Banking News
APACS: Revised timescale for faster payments service
The banking industry today announced that the new faster payments service will be introduced at the end of May 2008.
BBA LIBOR: markets settle after recent volatility
The rate, a daily measure of the rate at which large banks will lend to each other in the London market, has been reaching historic highs above the Bank of England base rate during the past few days, reflecting concerns among banks about the fallout from the US sub-prime markets.
Student debt to reach over £20,000
The UK’s largest ever survey of student finance by Push, which works in association with Lloyds TSB student banking, reveals that students who started at university last year can expect to owe nearly £17,500 by the time they leave and many new students are likely to face debts of over £20,000.
Royal Bank of Scotland Group launches mobile banking
The Royal Bank of Scotland Group is launching a new mobile phone banking service which will be available to its 13 million customers with debit cards.
BBA LIBOR: markets recover, worries persist
This morning, UK markets led a recovery after suffering heavy losses last week. However, BBA LIBOR rates are at historically high levels, after spiking sharply on Thursday and Friday.
Yorkshire Building Society announces new high street agencies
Yorkshire Building Society will open three new agencies on the South Coast at the end of August.
Holidays in the red
More than 8.3 million holidaymakers get into debt to fund their summer break, new MoneyExpert.com research reveals. Its research shows 18 per cent of people getting away from it all – nearly one in five holidaymakers – are getting into debt.
Just Retirement announces partnership with Cambridge Building Society
Just Retirement, the specialist retirement solutions group, announces that its equity release advice arm Just Retirement Solutionshas entered into a three year arrangement with Cambridge Building Society to offer advice on equity release to its customers.
Nationwide updates overdraft rates
From 1 November 2007 the authorised rate for all Nationwide Building Society’s overdrafts will be 9.9% AER and the preferential overdraft rate will be withdrawn.
PayPal: Importance of being safe online
In light of the report by the House of Lords Science and Technology Committee, into the security of the Internet, Cristina Hoole, Spokesperson for PayPal, comments about the importance of being safe online:
Government must act to maintain confidence in the Internet
The Government must do more to protect individual Internet users from the threat of e-crime, says the House of Lords Science and Technology Committee.
New service delivers international cash in just ten minutes
TV presenter Konnie Huq has teamed up with the Post Office and MoneyGram who are bringing international money transfers closer to home by extending the service to all 14,000 UK Post Office branches.
Bank of England: Inflation Report August 2007
In the United Kingdom, the recent brisk pace of output growth was sustained in the second quarter.
The £244 million cost of holiday convenience
Holidaymakers abroad will withdraw up to £6.4 billion this year from ATM machines on their debit cards - but it could be costing them over £244 million to do so, new research from MoneyExpert.com shows.
Families more likely to chat ‘birds and the bees’ than finances
Over three quarters of the UK population (77 per cent) regularly worry about their family’s finances, yet would much rather talk about sex than money management, according to research by secured loan provider Picture Financial.