Banking News
The end of free banking
The pay-per-transaction system, which could be introduced here in the wake of the OFT's clampdown on charges, has been given the big thumbs-down by Britons.
Skipton offers help for will executors
For the 40% of people in the UK who have written a will, choosing an executor to carry out their wishes once they’re gone can be hard – especially as the complexities of modern life mean estates are becoming less straightforward to administer.
Bag the best player in the market
With the 2007 season kicking off, dedicated fans need to ensure their football related financial products are the best players on the market.
moneysupermarket.com: Select Committee’s recommendations on dormant funds
Commenting on the Treasury Select Committee (TSC) recommendation that banks, building societies and National Savings actively look to reunite customers with dormant funds, Kevin Mountford, head of savings and current accounts at price comparison website moneysupermarket.com, said:
Unclaimed assets within the financial system
Between £400 million and £500 million is currently held in dormant bank and building society accounts in the UK where, for whatever reason, a financial institution has lost contact with an account holder.
Individual insolvencies set to rocket
There were 26,596 individual insolvencies in the second quarter of 2007 – 10,698 IVAs and 16,258 bankruptcies. Yet with interest rates at a six year high of 5.75% and the cost of living soaring, research by online price comparison and switching service uSwitch.com reveals that individual insolvencies could reach an all time high of 112,588 by the end of the year.
Personal insolvencies fall
There were 26,956 individual insolvencies in England and Wales in the second quarter of 2007 on a seasonally adjusted basis, according to the Insolvency Service. This was a decrease of 8.1% on the previous quarter and an increase of 4.2% on the same period a year ago.
UK interest rates held at 5.75%
The Bank of England’s Monetary Policy Committee today voted to maintain interest rates at 5.75%.
Fact: Building Societies provide superior customer service
Building societies provide better service and higher customer satisfaction than other financial service providers, according to independent research commissioned by the Building Societies Association (BSA).
Lloyds TSB launches bilingual call centre for Poles
Lloyds TSB has today launched a new fast track account opening service for Poles planning to move to the UK, making opening a current account with Lloyds TSB easier than ever before.
Teenagers raid ‘Bank of Mum & Dad’ to fund holiday spending
Thousands of young people will be jetting off abroad with friends this summer, but poor budgeting skills will mean that they will be relying on financial help from Mum and Dad to fund their holiday adventures, new research from Lloyds TSB Travel Money Card reveals.
Time to put the myth of the common law marriage to bed
Fool.co.uk welcomes the Law Commission’s recommendations to extend legal and financial protection to unmarried couples.
Customers waking up to forgotten cash
Consumers are flocking to track down forgotten cash as banks step up efforts to reunite customers with money in dormant accounts in the run-up to the Government’s unclaimed assets scheme.
Fool.co.uk petitions FSA to reverse decision on bank charges
David Kuo, Head of Personal Finance at Fool.co.uk comments: “Customers who have been stung by unfair bank charges should ignore the FSA’s decision to grant waiver to firms on complaint handling. In fact, they should proceed with reclaiming penal bank fees without delay.
Mortgage business strong part of Skipton’s rising profits
Skipton Building Society Group’s half year results sees its mortgage business getting stronger year-by-year to help the mutual deliver some of the foremost profits in the sector.