Banking

Nationwide calls on Alistair Darling to take action as Chancellor

Following his appointment to Chancellor, Nationwide Building Society calls on Alistair Darling to help hard-pressed homebuyers and savers.

The Co-operative group pays £19.6m in share of profits

Members of The Co-operative Group are set to receive a share of profit payment totalling £19.6m for their trade in 2006 it was revealed today (28 June).

New Abbey account raises the bar (but only in the short term)

Michelle Slade, Personal Finance Analyst at Moneyfacts.co.uk, comments: “The launch of Abbey’s 8% current account takes the battle to another level. But you need to be aware that this 8% is short lived, after a year this will fall to 2.50% and it’s sadly not available to existing Abbey customers.

Alliance & Leicester: Abbey’s new 8% current account

Andy Bayes, Head of Current Accounts at Alliance & Leicester said: “It is great to see our competitors picking up the baton and joining us and challenging the Big Four by offering customers competitive rates of credit interest.

Banks call for clearer advice & risk based regulation

Customers looking to invest will get clearer and more focused advice and information if proposals from the British Bankers' Association are adopted by the Financial Services Authority.

Friends Reunited takes on Paypal

Friends Reunited, the website which enables people to find their old friends from school, university work and the armed forces, today announced that it's linking up with PayPal to offer an additional way for members to securely pay their member fees.

10-minute snapshot of UK banking

Every 10 minutes UK banks pay out more than £3 million through cash machines, the British Bankers’ Association shows in its latest annual statistics.

uSwitch.com: Abbey's market-leading 8% current account

Following the launch of Abbey’s market-leading 8% AER current account, Mike Naylor, Personal Finance Expert at independent online price comparison and switching service uSwitch.com, warns consumers not to be lured in by limited offers:

Red reminders to be shown the red card

Two thirds (66 per cent) of Britons have received a ‘red reminder’ for payment of their bills with 63 per cent blaming forgetfulness new research from Lloyds TSB Internet banking reveals.

Abbey comment on the pound breaking through the $2 barrier

Comment from Abbey's Chief Economist, Barry Naisbitt: "Today the pound has again broken through the $2 dollar barrier. Having passed through $2 in late May for the first time in over a decade, the pound then retreated again but stayed over $1.90.

moneysupermarket.com: Abbey's new switching account

Commenting on Abbey’s new switching account, Kevin Mountford, head of current accounts at price comparison website moneysupermarket.com, said: “On the face of it Abbey’s new switching account looks a very good offer, demonstrating the battle to gain current account customers shows no sign of ending – we have recently seen Halifax re-introduce its £100 incentive.