Banking
Northern Rock PLC deposits
HM Treasury has confirmed that the guarantee arrangements for existing deposits in Northern Rock PLC would cover all accounts existing at midnight on Wednesday 19 September.
First Direct scraps credit interest
Samantha Owens, Head of Personal Finance at Moneyfacts.co.uk, comments: “First Direct has become the first current account provider to scrap credit interest on its current accounts, promising to invest this money in enhanced features and savings rates.
Halifax launches first multi-currency ATMs
Halifax today announces the launch of multi-currency ATMs that will allow customers in the UK to withdraw euros and US dollars.
Rewarding bad behaviour - Northern Rock
Jenny Challenor, Mortgage Strategist at Torquil Clark said: Should Chancellor Alistair Darling be offering to bail out Northern Rock, pledging the Bank of England would guarantee all existing deposits? No, I don't think he should.
Internet banking still has a strong future
Jim Spowart, the chairman of Peopleschampion.com, speaking on BBC Radio Five Live and the Today Programme today (19 Sept), says internet bank is still a viable way to deal with customers’ money.
Parents pay price for kids in debt
As many as 7.5 million parents have had to help adult children pay off their debts with the average family forking out £2,540 on behalf of their kids, according to new research by MoneyExpert.com.
NatWest launches new current account for 11 to 18 year olds
NatWest has launched a new current account for young people aged 11 to 18 which enables them to create their own card. The account, called NatWest Adapt, aims to give teenagers a sense of independence in managing their own money and is designed to meet the lifestyle needs of young people with special offers and benefits they frequently use.
Nationwide expands its UK call centre operation
Nationwide Building Society has announced its intention to expand its UK call centre operation.
Fool.co.uk: Statement by the Chancellor of the Exchequer on financial markets
David Kuo, Head of Personal Finance at Fool.co.uk, says: “We welcome HM Treasury’s announcement to safeguard all existing deposits at Northern Rock during the current troubles in the banking sector.
first direct reshapes the current account
first direct is to reshape its current account and savings products on 1 November to help customers earn serious money on their savings rather than small change on their current account.
Enduring power of attorney change will cost Brits an extra £7bn
From 1 October significant changes are being introduced to the Enduring Power of Attorney (EPA), meaning that the cost of implementing this document through a high street solicitor will rise to around £350 from around £110.
New Government financial guidance service for North West
From today, residents in the North West of England will be able to obtain impartial financial information and guidance either over the phone, face-to-face or via the web, thanks to a three-month government-funded trial.
Rate increase on Halifax International Guaranteed Reserve Account
Bank of Scotland International has increased the interest rate on its six month Halifax International Guaranteed Reserve Account.
Abbey International still sees higher savings rates as a possibility
Following the Bank of England’s decision to leave UK Base Rate unchanged for September, Abbey International said that it feels a further rise in UK interest rates could still be possible this year, if the risks for inflation remain on the upside.
FSA: Northern Rock and market conditions
Commenting on the statement made by the tripartite authorities this morning in relation to Northern Rock, the chairman of the FSA, Callum McCarthy, said: "The FSA's judgement on Northern Rock is that we believe it is solvent, meets all capital requirements and has a good quality loan book.