of the Thoresen Review of Generic Financial Advice. The report sets out a high-level blueprint for a national money guidance service to provide the people of the UK with the knowledge, understanding and confidence to make better decisions about money issues.
Alliance & Leicester named best business current account provider
Alliance & Leicester Commercial Bank has been voted ‘Best Business Current Account Provider’ by leading independent finance guide Business Moneyfacts for a record sixth consecutive year, re-affirming the bank’s dominance in the business banking current account market.
Defaqto’s Star Ratings an industry success
Defaqto’s Star Ratings for 2008 have been more widely adopted by providers than ever before. The ratings, which have become the most authoritative and impartial guide to product quality available, cover products in the banking, protection, investment, pension and general insurance areas.
Happy New Year for building societies’ savers
Strong savings inflows into building societies during the latter part of 2007 have continued, with the new year seeing the largest January inflow (£597 million) to societies since 1997.
Non-doms pay income tax too, argues BBA
Foreign workers in the UK contribute hugely to the economy and already pay income tax on their UK earnings, the British Bankers’ Association said today.
Banking industry update on new Faster Payments Service
APACS, the UK payments association, has confirmed that the banking industry is on track to deliver the infrastructure that will enable a new faster payments service to be launched starting on 27th May this year.
Banks back down on overdrafts as rates fall
But going into the red without permission is still very painful, MoneyExpert.com research shows