Banking News
Overdraft mistake costs average £44.98
Customers making a one-off mistake on their overdraft could pay an average £44.98 for the error, according to new analysis from MoneyExpert.com.
UK economy prospers since sterling's ERM exit 15 years ago
The sterling's ejection from the ERM marked the start of a substantial improvement in the UK's economic performance, according to Halifax Financial Services research.
Brits naive about IVAs
New research from moneysupermarket.com reveals Brits’ naivety about Individual Voluntary Arrangements.
OFT warning regarding scam telephone calls on bank charges
The OFT has been made aware of a scam involving consumers being telephoned by people, alleging to be from the OFT, asking for personal and financial information including their bank account details in order for the OFT to reclaim bank charges on their behalf.
The ‘big freeze’ leaves bank customers out in the cold
The ‘big freeze’ on bank charges introduced last month will result in almost one million claims, worth a staggering £713 million, being put on hold, according to research from uSwitch.com.
Cheque use halved in ten years
The number of cheques written by individuals has halved from 2.0 billion to 1.0 billion in the last ten years, according to a report by APACS, the UK payments association.
Nationwide merges with Portman
Nationwide Building Society has confirmed that from today, 28 August, it has successfully merged with Portman Building Society.
Royal Bank of Scotland first in UK with superfast way to pay
The RBS-sponsored AT&T Williams team made the first public contactless card payment in the UK using a RBS contactless debit card, roaring through the McDonald's drive-thru in Billingsgate in London to grab a Big Mac.
Average income in Kensington exceeds £100,000
The London Borough of Kensington and Chelsea has become the first area in the country to breakthrough the £100,000 barrier for average household income according to the latest wealth survey by Barclays Premier Banking, the personal banking service for affluent customers.
Britannia - Building a Fairer Society
Britannia Building Society is launching a £5million brand awareness campaign in a bid to grow its membership and show the public that not all financial service providers have their best interests at heart!
Abbey welcomes CC report on SME banking services
Abbey Business Banking today welcomes the Competition Commission’s decision to remove its recommendation of price control in its report on small and medium-sized enterprises (SME) banking services.
HSBC launches text message banking for businesses
HSBC is offering business customers the next generation of telephone banking with the launch of text message banking; enabling ‘on demand’, 24 hour secure access to account information including mini-statements and balance enquiries through their mobile phone.
HBOS welcomes CC decision to remove price controls
HBOS is pleased with the Competition Commission's (CC) decision to remove price controls as a key recommendation of its report on SME banking services.
OFT welcomes decision to lift price controls on SME banking
The Office of Fair Trading (OFT) welcomes the Competition Commission's provisional decision to lift price controls on the four main business banks in England and Wales.
Competition Commission lifts price controls on SME banks
The Competition Commission (CC) has today published its provisional decision to lift the temporary price controls imposed in 2003 on the UK’s four largest banks servicing small and medium-sized enterprises (SMEs).