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Banking News Stories

Financial services complaints continue to fall

Updated: 06th October 2016 - First Published: 06th October 2016 Many people feel dissatisfied with their financial providers at times, but happily, it looks as though the most serious complaints are becoming less and less common. Read More...

Contactless spending hits yet another record

Updated: 06th October 2016 - First Published: 06th October 2016 Contactless spending is going from strength to strength, hitting new records on a seemingly monthly basis - and it’s just broken yet another one, with monthly contactless spending having passed the £2bn mark for the first time. Read More...

Average overdraft rate falls by just 0.04%

Updated: 22nd September 2016 - First Published: 22nd September 2016 While many borrowers have benefited from the base rate cut, the same can’t be said for those with overdrafts. Indeed, despite the rate being cut by 0.25%, the average authorised overdraft rate has fallen by a miniscule 0.04%. Read More...

Current Account Switch Service celebrates 3 years

Updated: 22nd September 2016 - First Published: 20th September 2016 Three years since it started, the Current Account Switch Service has now seen over 3.24 million switches. It was designed to give people a simple and reliable way of switching current accounts, increasing competition within the sector. Read More...

Bank Holiday record for mobile payments

Updated: 07th September 2016 - First Published: 07th September 2016 The rise of mobile payments is undeniable, and it seems that new records are being set on a regular basis. The most recent took place around the August bank holiday, with figures from Paym showing that £1m was sent using the service in a single day. Read More...

Contactless spending for 2016 already at record

Updated: 23rd August 2016 - First Published: 23rd August 2016 Contactless spending has been enjoying a surge of popularity for some time, but it’s been seriously ramping up in recent months – in fact, spending on contactless cards in the first half of the year has already outstripped the total for 2015. Read More...

Don’t lose out when lending money

Updated: 15th August 2016 - First Published: 15th August 2016 Lending money to friends, family and even colleagues is a common occurrence for many people, but unfortunately, research from Paym shows that they often lose out as a result – don’t be one of them! Read More...

The current account conundrum

Updated: 15th August 2016 - First Published: 11th August 2016 Current account customers considering switching accounts face “an ever growing challenge” to find the right deal after it was revealed that the fees charged on authorised overdrafts have recently reached a record high. Read More...

Banks told to make switching even easier

Updated: 09th August 2016 - First Published: 09th August 2016 Banks are going to have to make it even easier for customers to switch their accounts after a two-year investigation found that “older and larger banks do not have to compete hard enough for customers’ business”. Read More...

Contactless spending growth continues

Updated: 01st August 2016 - First Published: 01st August 2016 Contactless spending is quickly becoming the payment method of choice, with the latest figures from The UK Cards Association showing that 18% of all card purchases are now made using contactless technology, up from 7% in May 2015. Read More...


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