Banking

Consumers seek financial advice as fears of recession loom

As the UK continues to feel the effects of the global financial crisis over 125,000 consumers have sought guidance from an independent financial adviser in the last three months, according to figures from Unbiased.co.uk, the find an Independent Financial Adviser search.

Fraud cases up by 15%

At the end of the third-quarter of 2008, data provided by the 270 Members of CIFAS - the UK's Fraud Prevention Service - shows that recorded fraud cases are up by 15%.

Banks put the squeeze on overdrafts

Interest charges on authorised overdrafts have climbed by an average 1.35 per cent since June this year as banks put the squeeze on borrowers, analysis from MoneyExpert.com shows.

moneysupermarket.com: Abbey packaged account

Commenting on the launch of Abbey's packaged account Kevin Mountford, head of current accounts at moneysupermarket.com, said: "Packaged accounts have rightly faced criticism on the basis that the benefits offered are often very generic; meaning the accounts are not always appropriate for the customers they are targeting, or even used by them.

Abbey launches new bank accounts with lifestyle benefits

Abbey is launching two new accounts designed to offer added value to families and people who like to travel frequently. The accounts, which cost £15 a month, are Abbey's first entry into the 'added value account' (also know as "packaged accounts") market.

Abbey International paying up to 6.25% on fixed deposits

Abbey International has announced new interest rates on its limited offer fixed rate contracts which are now paying up to 6.25% AER, to complement its variable interest rate range of offshore deposit and Base Rate tracker accounts.

Banks shore up finances at expense of customers

Since the Bank of England announced its 0.50% reduction in base rate, 38% on savings provider have now announced a cut in rates compared to 44% of mortgage lenders.

'Currency market tsunami' is not yet over

Last week saw Sterling fall against the Dollar by 22 cents - the equivalent to a whole year's average volatility in one week.

Bank charges appeal is piling on the misery for consumers

As the Court of Appeal prepares for the bank charges test case between the OFT and the UK's leading high street banks to recommence tomorrow (28 October), Which? chief executive, Peter Vicary-Smith, says:

A&L’s Premier 50 Current Account celebrates first birthday

A year on from its launch, Alliance & Leicester's Premier 50 Current Account for the over 50s still offers a market-leading credit interest rate, currently 8.50% AER, despite the Bank of England Base Rate being cut by 1.25%, from 5.75% to 4.50% during this time.

Tesco launches credit card and loan comparison services

Tescocompare.com has announced the expansion of its non-insurance based comparison services with the launch of its credit card and unsecured personal loans comparison channels. The two new channels allow consumers to search without having to fill in their personal details.