Banking News
One-in-ten adults would fail simple personal finance exam
As many as 4.7 million or one-in-ten British adults would score less than 40% in a simple personal finance examination, falling short of the equivalent to a GCSE grade C2 and failing to achieve an O’ Level pass, according to recent research by Abbey Current Accounts.
Brits ‘very concerned’ about debts
More than 2.48 million adults (7%) are very concerned about their ability to keep on top of their debts as recent interest rate rises start to hit home, new research from MoneyExpert.com reveals.
Consumers want UK based call centres
While many financial services organisations have sent their call centres overseas, Nationwide has bucked the trend and opened three new UK call centres, and refurbished two more, since 2002.
Student deals by degrees
New students starting university this September face a labyrinth of deals, discounts and incentives from banks desperate to sign them up, says MoneyExpert.com.
Banks give with one hand and take with the other
The clampdown on charges for a variety of everyday financial products has had the opposite effect – actually bringing an increase in the number of fees.
Debt a fact of life for most students
UK students currently have, on average, over £7,500 of debt, according to the Halifax Student Finances Survey 2007. For most students debt is a fact of life, for some it is something they will spend many years after graduation trying to repay.
Nationwide withdraws PPI products
Samantha Owens, Head of Personal Finance at Moneyfacts.co.uk, comments: “Today Nationwide BS has announced it will be withdrawing its Personal Loan Protection Insurance and Credit Card Protection Insurance from sale, with its website stating that insurance is available from other insurers
PIN security advice guide issued by APACS
Consumer advice guide provides top tips to help cardholders protect their PIN from fraudsters.
Brits abroad leave themselves exposed to identity theft
Holidaymakers planning their summer holiday are warned to be extra vigilant with their personal information and belongings.
Students need to be financially savvy, or risk paying later in life
With A-Level results set to be announced this week and an expected rise in the number of students heading off for their first year at university, new students need to be aware of how easy it is to slip into debt – and how that debt can have dramatic implications post – university.
BBA LIBOR: Overnight rate falls for second day
Today’s BBA LIBOR overnight sterling rate has fallen back for the second day running after three days of rising levels.
Brits not concerned by internet fraud
Half the British population (51 per cent) say they are not concerned about Internet banking fraud, even though nine out of ten (93 per cent) realise it is not a victimless crime, new research from Lloyds TSB Internet banking reveals.
New Star: MPC minutes
Simon Ward, Economist at New Star, comments on the MPC minutes: “The unanimous vote to leave rates unchanged in August was in line with our MPC-ometer’s prediction and the minutes indicate less of a tightening bias than suggested by last week’s Inflation Report.
New Star: Fall in inflation
Simon Ward, Economist at New Star, comments on the fall in inflation: “The move below target, though possibly temporary, should temper the MPC’s worries about a pick-up in inflation expectations fuelling higher wage demands.
OFT disappointed by delay of faster payments service
The OFT is disappointed by the announcement today from the Association for Payment Clearing Services (APACS), that the introduction of the faster payments service has been delayed until May 2008.