Current Accounts
Halifax continues market leading student account
Halifax has announced its 2009/2010 student account offering. Students will continue to benefit from an industry leading interest free overdraft of up to £3,000.
Get independence from your poor value current accounts
One in five Britons (21 per cent) fail to switch their current account, simply because they say they don't have time to do so, according to a study by Santander's UK current account brands, Abbey and Alliance & Leicester.
Lloyds TSB first bank to launch on demand text balances
Lloyds TSB has become the first bank in the UK to launch ‘on demand' text message balance updates for its customers. The new Balance on Demand service means that customers can request an up to the minute snapshot of their account, straight to their mobile phone, simply by sending a text message.
Sky-high rates for those in the red
Interest rates for bank customers who exceed their overdraft limit, or go into the red without an authorised facility from their provider have remained sky high over the last 12 months, despite a crash in the Bank of England base rate, according to MoneyExpert.com.
Abbey launches 6% reward packaged current account
Abbey has announced the launch of the Reward Bank Account, a new packaged current account giving new and existing Abbey bank account customers a market-leading credit interest rate of 6% AER (fixed for a year), and a package of benefits worth a total of over £400 a year, including exclusive travel insurance worth £150.
Alliance & Leicester voted Best Current Account Provider
Alliance & Leicester Current Accounts has scooped double honours in the prestigious annual Moneyfacts Awards, winning both the Best Current Account Provider (Credit Interest) and Best Current Account Provider (Debit Interest) for the fourth consecutive year.
2009 NatWest student account
This week NatWest launches its 2009 Student Package offering both competitive financial benefits and market leading incentives including the very popular 5-Year 16-25 Railcard, worth £130. This card gives students a one third discount on most rail fares across Great Britain every time it is used.
HSBC cuts Bank Account Plus credit interest rate
In response to HSBC's 2% AER reduction to the Bank Account Plus in-credit interest rate, Louise Bond, personal finance manager at uSwitch.com, comments:
Santander increases current account credit interest rates
Santander's UK current account brands, Abbey and Alliance & Leicester, are once again challenging the current account market by bucking the trend and increasing the credit interest rate to 6.00% AER on their already popular high interest accounts.
Overdraft rates set to increase
Most banks have counter-intuitively been increasing overdraft interest rates (Equivalent Annual Rates) even whilst the Bank of England has been cutting the Base Rate.
Nationwide announces new overdraft rate
Nationwide Building Society has today announced that from 1 June 2009 the authorised and unauthorised overdraft rate will increase from 17.90% to 18.90% EAR. The rate remains below the average charged by most major high street banks.
Current account funding clauses
Many of the ‘best' current account deals available at the moment carry a minimum funding clause, typically requiring the account holder to pay between £500 and £1,500 per month into the account.
Alliance & Leicester £100 switching offer ends soon
Current account customers are being urged to go online within the next 7 days and take advantage of Alliance & Leicester's £100 incentive by switching to its Premier Current Account or Premier 50 Current Account before the offer ends on 28 May 2009.
Added value account costs rise
The average monthly charge for each incentive is now £1.19 according to one of the findings of Defaqto's Retail Banking Report 2009.
Switching soars
The latest internal data from The Co-operative Bank Current Accounts has revealed a 123% annual increase in customers switching their current accounts to The Co-operative Bank.