Current Accounts
Brits jump ship when service gets poor – not when the rates get good
People are notorious for seldomly switching their current accounts. Research from moneysupermarket.com shows nearly two in five people (39 per cent) have never changed their current account despite providers hitting the market regularly with appealing credit balance and overdraft interest rates – there are currently 14 offering rates above three per cent, of which six offer rates over five per cent. In fact only eight per cent of current account holders switched in the last year, testament that this lure is largely unsuccessful.
uSwitch.com comments on Abbey's increase to their current account rate
Nick White, Director of Personal Finance at Switch.com, comments on Abbey’s increase to their current account rate from 6% AER to 6.3% AER for new customers from the 1st February 2007 – the move comes just one month after their increase to preferred overdraft rates from 9.9% EAR to 10.9% EAR for both new and existing customers:
Abbey raises current account rate to 6.3%
Abbey has raised its current account rate to a market leading 6.30 per cent, following the Bank of England’s decision to raise the base rate from 5.00 to 5.25 per cent.
NatWest launches first dedicated Polish bank account in Britain
Today, NatWest brings to market a brand new current account for Polish-speaking customers. The NatWest Welcome Account has been launched specifically to meet the banking needs of Polish-speaking migrants who are new to the UK and is the first bank account where all services are in Polish, including telephone and internet banking as well as a dedicated telephony unit staffed by Polish speakers.
Britons are missing out on the ‘current account revolution’
Britons are failing to switch their current accounts to take advantage of the ‘current account revolution’, according to research from Abbey.
Testing the overdraft limits
People are today warned they need to understand the charges they face from their current account or get their fingers burnt.
A new rate for a New Year!
Everyone who has made a New Year’s resolution to be better with their money this year should make a beeline to Norwich and Peterborough Building Society (N&P) - as customers can now earn up to 45 times more interest on their current account than with the big four banks!
Lloyds TSB says Witajcie to Polish customers
From today, new arrivals to the UK from Poland will find opening a current account with Lloyds TSB easier than ever before.
Moneysupermarket.com comments on HBOS's packaged current account
Stuart Glendinning, managing director at moneysupermarket.com, comments on HBOS’s plans to launch a packaged current account, he said:
Halifax announces launch of "packaged" current account
Halifax announces the launch of its "packaged" current account, believed to be the best value account of its kind from a major High Street bank.
Banks’ commitment to financial inclusion continues
The BBA highlights the banking sector’s strong commitment to increasing the number of consumers being brought into the financial system.
Cheque out the Coventry
Coventry Building Society welcomes the news of improved cheque clearance rules, including the commitment to pay interest on funds no later than two working days after a cheque has been deposited.
So what can you get for a tenner?
A monthly fee of £10 can barely buy you a broadband connection, but it could make the world of difference to an estimated 200,000 First Direct customers who are on the brink of being charged £120 a year for their current account.