Banking
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.
New service delivers international cash in just ten minutes
TV presenter Konnie Huq has teamed up with the Post Office and MoneyGram who are bringing international money transfers closer to home by extending the service to all 14,000 UK Post Office branches.
Rising overdraft rates
Samantha Owens, Head of Personal Finance at Moneyfacts.co.uk, comments: “Following the base rate rises of the last year a number of current account providers increased their overdraft rates, and the July rise has seen this trend continue.
Bank of England: Inflation Report August 2007
In the United Kingdom, the recent brisk pace of output growth was sustained in the second quarter.
Supermarkets poised to steal 17 million current-account customers
Three out of four people (75%) believe their supermarkets offer them value for money on groceries, almost half believe supermarkets sell value for money financial products too, according to a survey by Fool.co.uk. It seems that many of us deem that supermarkets can be as good at providing ISAs as they are at selling ice cream.
The £244 million cost of holiday convenience
Holidaymakers abroad will withdraw up to £6.4 billion this year from ATM machines on their debit cards - but it could be costing them over £244 million to do so, new research from MoneyExpert.com shows.
Families more likely to chat ‘birds and the bees’ than finances
Over three quarters of the UK population (77 per cent) regularly worry about their family’s finances, yet would much rather talk about sex than money management, according to research by secured loan provider Picture Financial.
The end of free banking
The pay-per-transaction system, which could be introduced here in the wake of the OFT's clampdown on charges, has been given the big thumbs-down by Britons.
New student account helps with money management and entertainment costs
The 2007 student package from Yorkshire Bank offers a range of competitive benefits in a simple and accessible format, taking the hassle out of finance for students from their first year to their final exams.
Skipton offers help for will executors
For the 40% of people in the UK who have written a will, choosing an executor to carry out their wishes once they’re gone can be hard – especially as the complexities of modern life mean estates are becoming less straightforward to administer.
Bag the best player in the market
With the 2007 season kicking off, dedicated fans need to ensure their football related financial products are the best players on the market.
moneysupermarket.com: Select Committee’s recommendations on dormant funds
Commenting on the Treasury Select Committee (TSC) recommendation that banks, building societies and National Savings actively look to reunite customers with dormant funds, Kevin Mountford, head of savings and current accounts at price comparison website moneysupermarket.com, said:
Unclaimed assets within the financial system
Between £400 million and £500 million is currently held in dormant bank and building society accounts in the UK where, for whatever reason, a financial institution has lost contact with an account holder.
Individual insolvencies set to rocket
There were 26,596 individual insolvencies in the second quarter of 2007 – 10,698 IVAs and 16,258 bankruptcies. Yet with interest rates at a six year high of 5.75% and the cost of living soaring, research by online price comparison and switching service uSwitch.com reveals that individual insolvencies could reach an all time high of 112,588 by the end of the year.
Rate increase for offshore savers
Alliance & Leicester International Limited (ALIL), the offshore savings bank, has reviewed its savings portfolio and increased the rates on its offshore savings accounts, including its new eSaver Offshore Issue 1 account, which now has a market leading rate of 6.40% gross pa/AER.