Banking and Saving Articles
Bank Charge Case To Go On For Weeks
The Office of Fair Trading is hoping the High Court will rule in its favour which would allow banks' fees to be challenged under consumer law. There are eight lenders who are accused of making unfair charges to customers, among them is the Royal Bank of Scotland. The High Court, however, has been told that current account customers are comfortable with the system of charges of current accounts... Read More
Banks Have Hit Savers' Interest Rates
The global credit crisis has eventually led to the Bank of England cutting back the base rate to 5.5%. Consumers were hopeful that UK banks would reduce their mortgage rates in accordance with the lowered base rate but many still refuse to pass on any significant savings. Experts agree banks are trying to recoup losses. Now banks are cutting their rates on savings accounts... Read More
Bank Loyalty On The Wane
Britain has seen an increase in customers switching to a new bank. Many customers say they feel their bank doesn't treat them as a valuable customer or have experienced unhelpful staff. Just a few years ago less than 1 in 10 switched whereas today, almost 1 in 5 are opting for a new bank. Research shows banks need to focus on customer support more than ever... Read More
Abbey Cut Back Savings Rates
Lenders have been tightening their lending criteria on mortgage and loan borrowing and now seem to be doing the same with savings rates as well. Some of the top banks are cutting back rates however, you may be able to find a good deal if you can afford large deposits each month. Shopping online for a savings or current account is recommended... Read More
Co-op Breaks FSA Guidelines On Overdraft Charges
The Co-operative bank has changed their guidelines toward overdraft charges which some say will affect low income customers who tend to run out of money before the end of the month. These changes seem to be in violation of FSA guidelines. Those on benefits could be hit hardest... Read More
OFT Draws Bank Charge Battle Lines
The Office of Fair Trading has recently attacked banks for their stealthy and sneaky penalties against customers reaping the banks almost £2 billion a year profit on charges alone. Often times consumers are unaware or unclear as to how certain penalties work such as fees on overdrafts and other "unexpected" charges. The OFT says this is not "free banking" at all... Read More
Savings Re-United
With UK debt at its highest levels of late reports claim over £5 billion is left unclaimed from savings, pension and endowment accounts. Whilst some banks and building societies are attempting to contact rightful owners of this cash, the Government wants to put the money into a central fund to benefit good causes. Are you missing out?... Read More
Pensions - What They Are And How They Work
It's never too late or too soon to start investing in your retirement. Many people, especially younger adults, may not feel funding a retirement now is relevant however, the sooner you invest in your retirement the more financially comfortable you will be when the time comes. The government encourages pension investment by offering helfpul tax advantages... Read More
Do You Qualify For A Tax Credit?
There are two main types of Tax Credits in the UK. If you qualify for one or both you are eligible to receive monthly payments from the government to help with daily costs. Read more about Tax Credits and discern if you are eligible for a little financial help... Read More
Internet Bank Accounts
Since financial institutions introduced online banking, the number of online bank accounts has increased tremendously. The basic principal behind online banking is to provide both a convenient and secure way to access your funds 24 hours a day.... Read More
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