Banking News
Which?: Bank charges test case
Bank charges victory - As the Office of Fair Trading (OFT) and the Financial Services Authority (FSA) announce legal action against UK banks over unauthorised overdraft charges, consumers should not be put off reclaiming their charges, says Which?.
Banks join OFT in test case to establish legal clarity on overdraft fees
A number of banks and financial services organisations are taking the initiative, working jointly with the Office of Fair Trading (OFT) and the Financial Services Authority (FSA), to ask the UK courts to clarify the legal position regarding bank overdraft fees.
OFT launches test case on unauthorised overdraft charges
The OFT is to commence proceedings in the High Court for a declaration on the application of the law in respect of unauthorised overdraft charges.
Businesses to benefit from revolutionary Supplier Payments solution
Abbey UK Corporate Banking, part of the Santander Group and OB10, the leading global e-Invoicing network, have today announced a partnership to deliver cash flow benefits and processing cost savings to businesses in the UK, Europe and internationally.
FSA confirms merger of Nationwide and Portman
The Financial Services Authority (FSA) has today given its confirmation that the merger between Nationwide and Portman building societies can proceed. The merger will become effective from 28 August 2007 and the enlarged society will be known as Nationwide Building Society.
Worrying fraud trends - the rise continues
At the end of June 2007, data provided by Members of CIFAS – The UK’s Fraud Prevention Service, continued to give cause for concern. Comparing the first half of 2007 with the same period in 2006, CIFAS Members have seen a sharp rise in most types of financial fraud.
Millions of Britons suffer from pin code overload
Millions of Britons are suffering from PIN code overload according to the latest research from Abbey Current Accounts.
Former Abbey shareholders eligible for Santander benefits
Since Santander acquired Abbey in November 2004, 1.3m former Abbey shareholders have seen their Santander shares rise 50.8 per cent.
Barclays to take investment education to the high street
Barclays Financial Planning is launching an education programme starting with a series of investment seminars, aimed at educating customers on investment opportunities, to help them make the most of their money.
Alliance & Leicester launches treasury risk solutions offering
Alliance & Leicester Commercial Bank has established a new team in order to provide business customers with a range of treasury risk solutions. Going forward the bank will provide FX, Interest Rate and Currency derivatives to business and corporate customers.
Moneyfacts.co.uk – top 10 tips for students
Lisa Taylor, analyst at Moneyfacts.co.uk, comments: “With only a few weeks to go before the long awaited A’ Level results are published, some school leavers will be excitedly preparing to go off to university.
Brits fail to add their identity to holiday protection checklist
Brits are failing to take precautions to protect their identity before they go on holiday according to new research from CreditExpert.co.uk, the online credit report monitoring service from Experian.
UK banks are among the world’s cheapest
The UK offers cheaper banking to customers than almost any other country in the developed world, according to independent research in the British Bankers Association annual report.
Banks call for regulation debate
Customers and banks would benefit from more streamlined regulation of financial services the British Bankers’ Association said today.
Chief Economist at New Star believes rates may have peaked
Simon Ward, Chief Economist at New Star Asset Management, comments on interest rate prospects: “Recent developments have boosted the chances that rates have peaked at 5.75%.