Banking News
M&S first on the high street to offer two dollars to the pound
M&S Money is offering two dollars to the pound at all of its 107 Bureaux de Change for the rest of this week* in response to the anticipated reduction in US interest rates by the Federal Reserve.
Bank of Scotland takes strategic stake in Pi Capital
Bank of Scotland Corporate has taken a strategic 19.9% stake in Pi Capital through its Growth Equity team. No shares were sold by existing Pi shareholders.
Abbey: Pound hits 26 year high against the dollar
Barry Naisbitt, Abbey's Chief Economist comments on the pound hitting a 26 year high against the dollar: "Today the pound hit its highest level against the dollar in 26 years, as high as $2.066 in early trading.
New fraud prevention power will save £millions
Following Royal Assent to the Serious Crime Bill today, CIFAS - The UK’s Fraud Prevention Service welcomed the new provisions that will allow public authorities to step up their fraud prevention measures by engaging in appropriate data sharing with one or more specified anti-fraud organisations.
moneysupermarket.com: BoE September mortgage lending figures
Commenting on the Bank of England figures showing mortgage lending is slowing, Louise Cuming, head of mortgages at moneysupermarket.com, said: “The Bank of England figures prove the mortgage industry is a shrinking market. The lack of growth is bad news for both the mortgage market and the economy as a whole.
FSCS pays compensation to Streetcred members after just 9 days
The Financial Services Compensation Scheme (FSCS) has made the first compensation payments to members of Streetcred Credit Union nine days after it closed its doors on 16 October.
Free to use ATM initiative reaches almost 500 UK communities
Following NatWest and RBS’ commitment to install 300 free to use ATMs, interest has surpassed expectations and over 460 machines have been secured or installed for lower income, under-served and remote areas across the UK.
Nationwide campaign to reunite savers with forgotten dormant accounts
Commenting on the Nationwide Building Society campaign to reunite savers with forgotten dormant accounts, Kevin Mountford, head of savings and current accounts at price comparison site moneysupermarket.com, said:
Fraud trends continue upwards
At the end of the third quarter of 2007, data provided by Members of CIFAS – The UK’s Fraud Prevention Service, continued to give cause for concern.
Campaign launched to reunite customers with unclaimed assets
Nationwide Building Society, the UK’s second largest savings provider, has announced that it will be launching a campaign to reunite its customers with money held in unused accounts with the Society.
Financial bovver needn’t be the Ender the world
Eastenders’ much-loved landlady Peggy Mitchell isn’t the only one facing financial ‘bovver’ - everyday 2,750 County Court Judgments are issued in the UK and it is estimated that 8.2m British adults are in now serious debt.
Alliance & Leicester launches e-welcome pack for intermediaries
Alliance & Leicester has launched a new e-welcome pack for intermediaries in a bid to ensure they receive a comprehensive introduction to the company.
Banking lessons go online with BBA e-learning
Bank staff aiming to sharpen their skills to combat money laundering and to follow the Banking Code are increasingly learning at their desks using British Bankers’ Association online training.
The way we pay in Great Britain
APACS, the UK payments association, has published a new set of online guides looking at the payment habits of adults in every region of Britain. Payment Regions examines the statistics to draw comparisons between different parts of the country and identify some of the national and regional trends in payments.
FSCS can help consumers claim up to £48k in compensation
Consumers can claim compensation of up to £48,000 if they have lost money as a result of their dealings with any one of 45 firms that the Financial Services Compensation Scheme (FSCS) has recently declared in default.