Banking

Base interest rate decision 'better than instability'

Director at Fairinvestment.co.uk James Caldwell comments on the Bank of England's decision to hold the base interest rate at 0.5 per cent: "The news is hardly surprising because the MPC has nowhere else to go, interest rates are as low as they can be without dropping to near zero, which could have detrimental consequences on confidence and lending.

UK interest rates held at 0.5%

The Bank of England's Monetary Policy Committee today voted to maintain interest rates at 0.5%.

A million reasons for speedy resolution to bank charges saga

As new figures from the Financial Services Authority (FSA) reveal that almost one million people have bank charges claims against awaiting resolution, Which? lawyer Chris Warner says:

BBA: Stop a billion unnecessary tax invoices heading our way

EU proposals under discussion could result in bank customers receiving over a billion useless VAT invoices alongside their statements unless the Chancellor uses his coming Budget to commit to reversing red tape, the British Bankers' Association said today.

Leeds Building Society quiz night raises funds for local charities

The Leeds Building Society Grand Quiz Night was held at the Jongleurs Comedy Club in central Leeds.

Switching soars

The latest internal data from The Co-operative Bank Current Accounts has revealed a 123% annual increase in customers switching their current accounts to The Co-operative Bank.

The right cards will maximise your Euros or Dollars

Money might be tight and the Euro and dollar uncomfortably strong, but a plethora of people will still be heading across the Atlantic or the Channel for the Easter break. Most though will face hefty foreign exchange fees and transaction charges if they don't use the right credit, debit or prepaid card for the job.

Lords knows what banks are thinking, says Which?

As the House of Lords allows banks to appeal against the High Court's decision in the bank charges test case, Which? personal finance campaigns manager, Doug Taylor, says: "It's outrageous that public money is being used to drag this saga out for even longer when the banks should accept the Court of Appeal's decision and draw a line under this issue once and for all.

Are the 'powers that be' going soft on banks?

Commenting on the news banks have been granted leave to appeal in the bank charges case, Kevin Mountford, head of banking at moneysupermarket.com, said: "The OFT saga looks set to rumble on as the House of Lords has now granted banks the right to appeal. But while the House of Lords might be feeling sympathetic to banks, it is the man on the street who suffers again.

Bank charges decision 'surprising'

Fairinvestment.co.uk and partner Claims Financial, comment on the House of Lords' decision to allow the banks to appeal the Court of Appeal's ruling that bank charges can be subject to fairness rules.

Base rate - one month on

Last month the Bank of England cut bank base rate to the lowest level in its 315 year history. One month on and we can see the impact the cut has had on savings and mortgage rates.

Nationwide makes available £3.2M for disadvantaged groups

The Nationwide Foundation has made available £3.2 million to help tackle the issues of housing and financial exclusion amongst disadvantaged groups. The Foundation, a registered charity set up and funded by the Society is today launching two new grant programmes and an investor programme.