Banking
The flight to quality
Savings inflows to building societies last month were a new March record at £1.26 billion. This compares with inflows of £0.7billion in March 2007, and represents a 70% increase.
Phased rollout for new Faster Payments Service
With one month to go, APACS, the UK payments association, has confirmed plans for the launch of the new Faster Payments Service.
The great private banking myth
Britons are failing to take advantage of the superior service of traditional private banks because they over-estimate the minimum investment level required to become a customer, according to new research issued today by Cater Allen Private Bank.
Business bank accounts for all
NatWest and RBS are to offer a business current account to all business customers irrespective of their credit standing.
ALIL launches new eSAVER offshore flexible income account
Following the success of its internet savings account - eSaver Offshore Issue 1 - Alliance & Leicester International Limited (ALIL), the Isle of Man based offshore savings bank, has launched a new ‘eSaver Offshore Flexible Income' account.
moneysupermarket.com: OFT bank case
Commenting on the UK's biggest banks losing the test case in the High Court, Kevin Mountford, head of current accounts at moneysupermarket.com, said: "After many months of uncertainty, the Office of Fair Trading is now free to intervene on overdraft charges, setting what it feels is a fair rate.
Justice for bank customers
David Kuo, Head of Personal Finance at Fool.co.uk, says: "We are delighted the High Court has ruled that the Office of Fair Trading (OFT) can assess bank charges for fairness.
uSwitch.com: OFT judgement
Simeon Linstead, Head of Personal Finance at uSwitch.com, the independent price comparison and switching service, comments on the judgement today that the Office of Fair Trading (OFT) can apply consumer contract regulations to decide if bank overdraft charges are fair or not.
OFT welcomes High Court ruling on unarranged overdraft charges
The High Court has confirmed the OFT's view that personal current account unarranged overdraft charges can be assessed for fairness.
Judgment on first stage of OFT test case
Seven banks and one building society (the "Banks") are engaged in a High Court test case with the Office of Fair Trading ("OFT") to decide the legality of unauthorised overdraft charges.
IMA calling for £50,000 compensation limit for bank depositors
Responding to the joint HM Treasury, FSA and Bank of England consultation paper on financial stability and depositor protection, the Investment Management Association (IMA) is calling for a £50,000 compensation limit for bank depositors in the interest of restoring confidence amongst the public and market.
Do more to protect customers' personal details, warns FSA
The Financial Services Authority (FSA) is urging firms to change their attitude to data security and do more to help prevent their customers falling victim to identity fraud and other types of financial crime.
Newcastle Building Society to manage accounts for Heritable Bank
Heritable Bank, the UK incorporated bank established over 130 years ago, has switched the administration and back office processing of its current and new savings book to Newcastle Building Society in a planned strategic overhaul.
Members reaffirm Britannia's mutual status
Members of Britannia Building Society have helped to raise more than £43,500 by voting at its Annual General Meeting (AGM).
Support for Skipton remains strong
Members of Skipton Building Society have again shown their support for the mutual as 20% (around 94,000 members) voted in its Annual General meeting yesterday.