Banking
OFT disappointed by delay of faster payments service
The OFT is disappointed by the announcement today from the Association for Payment Clearing Services (APACS), that the introduction of the faster payments service has been delayed until May 2008.
APACS: Revised timescale for faster payments service
The banking industry today announced that the new faster payments service will be introduced at the end of May 2008.
BBA LIBOR: markets settle after recent volatility
The rate, a daily measure of the rate at which large banks will lend to each other in the London market, has been reaching historic highs above the Bank of England base rate during the past few days, reflecting concerns among banks about the fallout from the US sub-prime markets.
Results are in, now it's time to get finances in order
Don’t be swayed by other gimmicks, it's interest-free overdrafts and fee-free banking that should be the priority for all freshers.
Student debt to reach over £20,000
The UK’s largest ever survey of student finance by Push, which works in association with Lloyds TSB student banking, reveals that students who started at university last year can expect to owe nearly £17,500 by the time they leave and many new students are likely to face debts of over £20,000.
Royal Bank of Scotland Group launches mobile banking
The Royal Bank of Scotland Group is launching a new mobile phone banking service which will be available to its 13 million customers with debit cards.
BBA LIBOR: markets recover, worries persist
This morning, UK markets led a recovery after suffering heavy losses last week. However, BBA LIBOR rates are at historically high levels, after spiking sharply on Thursday and Friday.
Yorkshire Building Society announces new high street agencies
Yorkshire Building Society will open three new agencies on the South Coast at the end of August.
Holidays in the red
More than 8.3 million holidaymakers get into debt to fund their summer break, new MoneyExpert.com research reveals. Its research shows 18 per cent of people getting away from it all – nearly one in five holidaymakers – are getting into debt.
Earning equals learning for young people
Whilst many young people are preparing to head off to university this autumn, over four in ten (43%) admit that the prospect of acquiring debt whilst at university is putting them off going, according to research by Alliance & Leicester.
Just Retirement announces partnership with Cambridge Building Society
Just Retirement, the specialist retirement solutions group, announces that its equity release advice arm Just Retirement Solutionshas entered into a three year arrangement with Cambridge Building Society to offer advice on equity release to its customers.
Nationwide updates overdraft rates
From 1 November 2007 the authorised rate for all Nationwide Building Society’s overdrafts will be 9.9% AER and the preferential overdraft rate will be withdrawn.
PayPal: Importance of being safe online
In light of the report by the House of Lords Science and Technology Committee, into the security of the Internet, Cristina Hoole, Spokesperson for PayPal, comments about the importance of being safe online:
Government must act to maintain confidence in the Internet
The Government must do more to protect individual Internet users from the threat of e-crime, says the House of Lords Science and Technology Committee.
Abbey International again passes on full 0.25% rate rise
Abbey International has responded to the change in UK Base Rate in July and has again passed on the full 0.25% increase to its Gold account and Instant Access Savings account customers. Abbey International has already raised savings rates by 0.25% on all of its Base Rate Tracker family of accounts two days after the UK Base Rate rise in July.