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Moneyfacts.co.uk News brings you the latest financial & economic news & reviews of the best products in the UK by our team of money experts.

Banking News Stories

RBS and NatWest to close 259 branches

Updated: 01st December 2017 - First Published: 01st December 2017 RBS has announced that it’s closing a total of 259 branches across its network, following a review of how people use its banking services. The closures will result in around 680 redundancies. Read More...

6 of the best high interest current accounts

Updated: 12th December 2017 - First Published: 16th November 2017 At one time, savings accounts were the only sensible place to put your hard-earned cash, but thanks to rising inflation, it's becoming increasingly difficult to secure a meaningful return. Read More...

Don’t waste your payday cash on overdraft charges

Updated: 01st December 2017 - First Published: 31st October 2017 Today could well be the time when workers get paid their monthly salary, yet although some will be breathing a sigh of relief, those in their overdraft may find that they’re missing some of their cash as it becomes wasted on overdraft charges. Read More...

Current account switching competition heats up

Updated: 23rd October 2017 - First Published: 23rd October 2017 A few months ago, it looked as though competition in the current account market was beginning to wane. However, things are getting back on track, with cash incentives of up to £250 now readily available for those seeking a better bank account. Read More...

Four years and 4m current account switches

Updated: 20th September 2017 - First Published: 20th September 2017 The Current Account Switch Service is celebrating its fourth anniversary this week, and competition in the sector has been soaring ever since. Consumers the can now switch account in seven working days or less, and millions have taken the plunge. Read More...

Unarranged overdraft fees drop by just £1.43

Updated: 19th September 2017 - First Published: 19th September 2017 Unarranged overdraft fees have been in the spotlight recently, with the CMA heaping criticism onto such fees and the FCA calling for change. Yet despite this, the average unarranged overdraft fee has fallen by just £1.43 since the start of 2017. Read More...

Current Account Star Ratings 2017 announced

Updated: 11th September 2017 - First Published: 11th September 2017 Moneyfacts has completed its annual assessment of the personal current account market and awarded its annual Moneyfacts Star Ratings, revealing which standard, premium, student, graduate, youth and packaged accounts are worth considering this year. Read More...

The free bank account myth

Updated: 08th August 2017 - First Published: 08th August 2017 Many people may be tempted to believe that they are getting a ‘free’ bank account when they don’t see any upfront or monthly fees, but our latest research shows that nine in 10 current accounts charge some kind of fees. Read More...

Change to overdraft rules on the cards

Updated: 31st July 2017 - First Published: 31st July 2017 Falling into an unplanned overdraft can be a costly mistake, with sky-high fees and additional charges making it something that can be difficult to recover from - which is why it’s welcome news that the UK’s financial watchdog is calling for change. Read More...

Time to switch current account?

Updated: 27th July 2017 - First Published: 27th July 2017 Many of us have been with our current account provider for years, and often fail to give switching much thought. However, with fierce competition, now could be a great time to reconsider your options, and join the millions of others doing just that. Read More...

Beat inflation with high interest current accounts

Updated: 20th July 2017 - First Published: 20th July 2017 Figures earlier this week revealed that there are still no savings accounts that beat inflation, but all is not lost – there are a few other options that can provide a real return, and high interest current accounts could be one of your best bets. Read More...

Current account rewards disappearing

Updated: 04th July 2017 - First Published: 04th July 2017 Dampening activity in the banking sector has started to affect the perks that customers have been able to get on current accounts. We’ve taken a look at some of the rewards still available, to see if switching could still be worth it. Read More...

New current account switching incentives

Updated: 23rd June 2017 - First Published: 21st June 2017 Yesterday, Halifax announced the return of its popular £125 switching incentive. With HSBC having announced a £200 incentive earlier in the month, we thought we’d take a closer look and see how these new enticements measure up. Read More...

3.7m people switched current account since 2013

Updated: 26th April 2017 - First Published: 26th April 2017 Switching current account has been easier than ever since the Current Account Switch Service was introduced in September 2013, and millions have taken the plunge to do just that. If you’re not one of them, is it worth joining in? Read More...

Switch current account and save £116

Updated: 31st March 2017 - First Published: 31st March 2017 The Current Account Switch Service has just released its first annual report, which revealed that, not only has the scheme enjoyed “many successes” since its launch, but consumers could save a potential £116 each by using it! Read More...

Co-op Bank up for sale

Updated: 13th February 2017 - First Published: 13th February 2017 The Co-op Bank has been put up for sale, but what does it mean for those who bank with it? If you’re a customer, you’re undoubtedly wondering how a future sale will impact you, so we take a closer look at the background, as well as what happens next. Read More...

Open banking revolution on the way

Updated: 03rd February 2017 - First Published: 03rd February 2017 The move to open banking is officially underway, which should hopefully make the banking sector a lot simpler (and hopefully cheaper) for consumers. But what do the changes mean, and how can you benefit? We take a closer look. Read More...

42% plan to change things up

Updated: 26th January 2017 - First Published: 26th January 2017 42% of survey participants are planning to take action in those areas where they are feeling less rewarded, which includes switching bank accounts and credit cards, and even changing jobs (8%) or partners (2%). Read More...

Over 3.5m have switched bank account

Updated: 25th January 2017 - First Published: 25th January 2017 The Current Account Switch Service is in full swing, and since its launch in September 2013, more than 3.5m people have taken the plunge and switched current account. Have you been one of them? If not, it may be time to consider your options! Read More...

Current account sweeteners that can turn sour

Updated: 24th January 2017 - First Published: 24th January 2017 Banks have been working hard to attract your business, with many offering fantastic perks for switchers. However, these perks are starting to dwindle, so if you failed to grab a top deal last year, you may find that some are being clawed back. Read More...

Debit card spending still leads the way

Updated: 18th January 2017 - First Published: 18th January 2017 Many of us turn to plastic at the tills these days, particularly as contactless technology makes it easier than ever before. It’s little wonder that card spending continues to ramp up – and it’s debit card spending that’s leading the way. Read More...

Current account switching to be made even easier

Updated: 17th January 2017 - First Published: 17th January 2017 It was announced today that the Current Account Switch Service (CASS) will be undergoing improvements that are to be implemented in a year’s time. This should help give more customers and businesses the confidence to switch to a better bank account. Read More...

A quarter of all card payments now contactless

Updated: 16th January 2017 - First Published: 16th January 2017 The rise of contactless payments shows no signs of stopping, with new milestones being hit on a seemingly monthly basis. Well, another one has arrived, with new data showing that a quarter of all card payments are now made via contactless means. Read More...

Contactless overtakes cash

Updated: 29th December 2016 - First Published: 29th December 2016 Last week we reported that contactless payments were on the rise, and this popularity could soar even further, with consumers displaying a clear preference for it – so much so that contactless has overtaken cash for low-value purchases. Read More...

Did you check your balance on Christmas Day?

Updated: 29th December 2016 - First Published: 29th December 2016 Christmas usually goes by in a whirl of wrapping paper, turkey and feel-good TV, but it seems that even the joys of the festive season aren’t enough to distract us from our finances. Read More...

Will you have a contactless Christmas?

Updated: 22nd December 2016 - First Published: 22nd December 2016 Contactless spending has seen yet another surge in popularity, and it’ll no doubt continue to ramp up over the next few days. Many will even be hitting the virtual shops on Christmas Day, taking festive contactless spending to a whole new level. Read More...

Over 4.1 million have opened fee-free accounts

Updated: 14th December 2016 - First Published: 14th December 2016 Fee-free bank accounts have now been provided by the big nine retail banks for almost a year, following a Government-led initiative to benefit those consumers vulnerable to debt. Read More...

Simple measures to improve banking security

Updated: 29th November 2016 - First Published: 29th November 2016 The payments industry is gearing up for some big changes in the near-future, with the announcement of some key improvements that should help all of us be more secure when banking online. Read More...

Top cashback deals for festive rewards

Updated: 22nd November 2016 - First Published: 22nd November 2016 Savvy shoppers will no doubt be looking to make the most of their hard-earned cash at this time of year, but there isn’t much time left to work out which are the good deals and which are the bad, so it’s time to take action! Read More...

20,000 Tesco customers lose money

Updated: 07th November 2016 - First Published: 07th November 2016 Tesco Bank has confirmed that it was hit by fraudulent activity over the weekend, resulting in some 20,000 customers losing money. As a result, it has halted online transactions and has pledged to refund those who have had money stolen. Read More...

A fifth of all card payments are now contactless

Updated: 07th November 2016 - First Published: 04th November 2016 Contactless payments have become the norm in recent months, regularly hitting records, and their popularity is going from strength to strength – further highlighted by new findings which show that one in five card payments are now contactless. Read More...

More than £300m sent using mobile phones

Updated: 02nd November 2016 - First Published: 02nd November 2016 The way we pay for things is definitely changing. No longer do we need to rifle in our bags for loose change – now, we can pay with the tap of a card, the flash of a watch or the ease of a mobile phone app, and the latter's popularity is on the rise. Read More...

More people are switching current accounts

Updated: 20th October 2016 - First Published: 20th October 2016 Competition in the current account market remains intense, which means if you’re not happy with your account for any reason, now’s a great time to switch! Happily, more and more people seem to be getting in on the switching action... Read More...

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...

Over 3m current accounts switched since 2013

Updated: 20th July 2016 - First Published: 20th July 2016 The Current Account Switch Service was launched in 2013 as a way to boost competition and encourage consumers to seek a better deal, and it appears to be having the desired effect, with over 3m accounts being switched since the scheme’s launch. Read More...

Extortionate fees push overdraft costs to new high

Updated: 12th July 2016 - First Published: 12th July 2016 In March 2009 the credit crunch started to bite and base rate fell to its historic low of 0.50%, but since then, the cost of borrowing using a current account has risen – and it’s now hit yet another high. Read More...

Number of debit cards hits 100m for first time

Updated: 01st July 2016 - First Published: 01st July 2016 Using cards instead of cash is a growing trend, but it isn’t just credit cards that are making headlines. Indeed, new figures show that there are now more than 100 million debit cards in circulation, the first time this milestone has been hit. Read More...

Contactless cards go mainstream

Updated: 10th June 2016 - First Published: 10th June 2016 It seems that the contactless revolution is well and truly underway, with a new report from The UK Cards Association showing that more consumers are choosing to pay using this method than ever before. Read More...

Consumers more engaged with their money

Updated: 06th June 2016 - First Published: 06th June 2016 When was the last time you logged on to your online banking facilities? Chances are, it was fairly recently, with data from Halifax highlighting the growing level of engagement consumers are having with their money. Read More...

Contactless spending at new record

Updated: 19th May 2016 - First Published: 19th May 2016 The growth of contactless spending is undeniable, with consumers everywhere enjoying the convenience of being able to pay for goods with the tap of a card - and as a result, spending on contactless cards has now hit record levels. Read More...

Proposals to make banking better

Updated: 17th May 2016 - First Published: 17th May 2016 Switching current account to a better deal or to a provider with better service can be daunting, but this lack of movement means that providers can be lazy with their offerings - and that’s bad news for consumers. Read More...

Are you a finance obsessive?

Updated: 10th May 2016 - First Published: 10th May 2016 Many of us worry about how much money we have left in the bank. But now that mobile and online banking has become more familiar and widespread, it seems that some of us have turned into ‘finance obsessives’. Read More...

Huge growth in contactless transactions

Updated: 04th May 2016 - First Published: 04th May 2016 Are you on the contactless bandwagon? Chances are, you’ve indulged a few times, with the convenience of being able to pay for goods with the tap of a card being too good to beat – and a growing number of people are getting in on the action. Read More...

Make the most of the current account storm

Updated: 25th April 2016 - First Published: 25th April 2016 Since the launch of the Current Account Switch Guarantee in 2013, almost three million people have ditched their old account - and as a result, a veritable current account storm has been created as providers compete to attract new customers. Read More...

Growth in current account switching

Updated: 21st April 2016 - First Published: 21st April 2016 The Current Account Switch Service was first launched in 2013 to offer a hassle-free way to switch current accounts, and it seems that consumers are getting on board, with switching activity definitely on the rise. Read More...

Do YOU trust contactless payments?

Updated: 20th April 2016 - First Published: 20th April 2016 Contactless payments have been around for a while now. But while many have jumped on the bandwagon and been merrily tapping away, there are still a large number of consumers who continue to keep contactless payments at arm’s length. Read More...

Watch out for current account fees

Updated: 22nd March 2016 - First Published: 21st March 2016 Once upon a time, fee-free current accounts were the norm, but our latest research shows that this is no longer the case, with more and more day-to-day current account customers now paying fees to use their account. Read More...

Cost of an overdraft hits an all-time high

Updated: 07th March 2016 - First Published: 07th March 2016 Borrowing from current account overdrafts is fast and convenient, but it can come at a price, with figures showing that the cost of doing so has escalated significantly in recent years. Read More...

Further growth in contactless spending

Updated: 26th February 2016 - First Published: 26th February 2016 Spending on contactless cards more than tripled in 2015, latest data from The UK Cards Association shows, and with this form of technology becoming increasingly common, it’s little wonder. Are you getting involved? Read More...

London leads mobile banking revolution

Updated: 26th February 2016 - First Published: 26th February 2016 Have you got onto the mobile banking bandwagon? It could depend on where you live, with research from Paym showing that Londoners are clearly leading the way when it comes to banking on the go… Read More...

Use of mobile payments soaring

Updated: 15th March 2016 - First Published: 09th February 2016 Have you ever sent a payment using just a mobile phone number? If not, you could soon be one of the minority, with usage of the Paym mobile payment service nearly doubling every six months. Read More...

New help for customers to recover payments

Updated: 27th January 2016 - First Published: 27th January 2016 It’s an all-too familiar scenario – we transfer money to a friend’s account, only to get a wave of panic that we’ve input the wrong details after pressing the “send” button. Happily, these fits of mild terror could soon be things of the past… Read More...

1.03m switched current accounts last year

Updated: 22nd January 2016 - First Published: 21st January 2016 The Current Account Switch Service was launched as a way to encourage customers to switch bank accounts and boost competition in the sector. It appears to have had the desired effect, with millions of customers having found a better deal. Read More...

Cash incentives tempt current account switchers

Updated: 12th April 2017 - First Published: 18th January 2016 Current accounts have always been renowned for their perks, but they’re now upping the ante even more, with many offering generous cash bonuses to entice new customers… Read More...

One in 10 transactions are now contactless

Updated: 30th December 2015 - First Published: 30th December 2015 The number of contactless transactions only ever seems to be on the rise, with the convenience of being able to pay for something with a tap of a card proving to be hugely popular with consumers. Read More...

Mobile banking gets a boost

Updated: 23rd December 2015 - First Published: 23rd December 2015 For many people, online banking has become a core part of money management. Research from Halifax has revealed that mobile banking activity continues to rise, with clear spikes during the biggest shopping days of the year. Read More...

Over-50s jump on the contactless bandwagon

Updated: 03rd November 2015 - First Published: 03rd November 2015 It’s often thought that new technology is most easily absorbed by the young, but in the case of contactless payments, this is far from the truth. Read More...

Moneyfacts on TV – the current account conundrum

Updated: 30th October 2015 - First Published: 30th October 2015 Last week we reported on the investigation by the Competition and Markets Authority (CMA) into current account switching Read More...

Current accounts kept for average of 15yrs

Updated: 11th July 2017 - First Published: 23rd October 2015 Following yesterday’s call for providers to do more to encourage customers to switch current accounts, Consumer Intelligence has revealed figures that show the true extent of consumer apathy. Is it time to make a change? Read More...

Switch current account and save £70/year!

Updated: 22nd October 2015 - First Published: 22nd October 2015 The latest report from the Competition and Markets Authority has revealed that customers could save an average of £70 a year by switching current accounts, and those who use an overdraft could save even more. So, is it time to consider your options? Read More...

Current account fees are on the rise

Updated: 06th October 2015 - First Published: 06th October 2015 Do you pay a monthly fee for your current account, or are you regularly hit with a hefty overdraft charge? If so, you’re not alone, as our research shows that there’s been a clear rise in the cost of some current accounts in the last two years. Read More...

Do you keep to a budget?

Updated: 23rd September 2015 - First Published: 22nd September 2015 Many of us know that keeping an eye on our incomings and outgoings makes good financial sense, but how many of us actually make good on that promise to make a budget and stick to it? Read More...

Is it the end of free banking?

Updated: 18th April 2017 - First Published: 08th September 2015 This month marks the two-year anniversary of the Current Account Switch Guarantee, but while many consumers have already taken advantage and switched, even greater momentum could be caused by incoming changes to the retail banking market. Read More...

Contactless card limit rises to £30

Updated: 01st September 2015 - First Published: 01st September 2015 For those who regularly spend using contactless cards, we’ve got some great news – the limit has risen to £30! Previously it was only possible to use contactless for payments of £20 or less, so you can now spend more and enjoy the same convenience. Read More...

Weekday use is leading mobile payment growth

Updated: 14th August 2015 - First Published: 13th August 2015 Do you use a mobile payment service? If so, when? According to figures from Paym, weekdays are by far the most popular, with 73.7% of all payments during the first six months of this year being sent during the working week. Read More...

The digital revolution is underway

Updated: 29th July 2015 - First Published: 29th July 2015 How do you conduct your everyday banking? Heading to a branch could be a thing of the past – or at least only an occasional occurrence – with research from Halifax showing that the digital revolution is well and truly underway. Read More...

Consumers embrace mobile payments. Are you?

Updated: 24th July 2015 - First Published: 24th July 2015 Mobile payments have been taking the nation by storm recently, what with the launch of Paym last year, and Apple Pay hitting our shores just last week. But, are you taking advantage of the new technologies? Read More...

How Paym is helping the self-employed

Updated: 23rd July 2015 - First Published: 23rd July 2015 Have you heard of Paym? It’s the mobile payments service that allows you to send money to friends, family and even small business owners using just a mobile phone number, and as well as being convenient, it seems to be helping self-employed workers. Read More...

Overdraft fees at a new high – so be on your guard

Updated: 21st July 2015 - First Published: 21st July 2015 Overdrafts can be invaluable when used wisely, providing a useful shield against short-term financial shocks. However, while it used to be the case that those who planned their overdrafts would get a better deal, the tide could be starting to turn. Read More...

Apple Pay is here! Here's what you need to know...

Updated: 15th July 2015 - First Published: 14th July 2015 Apple Pay officially launches in the UK today, but just what is it, how does it work, and will you take advantage of it? We take a closer look… Read More...

What - or who - are challenger banks?

Updated: 14th December 2016 - First Published: 08th July 2015 There’s a lot going on in the world of challenger banks these days. They’re regularly topping the best buy tables and many are known for offering great service, but the question is, just what – or who – are these challengers? We take a closer look. Read More...

Current accounts are top fraud target

Updated: 03rd July 2015 - First Published: 03rd July 2015 Research from Experian shows that current accounts have become the most targeted financial product by fraudsters for the first time ever, so it’s even more vital to be on your guard. Read More...

Two-thirds of Brits don’t know their bank balance

Updated: 30th May 2017 - First Published: 02nd July 2015 Now that online banking and banking apps are growing in popularity, it’s never been easier to keep tabs on your money. However, it still seems that too few Britons have a realistic idea of how much money they have. Read More...

Mobile banking is number one

Updated: 20th November 2017 - First Published: 15th June 2015 Mobile banking has gradually seduced more and more customers, and has now been named as the leading way in which consumers manage their finances. Read More...

Mobile payments fuel bank account switching

Updated: 27th May 2015 - First Published: 22nd May 2015 Have you thought about switching bank accounts? If so, what’s your motivation? For some, the reason seems to be the chance to take advantage of mobile payments, with many choosing to switch if their provider didn't offer such a service. Read More...

Rise in mobile banking

Updated: 08th May 2015 - First Published: 08th May 2015 When was the last time you logged into your bank account using your mobile phone? Chances are, it was fairly recently, with research from Halifax finding that mobile phone log-ins in March soared by almost 100% compared with the previous year. Read More...

Is it time to change your bank account?

Updated: 29th November 2017 - First Published: 24th April 2015 When was the last time you changed your current account? For many people, it was probably several years ago, but with competition in the market becoming incredibly fierce, it could be time to re-consider your options… Read More...

Current account switch service “working well”

Updated: 23rd June 2017 - First Published: 13th March 2015 The current account switch service – designed to offer a quick, easy and error-free way to switch current accounts... Read More...

Consumers turn to debit cards for Christmas

Updated: 17th February 2015 - First Published: 17th February 2015 In the past it was common to turn to the plastic in our wallets to fund festive spending. This is still true today, but now we are more likely to fish out our debit cards, with debit card spending in December 2014 outstripping that of credit cards. Read More...

Are you a “one bank man”?

Updated: 13th February 2015 - First Published: 13th February 2015 Having all of your financial accounts in the same place may, on the surface, seem like a good way to stay on top of your finances, but this could mean that you end up missing out on the best deals. Read More...

How to profit from high interest current accounts

Updated: 05th February 2015 - First Published: 05th February 2015 High interest current accounts have taken the nation by storm, and with good reason. They offer in-credit interest of up to 5%, far more than any savings account on the market, and with a bit of careful planning, you could easily profit from them. Read More...

1.16m bank accounts switched in 2014

Updated: 22nd January 2015 - First Published: 22nd January 2015 Today the Payments Council published its latest Current Account Switch Service Dashboard (no.5), which reveals that even more of us are taking advantage of the Current Account Switch Service. Read More...

The end of free banking?

Updated: 18th April 2017 - First Published: 20th January 2015 Do you pay for your bank account? If so, it’s probably by choice rather than necessity, with many people still preferring to use a fee-free account. But, there are increasing fears that this may not be possible for long. Read More...

Paym is opened up to more customers

Updated: 19th November 2014 - First Published: 19th November 2014 How many times have you wished for an easier way to make payments? Well, thanks to Paym, paying friends and family can be as easy as keying in their mobile number, and now even more banking customers can benefit. Read More...

Growing interest in online banking

Updated: 12th November 2014 - First Published: 12th November 2014 Do you bank online? If not, then you could be persuaded in the not-too-distant future, as research from the Payments Council has found that a growing number of people are interested in giving it a go. Read More...

Current accounts to undergo competition review

Updated: 06th November 2014 - First Published: 06th November 2014 Activity in the current account sector has been ramping up over the last few months, but there are concerns that it isn’t working in the interests of consumers as much as it should. That’s why the regulators have stepped in. Read More...

Watch out for phone fraudsters

Updated: 30th October 2014 - First Published: 30th October 2014 Scammers and fraudsters are nothing new, but their tactics and methods are always changing and becoming ever more sophisticated. Now they are harnessing caller IDs to trick victims into handing over personal and sensitive information. Read More...

UK banks pass EBA stress test

Updated: 27th October 2014 - First Published: 27th October 2014 The European Banking Authority (EBA) has published its latest review into the financial health of the banks in the European Union, and all four of the UK banks subject to the review have passed the test. Read More...

8 things your bank will never ask you to do…

Updated: 12th April 2017 - First Published: 20th October 2014 The UK’s biggest banks have decided to publish a list of the things they would never ask their customers to do after a YouGov poll found that millions of account holders unwittingly leave themselves open to fraud. Read More...

Mobile banking on the rise

Updated: 17th October 2014 - First Published: 17th October 2014 Many of us rely on our smartphones in day-to-day life, whether that’s for communication, connectivity, banking activities, or even to shop. The latter two are becoming increasingly popular, with mobile banking officially on the rise. Read More...

1.2m people have switched bank accounts. Have you?

Updated: 15th October 2014 - First Published: 15th October 2014 The Payments Council has released its first full-year results (to the end of September 2014) for the Current Account Switch Service, finding that 1,203,334 switches took place during the 12-month period. Were you one of them? Read More...

More banks set to join the Paym family

Updated: 17th May 2017 - First Published: 14th October 2014 Sending a payment can sometimes be a faff, especially when you have to key in lengthy account numbers and sort codes. However, from today, all first direct customers will be able to sign up with mobile banking service Paym. Read More...

Monday morning rush to check bank balances

Updated: 28th February 2017 - First Published: 30th September 2014 The weekend passes by in a blur of nights out, leisurely dinners, impromptu shopping trips and days out, but then suddenly it’s Monday morning. As a result, large numbers of consumers frantically log on to their banking apps to check out the damage. Read More...

What would make you switch bank accounts?

Updated: 17th September 2014 - First Published: 17th September 2014 The possibility of switching bank accounts has come under the spotlight over the last year, as the Current Account Switch Service has made it easier than ever to do just that. But just what would tempt you to switch? Read More...

Contactless payments launch across London travel

Updated: 17th September 2014 - First Published: 17th September 2014 Fed up with topping up your Oyster Card or finding you have zero balance when you’re running late? Well there’s good news for all of you frazzled London commuters out there – payments have now gone contactless. Read More...

1.1 million banking customers make the switch

Updated: 12th September 2014 - First Published: 12th September 2014 It’s been a year since the Current Account Switch Service was launched, and it looks like things going well – in the first full 11 months (1st October 2013 to 31st August 2014), 1.1 million customers have taken the plunge and switched accounts. Read More...

Access your bank accounts – using your fingertips

Updated: 05th September 2014 - First Published: 05th September 2014 Technology has completely transformed the way we bank, and now it looks like technology could be changing things again – Barclays will soon be implementing systems that will allow some customers to access their accounts using just their fingertips. Read More...

Could you be better off switching bank accounts?

Updated: 01st September 2014 - First Published: 01st September 2014 There’s a definite surge of interest in bank accounts at the moment, and providers are trying harder than ever to compete for your business. So, could you be better off by switching? Read More...

Consumers using cards more, but for smaller buys

Updated: 12th August 2014 - First Published: 12th August 2014 How often do you use your credit or debit card? Chances are, it’s quite a lot. Card payments are increasingly becoming the method of choice for a lot of consumers, and it isn’t only for high-value purchases either. Read More...

1 million people using new mobile payments service

Updated: 07th August 2014 - First Published: 07th August 2014 The Payments Council has just released its update on Paym, the new mobile banking service that offers a secure way to pay using just a mobile phone number. Well, more than 1 million people have so far registered to use it – are you one of them? Read More...

The current account charges that don’t add up

Updated: 28th July 2014 - First Published: 28th July 2014 Current accounts have hit the headlines a lot recently. High-interest accounts have garnered a lot of attention while the switching process and challenger banks have also been in the news, but unfortunately that news hasn’t always been positive. Read More...

Current account market set for competition inquiry

Updated: 22nd July 2014 - First Published: 21st July 2014 A new financial watchdog has said it could launch a full-blown investigation into high street banks which it believes are strangling competition in the current account market. Read More...

600,000 switch current accounts in six months

Updated: 17th July 2014 - First Published: 17th July 2014 Almost 600,000 people have switched their current account provider to a better deal in the first half of the year, a rise of 16% since the introduction of the new Current Account Switch Service in September last year. Read More...

Online banking transactions near £1 billion a day

Updated: 09th July 2014 - First Published: 09th July 2014 These days a lot of us are glued to our smartphones, tablets and various other mobile devices. In fact, many carry out their day-to-day activities using the wonders of digital technology, and it seems that mobile banking is definitely on the rise. Read More...

AUDIO: How to choose a new current account

Updated: 07th December 2017 - First Published: 26th June 2014 Has the raft of new current account launches over the last few months left you wondering where to turn? From high-interest accounts to those that offer generous reward schemes, it can be difficult to know which one’s right for you. Read More...

“Midata” current account service set to launch

Updated: 25th June 2014 - First Published: 25th June 2014 A Government-backed current account comparison service has moved a step closer to being launched, it was announced yesterday, after a key industry agreement with several of the UK’s largest current account providers has been secured. Read More...

Growth in card spending hits 3-year high

Updated: 16th June 2014 - First Published: 16th June 2014 These days more and more of us are turning to cards rather than cash when we get to the tills, and figures from The UK Cards Association have revealed just how quickly this is happening. Read More...

Top 5 high interest bank accounts

Updated: 12th April 2017 - First Published: 13th June 2014 There are some high interest bank accounts that provide the perfect hassle-free alternative to ensure you get the most from your money. Read More...

Current account market gets competitive

Updated: 10th June 2014 - First Published: 10th June 2014 Over the last few months there’s been a surge of activity in the current account market, and the latest addition has shaken it up once again. Read More...

Do you flash the cash – or the plastic?

Updated: 02nd June 2014 - First Published: 02nd June 2014 The days of needing to have cash to hand at all times have long gone. Now, wallets tend to be dominated by money in the plastic form as consumers are increasingly reliant on card payment, with retailers making it easier and more convenient than ever. Read More...

1 in 4 set to make mobile payments

Updated: 28th April 2014 - First Published: 28th April 2014 The new mobile payments service, known as Paym, is set to launch tomorrow, and it could be fairly well received - a survey from Consumer Intelligence has revealed that one in four banking customers (25%) intend to use the service. Read More...

Payment errors: What can you do?

Updated: 12th April 2017 - First Published: 25th April 2014 Have you ever clicked ‘send’ on an email and realised it’s gone to the wrong person? The result can be potentially annoying or embarrassing. But what happens if you click that button on a large payment and realise you’ve sent it to the wrong account? Read More...

Get ready for Paym

Updated: 23rd April 2014 - First Published: 23rd April 2014 The new mobile payment service, known as Paym, is set to launch in less than a week. So just what is Paym, how does it work and what do you need to do to be prepared? Well, here’s a quick overview to keep you in the know… Read More...

Have you switched bank account yet? 609,000 have..

Updated: 17th April 2014 - First Published: 11th April 2014 The Payments Council has just released results of the first six months of the new current account switch service, showing the number of people that have switched accounts since its launch. Read More...

The 5% home for your money

Updated: 10th April 2014 - First Published: 10th April 2014 The TSB Classic Plus account was launched just last week but has taken the market by storm, being the only current account available that offers 5% interest on credit balances up to £2,000 – with no end date in sight. Read More...

New mobile payment service gets launch date

Updated: 03rd April 2014 - First Published: 03rd April 2014 Mobile banking is rapidly growing in popularity, and now there’s a system that will allow customers to easily make mobile payments to each other – Paym. Read More...

Will new bank branches increase competition?

Updated: 31st March 2014 - First Published: 31st March 2014 It usually goes without saying that increased competition means better service and products, so why aren’t more people welcoming the Government’s proposition of new high street bank branches? Read More...

Co-op reveals further £400 million shortfall

Updated: 24th March 2014 - First Published: 24th March 2014 Debt-laden Co-op Bank’s problems are deepening as it reveals it needs to find a further £400 million to cover mis-selling and mis-conduct payments. Read More...

Don’t be a victim of banking fraud

Updated: 18th March 2014 - First Published: 18th March 2014 Shielding your PIN as you get cash out the ATM is a banking skill we’ve all been practising for years, but as technology improves so do the skills of fraudsters, and we need to be aware to keep one step ahead of them. Read More...

Get 5% from savings – without a savings account

Updated: 12th May 2017 - First Published: 13th March 2014 Savers have long been suffering from paltry savings rates, with it becoming increasingly difficult to find an account that can offer a meaningful return. But, a surprising hero has come to save the day – the humble current account. Read More...

Current account market gets a shake-up

Updated: 11th March 2014 - First Published: 11th March 2014 There’s been a flurry of activity in the current account market over the last few months, with banks and building societies all trying to compete for your money. Read More...

The changing face of UK banking

Updated: 25th February 2014 - First Published: 25th February 2014 Smartphones are becoming a staple of everyday living. It’s no wonder, then, that so many consumers choose to conduct a large proportion of their daily lives through the wonders of apps, with mobile banking becoming increasingly popular Read More...

Banks offering helping hand to flood victims

Updated: 21st February 2014 - First Published: 20th February 2014 With thousands of householders being left devastated by recent flooding, thoughts could well be turning to how they’re going to cope financially. Luckily banks are coming to the rescue – by offering financial support to flood victims. Read More...

Co-op customers have their say

Updated: 17th February 2014 - First Published: 17th February 2014 It can’t be denied that 2013 wasn’t the best year for the Co-operative Bank. In fact, its chief executive has gone so far as to say that it was the worst year in the bank’s 170-year history, which is why consumers are being asked to have their say. Read More...

Be prepared for unexpected banking charges

Updated: 12th April 2017 - First Published: 04th February 2014 When consumers entrust their hard-earned cash with a bank or building society they would usually hope it to be safely stored until needed, but instead many are losing out due to bank charges. Read More...

Jobs axed across UK banks

Updated: 29th January 2014 - First Published: 29th January 2014 Soon after Lloyds Banking Group announced it is to cut over 1000 jobs, Barclays has followed suit. Read More...

Lloyds “sorry” over debit card glitches

Updated: 27th January 2014 - First Published: 27th January 2014 Lloyds Banking Group has apologised to TSB customers after an IT glitch led to debit card transactions and ATM withdrawals being declined for several hours on Sunday afternoon. Read More...

Current Account Switch Service stats revealed

Updated: 17th January 2014 - First Published: 17th January 2014 The Payments Council has just released its first quarterly report which shows that the new current account switch service, which was launched in September, has got off to an “encouraging start”. Read More...

Banking app given go-ahead

Updated: 16th January 2014 - First Published: 16th January 2014 A smatphone app that allows shoppers to pay for goods via a direct link with their current account has been given the go-ahead by some of the UK’s largest banks. Read More...

Bank accounts give savings a run for their money

Updated: 27th December 2013 - First Published: 27th December 2013 If you’re struggling to find a savings account that pays an eye-catching rate, the rather surprising news is that it might be time to consider a new current account. Read More...

Bank of Scotland customers set to be rewarded

Updated: 21st April 2017 - First Published: 16th December 2013 Bank of Scotland has recently announced its new customer rewards programme, set to launch in January, giving customers the chance to earn up to 15% cashback as they shop. Read More...

RBS meltdown – were you affected?

Updated: 09th October 2017 - First Published: 11th December 2013 RBS and its network of banks were hit by a catalogue of disasters last week. Not only did systems go down on Cyber Monday, but a separate cyber attack on NatWest’s site on Friday left the online banking facility unusable. Read More...

RBS/NatWest plagued by more IT problems

Updated: 03rd December 2013 - First Published: 03rd December 2013 On the busiest day of the year for online shopping thousands of NatWest and Royal Bank of Scotland customers were unable to use their debit cards due to “technical issues”. Read More...

Co-op losing bank account customers

Updated: 29th November 2013 - First Published: 29th November 2013 The Co-operative Bank has revealed that it is losing current account customers following a number of revelations, including the arrest of its former chairman as well as concerns over its ability to keep its ethical stance. Read More...

Changes for Nationwide’s savings customers

Updated: 26th July 2017 - First Published: 28th November 2013 Nationwide has recently announced plans to simplify some of its savings products to help customers, both new and existing, manage their accounts more easily. Read More...

Govt to investigate Co-op Bank

Updated: 25th November 2013 - First Published: 25th November 2013 Chancellor George Osborne has announced that the Government will be investigating what went on at the Co-operative Bank in the run-up to the discovery of its £1.5 billion capital shortfall as well as the appointment of former chairman Paul Flowers. Read More...

Barclays to cut 1,700 frontline jobs

Updated: 15th November 2013 - First Published: 15th November 2013 Barclays Bank has just announced its intention to cut 1,700 frontline jobs from across its branch network. Staff affected are set to include cashiers, personal bankers, branch managers and operational specialists. Read More...

Lloyds launches current account cashback scheme

Updated: 07th August 2017 - First Published: 14th November 2013 Since the launch of the Current Account Switch Service, banks are doing more to try and tempt consumers to switch – or stay put. As a result the packages on offer are becoming increasingly competitive. Read More...

Barclays to open branches in Asda stores

Updated: 08th November 2013 - First Published: 08th November 2013 From early next year both new and existing customers of Barclays will be able to visit a bank branch within their local Asda supermarket. Read More...

Co-op Bank to cut branch network by 15%

Updated: 25th September 2017 - First Published: 04th November 2013 The Co-operative Bank has announced plans to reduce its branch network by at least 15% by the end of 2014, with job cuts set to be an inevitable side effect. Read More...

How to get out of the overdraft cycle

Updated: 27th April 2017 - First Published: 29th October 2013 A recent survey conducted by budgeting account provider thinkmoney has revealed the worrying trend of people relying on their overdraft, with nearly one in ten being overdrawn all the time. Read More...

Lloyds sets aside a further £750m for PPI

Updated: 29th October 2013 - First Published: 29th October 2013 Lloyds Banking Group has revealed that is has set aside an additional £750 million to compensate customers who were mis-sold payment protection insurance (PPI). Read More...

Shoppers plan on spending less this Christmas

Updated: 29th October 2013 - First Published: 29th October 2013 Shoppers are planning to spend an average of £488 on Christmas this year, 7% down on 2012’s figure of £526, according to research from HSBC. Read More...

1 in 5 ready to switch current account

Updated: 25th October 2013 - First Published: 25th October 2013 According to research from M&S Bank, one-in-five current account holders are ready to make the switch to a new account – and it’s the launch of the Current Account Switch Service that’s fuelling their decision. Read More...

89,000 current account switchers in 4 weeks

Updated: 22nd October 2013 - First Published: 22nd October 2013 Figures released by the Payments Council today show that the new Current Account Switch Service is performing well, with 89,000 consumers switching their account in the first four weeks. Read More...

Co-op Group loses control of Co-op Bank

Updated: 11th July 2017 - First Published: 21st October 2013 It was announced today that Co-op Group, current owner of Co-op Bank, will not retain control after the £1.5 billion rescue plan has been implemented. Read More...

Banks urged to “clear up” their account packages

Updated: 14th October 2013 - First Published: 14th October 2013 Paid-for bank accounts, which offer a package of insurance deals and similar incentives and can cost up to £300 per year, are coming under the spotlight as consumer groups urge banks to clear up their policies. Read More...

Current Account Switch Service “operating smoothly

Updated: 30th September 2013 - First Published: 30th September 2013 The Payments Council confirmed that, just over a week after launch, the Current Account Switch Service was progressing nicely. Read More...

Top 6 bank accounts for switching

Updated: 24th September 2013 - First Published: 24th September 2013 Switching bank accounts has never been easier or faster thanks to the new Current Account Switch Service. This free scheme means the once-daunting task of changing bank accounts will now be completed in seven working days or less. Read More...

Barclays reacts to customer feedback

Updated: 22nd May 2017 - First Published: 23rd September 2013 Barclays Bank has announced it will be reviewing all overdraft charges and fees following customer feedback received through its Your Bank initiative. Read More...

RBS makes £630m from Direct Line sale

Updated: 20th September 2013 - First Published: 20th September 2013 Royal Bank of Scotland (RBS) has sold 20% of the shares it holds in the insurance firm Direct Line for £630 million. Read More...

Audio: New 7-day bank account switching

Updated: 20th September 2013 - First Published: 20th September 2013 Rachel Springall, finance expert at Moneyfacts.co.uk, speaks to BBC Radio Norfolk’s Matthew Gudgin about the new seven-day current account switching service launched this week. Read More...

Infographic: Switch your current account in 7 days

Updated: 19th September 2013 - First Published: 18th September 2013 Switching your current account has never been easier or faster thanks to the new Current Account Switch Service. This free service means the once daunting task of changing current accounts will now be completed in seven days Read More...

Government sells Lloyds Banking stake

Updated: 17th September 2013 - First Published: 17th September 2013 The Government has sold 6% of the shares it holds in Lloyds Banking Group, cutting its stake in the group from 38.7% to 32.7%. Read More...

7-day bank account switching from today

Updated: 16th September 2013 - First Published: 16th September 2013 From today, switching bank accounts will be easier and faster than ever before thanks to the new Current Account Switch Service. Read More...

Plastic banknotes by 2016?

Updated: 27th November 2017 - First Published: 11th September 2013 The Bank of England (BoE) is considering replacing the current cotton paper banknotes with ones made of polymer, a type of plastic. Read More...

TSB back on the high street

Updated: 09th September 2013 - First Published: 09th September 2013 From today the TSB brand makes its reappearance on the high street. Read More...

PPI claims soar to new highs

Updated: 04th September 2013 - First Published: 04th September 2013 The Financial Ombudsman Service (FOS) received a record number of mis-sold Payment Protection Insurance (PPI) complaints in the first six months of this year. Read More...

Lloyds boss promises seamless Lloyds TSB split

Updated: 23rd October 2017 - First Published: 04th September 2013 Lloyds Banking Group’s chief executive has promised Lloyds TSB customers they will face a seamless transition when the new TSB bank is launched next week. Read More...

Top bank accounts for switching

Updated: 02nd September 2013 - First Published: 02nd September 2013 In less than two weeks’ time switching bank accounts will be simpler and easier than ever before. Read More...

Co-op Bank reports £709m losses

Updated: 29th August 2013 - First Published: 29th August 2013 The Co-operative Bank has reported a pre-tax loss of £709 million for the first six months of this year. Read More...

Telephone bank scams cost victims £7 million

Updated: 29th August 2013 - First Published: 29th August 2013 People have been warned to be on their guard for fraudsters posing as someone from their bank or building society’s fraud investigation team. Read More...

Earn 15% cashback with Halifax

Updated: 12th December 2017 - First Published: 28th August 2013 Halifax has announced a new scheme that will allow its customers to earn up to 15% cashback when using a Halifax debit or credit card at a number of leading high-street stores. Read More...

Top 5 student bank accounts

Updated: 24th May 2017 - First Published: 27th August 2013 For many young people, venturing into higher education signals a transition into the adult world of financial responsibility and planning. Read More...

FCA probes mobile banking safety

Updated: 27th August 2013 - First Published: 27th August 2013 The Financial Conduct Authority (FCA) will be investigating whether banks and building societies are doing enough to protect consumers from mobile banking fraud. Read More...

Clydesdale Bank’s credit rating cut

Updated: 02nd August 2017 - First Published: 27th August 2013 Clydesdale Bank’s credit rating has been downgraded three notches by the credit ratings agency Moody’s. Read More...

40% drop in bank branches since 1989

Updated: 20th August 2013 - First Published: 20th August 2013 The UK has lost 40% of its bank and building society branches since 1989, according to new research Read More...

Card payments set to overtake cash

Updated: 20th August 2013 - First Published: 20th August 2013 Card payments are set to overtake cash transactions within the next decade, according to new research. Read More...

Weigh up the benefits with current accounts

Updated: 24th July 2017 - First Published: 19th August 2013 The world of current accounts has changed immensely over the past few years, with many accounts now offering generous benefit packages. Read More...

Beware of fake bank website

Updated: 21st July 2017 - First Published: 19th August 2013 The Financial Conduct Authority (FCA) has issued a warning about a fake website very similar to that of Shawbrook Bank. Read More...

Launch date set for fast bank switching

Updated: 16th August 2013 - First Published: 16th August 2013 The new current account switch service that will see banks and building societies complete the switching process in seven days is due to go live in one month’s time from today. Read More...

Lloyds and TSB split: What it means for you

Updated: 05th May 2017 - First Published: 13th August 2013 In less than a month Lloyds TSB branches will be split and re-branded as either Lloyds Bank or TSB. Read More...

First direct ups switching incentive

Updated: 28th July 2017 - First Published: 12th August 2013 First direct has upped the cash incentive it offers new customers for switching to its 1st Account from £100 to £125. Read More...

Get cashback on a NatWest/RBS debit card

Updated: 17th August 2017 - First Published: 12th August 2013 From today, NatWest and Royal Bank of Scotland (RBS) customers will be able to use their debit cards to get cash back at a selection of retailers across the UK. Read More...

Barclays set to launch Rights Issue

Updated: 30th July 2013 - First Published: 30th July 2013 Barclays Bank has announced it intends to raise £5.8 million by way of a Rights Issue to fill a shortfall in capital. Read More...

RBS hit with FCA fine

Updated: 25th July 2013 - First Published: 25th July 2013 The Financial Conduct Authority (FCA) has handed the Royal Bank of Scotland (RBS) a £5.6 million fine for breaching regulatory rules on transaction reporting. Read More...

Current Account Switch Service providers confirmed

Updated: 23rd July 2013 - First Published: 23rd July 2013 All the companies confirmed as taking part will, with effect from September this year, be obliged to adhere to the service rules, which stipulate that a customer’s current account switch must take no longer than seven working days. Read More...

PPI complaints still soaring

Updated: 19th July 2013 - First Published: 17th July 2013 The Financial Ombudsman Service (FOS) is still receiving more than 2,000 consumer complaints a day regarding miss-sold Payment Protection Insurance (PPI). Read More...

Co-op launches investigation into bank failings

Updated: 12th July 2013 - First Published: 12th July 2013 An independent enquiry into failings that led to the £1.5-billion capital shortfall at The Co-operative Bank is due to be launched in September. Read More...

Fake bank emails most common type of fraud

Updated: 11th July 2013 - First Published: 11th July 2013 Three quarters (73%) of the UK’s population has experienced some type of fraud attempt, according to recent research. Read More...

Moody’s upgrades UK banking outlook

Updated: 10th July 2013 - First Published: 10th July 2013 The global ratings agency Moody’s announced today that it has upgraded its outlook for the UK’s banking industry from negative to stable. Read More...

Chancellor backs plans for tougher banking rules

Updated: 08th July 2013 - First Published: 08th July 2013 Chancellor George Osborne today announced that the Government will support most of the recommendations proposed by the Parliamentary Commission for Banking Standards. Read More...

Base rate remains at 0.50%

Updated: 04th July 2013 - First Published: 04th July 2013 The Bank of England’s (BoE) Monetary Policy Committee (MPC) has voted to keep interest rates on hold for the 52nd consecutive month. Read More...

Top 5 Student Current Accounts

Updated: 04th July 2013 - First Published: 04th July 2013 For many young people, venturing into higher education signals a transition into the adult world of financial responsibility and planning. Read More...

Nottingham and Shepshed merger completed

Updated: 02nd July 2013 - First Published: 02nd July 2013 Nottingham Building Society and Shepshed Building Society have successfully merged, just over six months after announcing their intentions to amalgamate. Read More...

Mark Carney becomes Bank of England Governor

Updated: 01st July 2013 - First Published: 01st July 2013 The former head of the Bank of Canada, Mark Carney, made his debut today as the new Governor of the Bank of England (BoE). Read More...

Osborne announces plan to sell Lloyds shares

Updated: 20th June 2013 - First Published: 20th June 2013 The Chancellor, George Osborne, has confirmed the Government is considering the sale of Lloyds Banking Group shares to the public. Read More...

Commission calls for reckless bankers to be jailed

Updated: 19th June 2013 - First Published: 19th June 2013 A report into the future of banking standards has suggested senior bankers who are found to have demonstrated “reckless misconduct” should be held fully responsible for their actions and even face jail terms. Read More...

Co-op unveils plans to plug capital shortfall

Updated: 17th June 2013 - First Published: 17th June 2013 Comprehensive plans have been announced today as to how The Co-operative Bank will fill its capital shortfall. Read More...

Hester to step down at RBS

Updated: 13th June 2013 - First Published: 13th June 2013 The chief executive of the Royal Bank of Scotland Group, Stephen Hester, announced last night that he would be standing down from his position at the bank by the end of this year. Read More...

Shepshed BS and Nottingham BS merger to go ahead

Updated: 12th June 2013 - First Published: 12th June 2013 The proposed merger of Shepshed Building Society and Nottingham Building Society will go ahead thanks to financial regulatory approval. Read More...

Guarantee for ‘hassle-free’ switching issued

Updated: 11th June 2013 - First Published: 11th June 2013 The Payments Council has published its Current Account Switch Guarantee and Trustmark, designed to provide reassurance and confidence to customers when switching their bank accounts. Read More...

Call for sale of RBS and Lloyds shares to taxpayer

Updated: 10th June 2013 - First Published: 10th June 2013 Millions of people in the UK could receive shares in the Royal Bank of Scotland (RBS) and Lloyds Banking Group under new proposals by the think-tank, Policy Exchange. Read More...

Banks agree to use ‘re-try’ payment system

Updated: 07th June 2013 - First Published: 07th June 2013 Seven of the UK’s largest financial institutions have agreed with the Financial Conduct Authority (FCA) to use a same day ‘re-try’ system when processing customers’ Direct Debits, future dated bill payments and standing orders. Read More...

Customers encounter issues with NatWest app

Updated: 31st May 2013 - First Published: 31st May 2013 NatWest customers have been left frustrated and angry after technical issues left them unable to access its banking app. Read More...

RBS declines bid for branches

Updated: 31st May 2013 - First Published: 31st May 2013 Royal Bank of Scotland (RBS) has reportedly rejected an offer to purchase over 300 of its high street branches. Read More...

Co-op Bank appoints new chief executive

Updated: 28th May 2013 - First Published: 28th May 2013 The Co-operative Bank has announced the appointment of Niall Booker as its new chief executive, a fortnight after the Group’s credit rating was downgraded to junk status by the ratings agency Moody’s. Read More...

Co-op set to launch talking ATMs

Updated: 23rd May 2013 - First Published: 23rd May 2013 The Co-operative Bank has confirmed it is to provide talking cash machines for blind and partially-sighted customers. Read More...

MPC split over further quantitative easing

Updated: 28th February 2017 - First Published: 22nd May 2013 The Bank of England’s Monetary Policy Committee (MPC) remained divided earlier this month as to whether more money should be injected into the UK’s economy via the Government’s quantitative easing (QE) programme. Read More...

Current account holders seek long-term value

Updated: 20th May 2013 - First Published: 20th May 2013 A growing number of customers intend to shop around and choose a current account that offers the best value in terms of ongoing benefits, rather than upfront rewards. Read More...

Current account holders favour familiarity

Updated: 16th May 2013 - First Published: 16th May 2013 A study by first direct has found a quarter of current account customers in the UK chose their existing account based on the provider being a well-known high street name. Read More...

Post Office unveils current accounts

Updated: 13th May 2013 - First Published: 13th May 2013 The Post Office has launched three brand new current accounts today, broadening its range of personal finance products. Read More...

Moody’s downgrades The Co-operative Bank rating

Updated: 10th May 2013 - First Published: 10th May 2013 The Co-operative Banking Group has expressed its disappointment at having its credit rating downgraded to junk status. Read More...

EU outlines new banking plans

Updated: 08th May 2013 - First Published: 08th May 2013 The European Commission is reportedly working on a set of proposals which will allow all European residents to open and access a basic bank account in any EU country. Read More...

RBS reports rise in profit

Updated: 03rd May 2013 - First Published: 03rd May 2013 The state-owned Royal Bank of Scotland has announced quarterly pre-tax profits of £826 million. Read More...

Current accounts take the lead in rate race

Updated: 24th November 2017 - First Published: 02nd May 2013 Savings rates have reduced greatly, leaving many investors at a loss as to where they can achieve a competitive rate of return. Read More...

Lloyds profits climb to £2 billion

Updated: 30th April 2013 - First Published: 30th April 2013 Pre-tax profits at Lloyds Banking Group rose to £2.04 billion during quarter one of this year. Read More...

BBA sets up banking Consumer Panel

Updated: 18th April 2017 - First Published: 26th April 2013 The British Bankers’ Association (BBA) has launched a Consumer Panel aimed at improving the services offered to high street banking customers. Read More...

Co-op pulls out of Lloyds branch sale

Updated: 24th April 2013 - First Published: 24th April 2013 The sale of 632 Lloyds Banking Group branches has suffered a set-back after the Co-operative Bank announced it was pulling out of a planned deal with the state-owned bank. Read More...

Post Office to enter current account market

Updated: 11th April 2013 - First Published: 11th April 2013 The Post Office has announced it will be launching a current account this spring, broadening its range of personal finance products even further. Read More...

Financial regulator publishes papers

Updated: 10th April 2013 - First Published: 10th April 2013 The new City watchdog, the Financial Conduct Authority (FCA), has published two papers designed to gather an insight into how consumers choose financial products and how it can impact competition amongst institutions such as banks. Read More...

Call for former HBOS chiefs to be banned

Updated: 05th April 2013 - First Published: 05th April 2013 The Banking Standards Commission (BSC) has claimed the former heads of HBOS were to blame for the bank’s collapse in 2008 and called for all three to be banned from working in the banking industry. Read More...

Base rate remains on hold

Updated: 04th April 2013 - First Published: 04th April 2013 The Bank of England’s Monetary Policy Committee has voted to keep interest rates on hold at 0.50% for the 49th consecutive month, as widely expected. Read More...

Laiki Bank deposits transferred to Bank of Cyprus

Updated: 11th December 2017 - First Published: 02nd April 2013 Customers of the UK branch of Laiki Bank will have their savings deposits transferred to the wholly-owned UK subsidiary of Bank of Cyprus Public Company Limited. Read More...

Current accounts take the lead in rate race

Updated: 27th November 2017 - First Published: 26th March 2013 If you’re struggling to find a savings account that pays an eye-catching rate, the rather surprising news is that it might be time to consider a new current account. Read More...

RBS launches money transfer app

Updated: 14th March 2013 - First Published: 14th March 2013 Royal Bank of Scotland has provisionally introduced a banking app which allows customers to transfer money with their Smartphones to friends and families, simply by entering their mobile phone number. Read More...

Four-year anniversary of base rate at 0.50%

Updated: 07th March 2013 - First Published: 07th March 2013 The Bank of England base rate has remained on hold for the forty-eighth consecutive month, marking four years since it was cut to it historic low of 0.50%. Read More...

RBS apologises for disruption

Updated: 07th March 2013 - First Published: 07th March 2013 Royal Bank of Scotland has issued an apology after technical problems meant its customers could not make cash withdrawals, card payments or conduct telephone or online banking on Wednesday evening. Read More...

HSBC profits fall to £14 billion

Updated: 04th March 2013 - First Published: 04th March 2013 The run of banks announcing their yearly financial results continued today, with HSBC reporting a pre-tax profit of £17 billion for 2012, a 6% fall compared with the previous year’s results. Read More...

Lloyds Banking Group suffers £570 million loss

Updated: 01st March 2013 - First Published: 01st March 2013 Total provisions of £3,575 billion to cope with the compensating of mis-sold payment protection insurance (PPI) contributed towards a £570 million loss for Lloyds Banking Group last year. Read More...

RBS reports pre-tax loss of £5.17 billion

Updated: 28th February 2013 - First Published: 28th February 2013 The chief executive of Royal Bank of Scotland, Stephen Hester, has warned of “choppy waters ahead” for the bank after it announced a £5.17 loss, its fifth annual loss since 2008 when the bank was bailed out by the taxpayer. Read More...

HSBC scraps staff sales incentives

Updated: 22nd February 2013 - First Published: 22nd February 2013 HSBC has confirmed it will no longer operate staff sales incentives, and will instead assess its staff on a customer satisfaction and quality of sales basis. Read More...

Lloyds Banking Group hit with £4.3 million fine

Updated: 19th February 2013 - First Published: 19th February 2013 Delays with redressing customers for mis-sold payment protection insurance (PPI) has resulted in Lloyds Banking Group (LBG) being fined £4.3 million by the Financial Services Authority (FSA). Read More...

RBS share ‘giveaway’ being considered

Updated: 18th February 2013 - First Published: 18th February 2013 The Chancellor of the Exchequer, George Osborne, has reportedly ordered officials at the Treasury to set up a plan whereby Royal Bank of Scotland shares will be given away to every taxpayer in the UK by 2015. Read More...

“Economic recovery in sight” – King

Updated: 11th October 2017 - First Published: 13th February 2013 The Governor of the Bank of England, Sir Mervyn King, has claimed the UK’s economy has “cause for optimism” and that a long awaited recovery is in sight, despite a prediction that inflation will worsen over the next two years. Read More...

Lloyds launches online sign language service

Updated: 11th February 2013 - First Published: 11th February 2013 Lloyds TSB has become the first financial services provider in the UK to offer an online banking service for its deaf customers. Read More...

Barclays increases mis-selling provisions

Updated: 12th June 2017 - First Published: 05th February 2013 Barclays has increased the amount of money it has set aside to deal with mis-sold products to businesses and consumers by £1 billion. Read More...

Osborne calls for tougher ring-fencing

Updated: 04th February 2013 - First Published: 04th February 2013 Chancellor George Osborne is expected to tell City traders today that the country’s largest banks will be broken up if they fail to adhere to new rules. Read More...

Banks commit to mobile payment service

Updated: 07th December 2016 - First Published: 01st February 2013 Eight UK banks have confirmed they will be taking part in the introduction of an industry-wide mobile payments services. Read More...

Changes still needed in current account market

Updated: 25th January 2013 - First Published: 25th January 2013 Significant changes within the current account market are still required to combat concerns regarding competition, according to a review published by the Office of Fair Trading (OFT) today. Read More...

Get paid for switching your current account

Updated: 24th April 2017 - First Published: 24th January 2013 Your parents probably opened a bank account for you when you were little, but would £125 cash be enough to switch now? Read More...

Hundreds of jobs under threat at Barclays

Updated: 23rd January 2013 - First Published: 23rd January 2013 Hundreds of investment banking staff at Barclays Bank are facing the prospect of losing their jobs following an operational review by the provider’s new chief executive, Antony Jenkins. Read More...

Santander in reported Clydesdale Bank bid

Updated: 21st January 2013 - First Published: 21st January 2013 Santander is rumoured to be considering a £2-billion takeover of Clydesdale and Yorkshire banks to help boost its business banking sector in the UK. Read More...

FSA sets out guidelines

Updated: 12th December 2017 - First Published: 17th January 2013 The Financial Services Authority (FSA) has published its final guidance on sales incentive programmes, including a list of examples of good and bad practice directed at financial institutions. Read More...

BBA proposes tough banking code of conduct

Updated: 17th May 2017 - First Published: 16th January 2013 The British Bankers’ Association (BBA) has proposed radical changes to strengthen ethical and professional standards in the banking industry. Read More...

HSBC to refund ‘forgotten’ cash

Updated: 12th April 2017 - First Published: 28th December 2012 HSBC has announced it will be offering automatic refunds to hundreds of thousands of customers who accidentally left money in HSBC cash machines between 2005 and 2011. Read More...

Banking proposals deemed “not tough enough”

Updated: 21st December 2012 - First Published: 21st December 2012 MPs have blasted proposals to reform the banking industry, claiming they fall short of expectations. Read More...

Lloyds halts packaged account sales

Updated: 19th July 2017 - First Published: 20th December 2012 Lloyds Bank Group will suspend all branch and telephone sales of packaged current accounts with effect from 1 January 2013. Read More...

Top tips for finding the best bank account

Updated: 02nd November 2012 - First Published: 02nd November 2012 The consumer watchdog Consumer Focus has warned of “dark clouds” brewing over the world of basic bank accounts. Read More...

Nationwide BS eyes up RBS branches

Updated: 25th September 2017 - First Published: 22nd October 2012 Nationwide Building Society is planning on bidding for 316 Royal Bank of Scotland branches, according to reports by the Sunday Times. Read More...

FSA “should have intervened” with RBS

Updated: 19th October 2012 - First Published: 19th October 2012 The Treasury Committee has released a report outlining what it considers to be failings by the Financial Services Authority (FSA) in relation to Royal Bank of Scotland’s takeover of the Dutch bank ABN AMRO and the bank’s subsequent downfall. Read More...

FCA able to instantly ban products

Updated: 17th October 2012 - First Published: 17th October 2012 The new regulator that will be replacing the Financial Services Authority (FSA) early next year will have the power to instantly ban unsuitable financial products that it considers a risk to consumers. Read More...

RBS moves closer to reprivatisation

Updated: 17th October 2012 - First Published: 17th October 2012 Royal Bank of Scotland (RBS) has today announced that it will be leaving the Government-backed Asset Protection Scheme (APS), moving it one step closer to once again being a private company. Read More...

Virgin Money to bid for RBS branches?

Updated: 15th October 2012 - First Published: 15th October 2012 Virgin Money may be planning on extending its branch network even further, with reports suggesting that the bank could bid for over 300 Royal Bank of Scotland (RBS) branches. Read More...

Barclays and ING Direct: How it affects you

Updated: 07th December 2016 - First Published: 11th October 2012 The news that Barclays is to buy ING Direct UK has raised concerns among ING Direct UK’s 1.5 million customers. Read More...

Barclays to focus on service not sales

Updated: 11th October 2012 - First Published: 11th October 2012 Barclays Bank has announced it will no longer reward staff commission for product sales, as part of a review into its incentive schemes. Read More...

PPI complaints set to double

Updated: 11th October 2012 - First Published: 11th October 2012 Complaints relating to miss-sold payment protection insurance (PPI) are expected to be double the figure initially predicted for this year, according to the Financial Ombudsman Service (FOS). Read More...

Sales incentives ditched by The Co-operative Bank

Updated: 10th October 2012 - First Published: 10th October 2012 The Co-operative Bank has ditched staff sales incentives across its UK branches, focusing instead on rewarding good customer service. Read More...

Rules relaxed to increase lending

Updated: 10th October 2012 - First Published: 10th October 2012 The Financial Services Authority (FSA) has relaxed its lending rules in an effort to boost lending amongst banks and building societies. Read More...

Barclays agrees to buy ING Direct UK

Updated: 09th October 2012 - First Published: 09th October 2012 Barclays has confirmed that it is to buy ING Direct UK, acquiring its £10.9 billion retail deposits and £5.6 billion mortgage book. Read More...

NatWest suspends emergency money app

Updated: 08th October 2012 - First Published: 08th October 2012 NatWest’s mobile phone application that lets current account customers withdraw cash without a debit card is being suspended due to fraud concerns. Read More...

HSBC pulls Sharia compliant products

Updated: 10th May 2017 - First Published: 05th October 2012 HSBC will no longer offer Islamic mortgages, loans and bank accounts following a review of its business. Read More...

Banks must be ‘socially useful’ – Barclays boss

Updated: 05th October 2012 - First Published: 05th October 2012 The chief executive of Barclays Group, Antony Jenkins, has claimed that the UK’s banks must become ‘socially useful’ in order to rebuild trust and integrity. Read More...

RBS facing £170 million loss

Updated: 04th October 2012 - First Published: 04th October 2012 Royal Bank of Scotland could suffer a loss of up to £170 million (€212 million) as a result of the Spanish housebuilder, Rivero y Soler’s collapse. Read More...

“Libor fixers should face prosecution” – Wheatley

Updated: 28th September 2012 - First Published: 28th September 2012 Head of conduct at the Financial Services Authority (FSA), Martin Wheatley, has claimed those responsible for rigging inter-bank lending rates should face court action. Read More...

Significant rise in financial service complaints

Updated: 27th September 2012 - First Published: 27th September 2012 Customer grievances within the financial services sector rose by 59% during the first six months of this year, driven largely by a surge of payment protection insurance (PPI) complaints. Read More...

RBS traders boasted about rate fixing

Updated: 27th September 2012 - First Published: 27th September 2012 Royal Bank of Scotland traders boasted about operating a rate fixing cartel, an investigation into the Libor fixing scandal has revealed. Read More...

Several thousand desert Ulster Bank

Updated: 18th December 2012 - First Published: 26th September 2012 Customers of Ulster Bank have expressed their dissatisfaction at the technical issues suffered this summer by taking their business elsewhere. Read More...

Business Bank is Government’s ‘top priority’

Updated: 25th September 2012 - First Published: 25th September 2012 The chief secretary to the Treasury, Danny Alexander, has confirmed that plans for a British Business Bank will be fast tracked, following reports that the £1 billion state-backed institution may not take effect until 2014. Read More...

Lib Dems back RBS break up

Updated: 25th September 2012 - First Published: 25th September 2012 The Liberal Democrats have called upon the Government to break up Royal Bank of Scotland (RBS) into a range of local community institutions. Read More...

Rachel Lomax declines Governor job

Updated: 16th November 2017 - First Published: 19th September 2012 The economist Rachel Lomax has confirmed she will not apply for the role of governor of the Bank of England, despite rumours she would take on Sir Mervyn King’s role next year. Read More...

Delay with nationalisation caused losses

Updated: 18th September 2012 - First Published: 18th September 2012 The Permanent Secretary to the Treasury, Sir Nicholas Macpherson, has claimed the Government should have nationalised Northern Rock sooner following its taxpayer bail-out. Read More...

Only 7% believe FSA is doing ‘good job’

Updated: 18th September 2012 - First Published: 18th September 2012 The Financial Services Authority (FSA) is doing a good job looking after consumers’ interests….according to just 7% of consumers. Read More...

The Co-operative Bank halts bankruptcy accounts

Updated: 18th September 2012 - First Published: 17th September 2012 The Co-operative Bank has confirmed that it will no longer offer basic bank accounts to new customers recovering from bankruptcy. Read More...

Post Office to accommodate HSBC customers

Updated: 14th December 2012 - First Published: 17th September 2012 Approximately nine million HSBC and first direct customers will be able to access their current accounts in Post Offices with effect from next spring. Read More...

Former HBOS head fined record £500,000

Updated: 26th May 2017 - First Published: 13th September 2012 Former HBOS senior executive Peter Cummings has been fined a record £500,000 by the Financial Services Authority (FSA) for his role in the failure of the bank during the financial crisis. Read More...

Wanted: New Bank of England Governor

Updated: 12th September 2012 - First Published: 12th September 2012 The search for a new Bank of England Governor will begin later this week, the Chancellor of the Exchequer announced yesterday. Read More...

Deluge of PPI complaints continues to grow

Updated: 11th September 2012 - First Published: 11th September 2012 The number of payment protection insurance (PPI) complaints received during the first half of this year has soared by 27%, as more people demand refunds for miss-sold policies. Read More...

Barclays pledges to clean up its image

Updated: 11th September 2012 - First Published: 11th September 2012 The new chief of Barclays, Antony Jenkins, has pledged to clean up the bank’s tarnished image following the recent run of scandals. Read More...

RBS faces fine over Libor fixing

Updated: 10th September 2012 - First Published: 10th September 2012 Royal Bank of Scotland is reportedly facing fines of up to £300 million for its involvement in the inter-bank rate fixing scandal. Read More...

UBS trader appears in court

Updated: 14th December 2012 - First Published: 10th September 2012 The trial of a former UBS trader is due to begin today, in relation to fraud and false accounting charges. Read More...

“Banks must be boring” – Lloyds boss

Updated: 07th September 2012 - First Published: 07th September 2012 The chief executive of Lloyds Banking Group, Antonio Horta-Osorio, has taken a stand against the tarnished image of the banking industry, calling for a return to simple banking to restore customer trust. Read More...

Barclays dismisses two senior staff

Updated: 05th September 2012 - First Published: 05th September 2012 Barclays has reportedly sacked two of its senior staff in the US as part of ongoing investigations into the Libor rate fixing scandal. Read More...

MP calls for clear information on refunds

Updated: 04th September 2012 - First Published: 04th September 2012 Royal Bank of Scotland (RBS) has been warned that it must provide customers affected by the recent technical issues with ‘clear and straightforward’ information on compensation. Read More...

MPs urge banks to lift ATM restrictions

Updated: 31st August 2012 - First Published: 31st August 2012 The Treasury Select Committee (TSC) has urged Royal Bank of Scotland and Lloyds Banking Group to relax its restrictions on customers withdrawing cash from rival-owned ATMs. Read More...

RBS criticised for new chief’s ‘golden hello’

Updated: 31st August 2012 - First Published: 31st August 2012 Royal Bank of Scotland has come under fire for paying its new retail banking boss, Ross McEwen, a £3.2 million ‘golden hello’. Read More...

HSBC hit by new allegations

Updated: 28th August 2012 - First Published: 28th August 2012 Another week, another scandal for HSBC, as accusations emerge that it assisted US clients with alleged tax evasion. Read More...

High street banking overhaul revealed

Updated: 14th December 2012 - First Published: 28th August 2012 Traditional methods of banking should be phased out to provide ‘greater variation’, according to a controversial report by the Boston Consulting Group. Read More...

RBS Libor fine could exceed Barclays’ penalty

Updated: 24th August 2012 - First Published: 24th August 2012 A Treasury Select Committee member has speculated that Royal Bank of Scotland (RBS) could incur fines beyond the £290 million imposed on Barclays, as a result of alleged involvement in inter-bank rate fixing. Read More...

HSBC bank outlook downgraded

Updated: 24th August 2012 - First Published: 24th August 2012 The ratings agency Standard & Poor’s (S&P) has downgraded HSBC’s outlook from stable to negative, amid fears that the bank could be damaged by money laundering allegations, currently under investigation in the US. Read More...

RBS faces probe from US regulators

Updated: 22nd August 2012 - First Published: 22nd August 2012 The run of bad publicity for Royal Bank of Scotland (RBS) shows no signs of abating, as it emerges that US regulators are to investigate potential breaches of US sanctions by the bank. Read More...

Former Barclays boss ‘disappointed’ by MPs’ claims

Updated: 14th December 2012 - First Published: 20th August 2012 The Treasury Select Committee (TSC) has published its report into Libor following the inter-bank rate fixing scandal. Read More...

Lenders embrace FSCS training scheme

Updated: 20th August 2012 - First Published: 20th August 2012 Nationwide Building Society, Royal Bank of Scotland and HSBC have confirmed they will be adopting the Financial Services Compensation Scheme’s (FSCS) latest training scheme. Read More...

Seven banks summoned by US regulators

Updated: 16th August 2012 - First Published: 16th August 2012 The Libor scandal has taken a new turn as seven major banks are summoned by US regulators investigating alleged inter-bank rate fixing. Read More...

£217 million fine for Standard Chartered

Updated: 15th August 2012 - First Published: 15th August 2012 Standard Chartered has been fined £217 million ($340 million) for allegedly hiding transactions with its Iranian clients. Read More...

Standard Chartered seek settlement

Updated: 14th December 2012 - First Published: 13th August 2012 Standard Chartered has said it is keen to reach a settlement with US regulators to resolve allegations that it breached US sanctions by allegedly hiding transactions with Iran. Read More...

Change promised by new Barclays chairman

Updated: 13th August 2012 - First Published: 13th August 2012 The new chairman of Barclays, Sir David Walker, has said that he plans to review the way the bank conducts itself to improve the public’s perception. Read More...

New proposals set out for Libor system

Updated: 10th August 2012 - First Published: 10th August 2012 Initial proposals to reform the flawed Libor rate setting process have been announced today by the managing director of the Financial Services Authority (FSA), Martin Wheatley. Read More...

Barclays appoints Sir David Walker as chairman

Updated: 10th August 2012 - First Published: 10th August 2012 The Morgan Stanley International chief, Sir David Walker, will replace Marcus Agius as chairman of Barclays in November. Read More...

Standard Chartered shares dive amid allegations

Updated: 07th August 2012 - First Published: 07th August 2012 Standard Chartered shares have fallen as accusations of money laundering and secret transactions with Iran emerge. Read More...

RBS to pay out £125 million in compensation

Updated: 03rd August 2012 - First Published: 03rd August 2012 Royal Bank of Scotland (RBS) has made provisions of £125 million to compensate customers affected by the technical issues which hit the bank in June. Read More...

Technical issues could affect credit ratings

Updated: 02nd August 2012 - First Published: 02nd August 2012 Recent technical problems at RBS, NatWest and Ulster Bank last month could have impacted on customer credit ratings. Read More...

Government plans to simplify savings

Updated: 02nd August 2012 - First Published: 02nd August 2012 The world of savings accounts could change dramatically if new Government plans for ‘no frills finances’ get the go ahead. Read More...

£80 billion lending scheme begins

Updated: 01st August 2012 - First Published: 01st August 2012 The Government’s multi-billion pound Funding for Lending Scheme comes in to effect today. Read More...

Libor rigging bankers could face jail

Updated: 31st July 2012 - First Published: 31st July 2012 The Serious Fraud Office (SFO) has said that legislation could be used to bring criminal charges against bankers responsible for the Libor rate rigging scandal. Read More...

Banks set aside billions to cope with PPI fallout

Updated: 13th December 2012 - First Published: 31st July 2012 The fallout of the payment protection insurance (PPI) scandal is proving costly for banks. Read More...

HSBC reports rise in profits

Updated: 14th December 2012 - First Published: 30th July 2012 HSBC’s pre-tax profits for the first half of this year have increased by 11% to £8.1 billion. Read More...

New rules for current account benefits

Updated: 20th July 2017 - First Published: 27th July 2012 The Financial Services Authority (FSA) has outlined a new set of rules regarding the potential mis-selling of current accounts with benefits, or packaged accounts as they are known. Read More...

Lloyds reports half year loss

Updated: 14th December 2012 - First Published: 26th July 2012 Lloyds Banking Group has reported a half year loss of £439 million. Read More...

Payments issue hits Nationwide Building Society

Updated: 25th September 2017 - First Published: 26th July 2012 Accountholders at Nationwide Building Society have experienced double debits due to a ‘human error’. Read More...

Building societies come out on top

Updated: 26th July 2012 - First Published: 26th July 2012 Building society customers are generally more satisfied than their banking counterparts. Read More...

Lloyds branch sale: what it means for you

Updated: 01st May 2014 - First Published: 26th July 2012 The Co-operative Bank is set to buy 632 Lloyds and Cheltenham & Gloucester branches in a deal that, if approved, will complete towards the end of 2013. Read More...

Future of free banking under threat

Updated: 25th July 2012 - First Published: 25th July 2012 The chairman of the Financial Services Authority (FSA) has called for an end to free banking, saying it represented a ‘flawed system’. Read More...

Co-op to acquire hundreds of Lloyds branches

Updated: 19th July 2012 - First Published: 19th July 2012 The Co-operative Bank has confirmed it is to take over 632 branches from the state-owned Lloyds Banking Group, affecting millions of customers. Read More...

M&S Money launches ‘new fashioned banking’

Updated: 06th February 2013 - First Published: 18th July 2012 The retail giant Marks & Spencer has released the details of its latest banking venture; the Premium Current Account. Read More...

OFT to investigate banks

Updated: 16th July 2012 - First Published: 16th July 2012 The Office of Fair Trading (OFT) has announced that it will be launching a fresh investigation into the current account market. Read More...

Diamond ‘dismayed’ at MPs’ claims

Updated: 11th July 2012 - First Published: 11th July 2012 The former chief executive of Barclays, Bob Diamond, has written a letter to MPs in response to claims he was “less than candid” during his interrogation by the Treasury Select Committee last week. Read More...

Barclays chief grilled by MPs

Updated: 14th December 2012 - First Published: 10th July 2012 The chairman of Barclays, Marcus Agius, has appeared in the hot seat before the Treasury Select Committee to answer MPs questions relating to the Libor rate fixing scandal which resulted in the bank being fined £290 million by regulators. Read More...

Asda expands into personal finance

Updated: 09th October 2017 - First Published: 09th July 2012 Asda customers will now be able to take advantage of a range of personal finance products following the launch of the new Asda Money service. Read More...

Barclays’ credit rating outlook lowered

Updated: 14th December 2012 - First Published: 05th July 2012 Ratings agencies Moody’s and Standard & Poor’s have lowered Barclays’ standalone credit rating from stable to negative stating that shareholder and political pressure was creating uncertainty about the bank’s future. Read More...

PPI continues to dominate complaints

Updated: 04th July 2012 - First Published: 04th July 2012 Figures released by the Financial Ombudsman service have shown that the mis-selling of payment protection insurance, PPI, is still the biggest cause of complaint. Read More...

Barclays chief executive steps down

Updated: 14th December 2012 - First Published: 03rd July 2012 The fall out of the Barclays rate fixing scandal has taken another turn, this time with the resignation of its chief executive, Bob Diamond. Read More...

Barclays chairman resigns

Updated: 11th July 2012 - First Published: 02nd July 2012 The chairman of Barclays, Marcus Agius, has resigned amid the rate-fixing scandal which saw the bank being fined a record £290 million by the Financial Services Authority (FSA). Read More...

Barclays hit with £59.5 million fine

Updated: 27th June 2012 - First Published: 27th June 2012 Barclays has been hit with the largest fine ever handed out by the Financial Services Authority (FSA) for serious misconduct. Read More...

RBS/NatWest problems continue into seventh day

Updated: 26th June 2012 - First Published: 26th June 2012 Royal Bank of Scotland and NatWest customers are facing a seventh day of current account problems, with a warning that the knock-on effects could take weeks to sort out. Read More...

UK banks downgraded by Moody’s

Updated: 22nd June 2012 - First Published: 22nd June 2012 Some of the UK’s largest banks have been downgraded by the credit agency Moody’s. Which? advises savers to take steps to protect their money. Read More...

NatWest/RBS account problems rumble on

Updated: 22nd June 2012 - First Published: 22nd June 2012 Problems with payments into NatWest accounts have continued into a third day, with many customers still unable to access their funds. Read More...

Should free banking be a right?

Updated: 07th December 2016 - First Published: 15th June 2012 89% of you believe that free banking is a right, showing the scale of the challenge facing banks and regulators who want us to pay for our bank accounts. Read More...

Current account fraud hits record high

Updated: 11th June 2012 - First Published: 11th June 2012 More people than ever are lying about their circumstances when trying to open a current account, new figures show. Read More...

Metro Bank to open more stores

Updated: 14th December 2012 - First Published: 11th June 2012 Metro Bank has announced that it is to open another seven stores in the South East after raising millions of pounds. Read More...

M&S to launch in-store banking

Updated: 14th December 2012 - First Published: 08th June 2012 Marks & Spencer has announced that it will be launching in-store banking this summer. Read More...

EU aims to protect taxpayers from failing banks

Updated: 06th June 2012 - First Published: 06th June 2012 The European Commission (EC) has today unveiled plans that aim to prevent future financial disasters of the scale seen in recent years. Read More...

Free banking a ‘dangerous myth’

Updated: 24th May 2012 - First Published: 24th May 2012 The man in line to become the chief regulator of the UK’s financial services has described free banking as ‘a dangerous myth’. Read More...

Santander credit rating downgrade: what it means

Updated: 20th April 2017 - First Published: 22nd May 2012 Worried about Santander’s credit rating downgrade? Find out what it means for you and how your UK savings are protected. Read More...

Taxpayers face £2 billion Northern Rock bill

Updated: 18th May 2012 - First Published: 18th May 2012 The decision to split the ailing bank Northern Rock into two parts could end up costing the UK taxpayer £2 billion. Read More...

Lloyds sets aside more millions for PPI claims

Updated: 01st May 2012 - First Published: 01st May 2012 Lloyds Banking Group has put aside another £375 million to pay Payment Protection Insurance (PPI) claims. Read More...

O2 Wallet brings money transfer by text messaging

Updated: 14th December 2012 - First Published: 26th April 2012 Bank customers will now be able to transfer up to £500 simply by sending a text message by using a new app from mobile operator O2. Read More...

Barclays adds £300 million to PPI provisions

Updated: 26th April 2012 - First Published: 26th April 2012 Barclays has revealed that it has set aside an extra £300 million to compensate customers mis-sold payment protection insurance (PPI). Read More...

Co-op/Lloyds deal to collapse?

Updated: 30th May 2017 - First Published: 13th April 2012 The Co-op’s intended purchase of 632 branches of Lloyds is rumoured to be on the verge of collapse. Read More...

Barclays ‘Pingit’ made available to all

Updated: 05th September 2017 - First Published: 13th April 2012 Barclays Pingit, the UK's first person-to-person service for sending and receiving money using mobile phone numbers, is now available to the customers of all UK banks and building societies. Read More...

NBNK makes bid for Lloyds branches

Updated: 14th December 2012 - First Published: 12th April 2012 Banking venture NBNK has confirmed that it has made a new offer to buy 632 branches from Lloyds. Read More...

PPI contributes to rise in financial complaints

Updated: 28th March 2012 - First Published: 28th March 2012 Worries over payment protection insurance saw the number of complaints about financial institutions increase significantly in the second half of 2011. Read More...

Economy pushing consumers into risky products

Updated: 14th December 2012 - First Published: 13th March 2012 The challenging economy is pushing some consumers to take risky financial products, the Financial Services Authority (FSA) has said. Read More...

Government paid back £2bn by ‘bad’ N.Rock bank

Updated: 14th December 2012 - First Published: 02nd March 2012 Northern Rock Asset Management (NRAM) paid back £2 billion of its Government loan last year. Read More...

European banks snap up cheap loans from ECB

Updated: 14th December 2012 - First Published: 29th February 2012 Banks from across the continent have snapped up cheap loans provided by the European Central Bank (ECB). Read More...

Northern Rock sale ‘best for taxpayer'

Updated: 28th February 2012 - First Published: 28th February 2012 The Chancellor’s decision to sell Northern Rock to Virgin Money was in the best interests of taxpayers, according to the body responsible for Government shareholdings in bailed out banks. Read More...

Financial complaints slow after PPI extension

Updated: 14th December 2012 - First Published: 28th February 2012 The number of complaints made to the financial ombudsman slowed in the second half of 2011 after financial firms were given more time to resolve grievances made about payment protection insurance (PPI). Read More...

Lloyds Banking Group posts £3.5 billion loss

Updated: 24th February 2012 - First Published: 24th February 2012 Lloyds Banking Group has announced losses of £3.5 billion for 2011, with payment protection insurance (PPI) payments making up the bulk of the shortfall. Read More...

Banks ‘need to do more’ for customers

Updated: 24th February 2012 - First Published: 24th February 2012 Banks have been told they ‘must do more’ for customers after new research found that millions of people would not recommend their provider to a friend. Read More...

Consumers warned over ‘hefty’ overseas charges

Updated: 20th February 2012 - First Published: 20th February 2012 Consumers are being warned to be aware of ‘exorbitant’ and ‘hefty’ charges when using their bank account abroad. Read More...

Pingit from Barclays – a new way to pay

Updated: 07th December 2016 - First Published: 17th February 2012 Barclays has launched a Smartphone app that lets you make fast cash transfers to friends, family and small businesses, using just a mobile phone number. Read More...

Product focus: Current account overdraft deals

Updated: 14th December 2012 - First Published: 17th February 2012 Research by Moneyfacts.co.uk has shown that that there are now more current accounts offering introductory overdraft deals compared to this time last year. Read More...

Barclays Bank profits fall to £5.9 billion

Updated: 13th July 2017 - First Published: 10th February 2012 Barclays Bank has announced that profits fell by 3% to £5.9 billion last year, despite an upturn in total income. Read More...

Banks vying for current account customers

Updated: 13th December 2012 - First Published: 10th February 2012 Consumers are currently the subject of a tug-of-war between providers looking to attract current account customers. Read More...

Lloyds Banking Group make more job cuts

Updated: 13th October 2017 - First Published: 07th February 2012 Lloyds Banking Group is to cut almost another 1,000 jobs as part of its cost-cutting effort, it has been announced. Read More...

NAB reviewing the future of Clydesdale Bank

Updated: 14th December 2012 - First Published: 07th February 2012 The future of Clydesdale and Yorkshire Banks are being considered by their Australian owner. Read More...

Call for mandatory bank accounts for 16 year olds

Updated: 11th July 2017 - First Published: 31st January 2012 The Government is facing calls to help youngsters better understand their finances by giving all 16 year olds a bank account. Read More...

New switching rules curry favour

Updated: 24th January 2012 - First Published: 24th January 2012 The vast majority of banking customers are positive about new changes that will soon be introduced to make it easier to switch bank accounts. Read More...

Reluctance to switch bank account revealed

Updated: 14th December 2012 - First Published: 19th January 2012 The reluctance of people to switch bank account providers has been illustrated in new research showing the average person in the UK has had their main bank account for more than 20 years. Read More...

Battle for current account customers hots up

Updated: 14th December 2012 - First Published: 18th January 2012 A battle between the major banks and building societies over current account customers appears to have broken out, much to the benefit of consumers, Moneyfacts.co.uk has revealed. Read More...

RBS announces another 3,500 job cuts

Updated: 14th December 2012 - First Published: 12th January 2012 The majority public-owned Royal Bank of Scotland (RBS) has announced it is to cut 3,500 jobs from its investment banking arm. Read More...

Northern Rock Sale: what it means for you

Updated: 12th April 2017 - First Published: 06th January 2012 Northern Rock plc has been bought by Virgin Money. Find out what it means for you as a saver, mortgage holder, shareholder and taxpayer. Read More...

Halifax introduces £100 switching incentive

Updated: 05th January 2012 - First Published: 05th January 2012 Halifax has introduced a £100 incentive for those customers applying for its Current Account, Reward Current Account and Ultimate Reward Current Account. Read More...

The Co-operative Bank freezes overdraft charges

Updated: 12th April 2017 - First Published: 03rd January 2012 The Co-operative Bank has revealed it is to remove interest charges on agreed overdrafts for the next three months. Read More...

Virgin Money completes Northern Rock acquisition

Updated: 14th December 2012 - First Published: 03rd January 2012 Virgin Money has completed its acquisition of Northern Rock, it has been confirmed. Read More...

Co-operative Bank freezes overdraft rates

Updated: 21st April 2017 - First Published: 03rd January 2012 The Co-operative Bank has delivered some Christmas cheer to its current account holders by cutting authorised overdraft charges for three months. Read More...

Bank signs to improve saver protection awareness

Updated: 13th December 2012 - First Published: 14th December 2011 Banks, building societies and credit unions in the UK could soon have to display signs telling savers how much compensation they could claim in the event of an institution failing and where from. Read More...

Co-op in pole position to land Lloyds’ branches

Updated: 14th December 2011 - First Published: 14th December 2011 The Co-operative Group has been confirmed as the front runner to land the 632 branches that Lloyds Banking Group must sell in order to comply with European Commission rules. Read More...

Vulnerable risk being pushed out of banking system

Updated: 14th December 2012 - First Published: 08th December 2011 Recent changes made to basic bank accounts by major banks could push more people out of the banking system, it is being warned. Read More...

Cash machine row rumbles on

Updated: 05th December 2011 - First Published: 05th December 2011 The row over banks not allowing their basic bank account customers to use other banks’ cash machines shows no sign of ending. Read More...

Current account improvements on the way

Updated: 14th December 2012 - First Published: 21st November 2011 Sweeping improvements to how personal current accounts operate are set to help millions of bank customers better manage their finances. Read More...

Virgin Money agrees deal to buy Northern Rock

Updated: 14th December 2012 - First Published: 17th November 2011 Virgin Money has agreed to buy Northern Rock plc in a deal worth an initial £747 million. Read More...

Bankrupts to get better financial access

Updated: 13th December 2012 - First Published: 17th November 2011 People who have been made bankrupt could soon be given better access to bank accounts. Read More...

Banks offering risky advice, claims Which?

Updated: 13th December 2012 - First Published: 16th November 2011 An investigation has found that many high street banks and building societies are giving poor advice and recommending inappropriate investment products. Read More...

N&P and Yorkshire BS merger: what it means for you

Updated: 18th April 2017 - First Published: 01st November 2011 Norwich & Peterborough BS became part of Yorkshire BS as from the 1 November 2011. Find out how this merger affects you. Read More...

FSA outlines crackdown on packaged accounts

Updated: 14th December 2012 - First Published: 27th October 2011 Banks will have to check a customer’s suitability for a packaged account before selling them one under new rules put forward by the Financial Services Authority (FSA). Read More...

Investors offered reassurance over bank downgrades

Updated: 13th October 2011 - First Published: 13th October 2011 Investors have been told not to be concerned by the recent spate of bank downgrades, as Fitch became the latest agency to cut the ratings of UK banks. Read More...

Banks quizzed over cash machine restrictions

Updated: 13th December 2012 - First Published: 10th October 2011 Two of the UK’s largest banks are being quizzed as to why they have stopped some customers from using other banks’ cash machines. Read More...

Moody’s downgrades UK financial institutions

Updated: 14th December 2012 - First Published: 07th October 2011 Moody’s has announced that it has downgraded 12 of the UK’s financial firms including Lloyds TSB, Royal Bank of Scotland (RBS) and Santander UK. Read More...

Tesco Bank to delay mortgage roll-out

Updated: 14th December 2012 - First Published: 06th October 2011 Tesco Bank has confirmed that it is to delay the roll out of mortgages and current accounts until early next year. Read More...

Barclays tops FSA complaints list

Updated: 14th December 2012 - First Published: 28th September 2011 Barclays was the most complained about banking brand in the UK during the first six months of 2011. Read More...

Yorkshire/N&P merger set for November

Updated: 14th December 2012 - First Published: 26th September 2011 The merger of Yorkshire Building Society and Norwich & Peterborough (N&P) Building Society has been given the green light by the Financial Services Authority. Read More...

Post Office reveals RBS cash withdrawal deal

Updated: 08th August 2017 - First Published: 21st September 2011 Customers of the Royal Bank of Scotland Group will be able to make free cash withdrawals from the Post Office from this Friday. Read More...

Seven-day account switching promised from 2013

Updated: 15th September 2011 - First Published: 15th September 2011 The process of switching current accounts will soon take no longer than seven working days after the Payments Council endorsed plans to make account switching easier. Read More...

Citibank attracts current account attention

Updated: 09th November 2017 - First Published: 15th September 2011 Citibank has launched a new current account certain to attract a wealth of attention. Read More...

Smaller banks make mark in satisfaction stakes

Updated: 14th December 2012 - First Published: 14th September 2011 Smaller banks and building societies in the UK are providing greater customer satisfaction than the high street banking giants, new research has revealed. Read More...

Current account inertia costs consumers

Updated: 14th December 2012 - First Published: 13th September 2011 Hassle and apathy are the main reasons why more than a third of Brits have never switched their main current account provider, new research has revealed. Read More...

Bank reforms suggest simplifying account switching

Updated: 13th December 2012 - First Published: 12th September 2011 Bank customers could soon find it far easier to switch bank accounts as part of the proposals if proposals put forward to reform the UK’s banking system get the go-ahead. Read More...

Financial complaints on the rise

Updated: 14th December 2012 - First Published: 06th September 2011 The fall out from the payment protection insurance scandal continues as figures show a significant increase in the number of complaints being made by consumers. Read More...

Customers should be able to bank on Post Offices

Updated: 14th December 2012 - First Published: 31st August 2011 All UK banks are being put under pressure to allow their customers full access to personal bank accounts through the Post Office network. Read More...

Consumers missing out on current account interest

Updated: 14th December 2012 - First Published: 31st August 2011 UK current account customers are missing a trick when it comes to earning interest on their current accounts. Read More...

New mortgage fraud scheme to be launched

Updated: 30th August 2011 - First Published: 30th August 2011 Mortgage lenders will be able to call on help from HM Treasury & Customs (HMRC) if they suspect that mortgage fraud may be taking place. Read More...

Co-op customers to enjoy more branch options

Updated: 14th December 2012 - First Published: 25th August 2011 Customers who bank with the Co-operative Financial Services (CFS) will soon have four times more branches available to them in which to conduct their business. Read More...

Barclays warns PPI complaint levels to rise

Updated: 14th December 2012 - First Published: 25th August 2011 Barclays has reported a significant reduction in the number of complaints it received in the first half of the year. Read More...

N&P/Yorkshire merger gets green light

Updated: 14th December 2012 - First Published: 23rd August 2011 Members of Norwich and Peterborough Building Society (N&P) have given the green light to a proposed merger with Yorkshire Building Society. Read More...

NatWest and RBS restrict cash machine access

Updated: 19th August 2011 - First Published: 18th August 2011 NatWest and Royal Bank of Scotland have come under fire for their decision to prevent holders of their basic bank accounts from using other providers’ cash machines. Read More...

Greek tragedy and PPI hit RBS

Updated: 05th August 2011 - First Published: 05th August 2011 Exposure to the economic meltdown in Greece and payment protection insurance payouts hit Royal Bank of Scotland (RBS) in the first six months of 2011. Read More...

PPI costs push Lloyds to £3.3 billion loss

Updated: 14th December 2012 - First Published: 04th August 2011 Lloyds Banking Group has recorded a £3.3 billion loss because of the high cost of compensating customers who were wrongly sold payment protection insurance (PPI). Read More...

Consumers warned over foreign debit card charges

Updated: 03rd August 2011 - First Published: 03rd August 2011 Holidaymakers are being stung because they are not aware how much it costs to use their debit cards abroad. Read More...

Northern Rock reports lower losses

Updated: 03rd August 2011 - First Published: 03rd August 2011 Northern Rock PLC has announced that losses at the nationalised lender fell in the first six months of 2011. Read More...

PPI provision hits profits at Barclays

Updated: 14th December 2012 - First Published: 02nd August 2011 Barclays has reported that profits fell in the first six months of the year, with provisions put aside for PPI payments partly to blame. Read More...

Yorkshire BS to take over Egg

Updated: 30th May 2017 - First Published: 26th July 2011 Yorkshire Building Society has announced that it has agreed a deal to acquire Egg Banking’s savings and mortgage businesses. Read More...

Graduates urged to take steps to tackle debts

Updated: 21st July 2011 - First Published: 21st July 2011 Graduates about to conclude their university studies have been urged to tackle their debts head on. Read More...

Students told to take care with their finances

Updated: 14th December 2012 - First Published: 18th July 2011 Students in the process of preparing to leave home and head off to university have been urged to consider the merits of student accounts. Read More...

N&P: Vote yes on Yorkshire BS merger

Updated: 14th December 2012 - First Published: 11th July 2011 Norwich & Peterborough Building Society (N&P) has strongly urged its members to votes ‘yes’ for its proposed merger with Yorkshire Building Society. Read More...

Santander call centres return to the UK

Updated: 14th December 2012 - First Published: 08th July 2011 Santander has revealed it is bringing all of its Indian call centres back to the UK following negative feedback from its customers. Read More...

Switching bank accounts to become easier

Updated: 09th February 2012 - First Published: 05th July 2011 Switching accounts is to become a far easier process over the next two years, the Payments Council has said. Read More...

Consumers ‘deserve better from high street banks’

Updated: 14th December 2012 - First Published: 04th July 2011 People deserve better from high street banks, the Financial Services Authority’s consumer panel has said. Read More...

Southsea savers to receive compensation

Updated: 16th June 2011 - First Published: 16th June 2011 Savers with Southsea Mortgage and Investment Company are to receive compensation payments from the Financial Services Compensation Scheme (FSCS) after the bank was shut down. Read More...

Backing for portable bank account numbers grows

Updated: 13th December 2012 - First Published: 16th June 2011 Consumers would be more likely to move their bank account to a better deal if portable bank account numbers were introduced, an influential panel has suggested. Read More...

Ring-fenced bank arms to protect taxpayers

Updated: 14th December 2012 - First Published: 15th June 2011 Government plans to force banks to ring-fence their retail operations from investment banking will better protect consumers, it has been suggested. Read More...

Product focus: Branch based savings accounts

Updated: 02nd October 2017 - First Published: 13th June 2011 In recent years there has been a surge in online operated accounts, but for a significant number of savers they still prefer to manage their accounts in branch. Read More...

Co-operative begins in-branch legal advice scheme

Updated: 07th June 2011 - First Published: 07th June 2011 Customers of The Co-operative may soon be able to access legal advice in their bank branch if a new pilot scheme proves to be a hit. Read More...

The online revolution continues

Updated: 14th December 2012 - First Published: 19th May 2011 The online money revolution continues apace in the UK, with the majority of people saying it is their preferred method of banking. Read More...

Lloyds sets aside £3.2 billion for PPI payments

Updated: 05th May 2011 - First Published: 05th May 2011 Lloyds Banking Group has set aside £3.2 billion to pay customers who have been mis-sold payment protection insurance (PPI). Read More...

HSBC to text customers nearing overdraft limit

Updated: 13th June 2017 - First Published: 04th May 2011 HSBC current account customers will be able to receive a text message warning them they are approaching their overdraft limit from next month. Read More...

Yorkshire BS agrees N&P takeover deal

Updated: 14th December 2012 - First Published: 20th April 2011 Yorkshire Building Society has agreed a deal to take over the troubled Norwich & Peterborough Building Society (N&P) by the end of the year. Read More...

Independent Commission on Banking: what it means

Updated: 01st May 2014 - First Published: 15th April 2011 The Independent Commission on Banking has outlined proposals in its interim report that could mean some big changes to your bank. Find out how these changes might affect you here. Read More...

Product focus: Branch based savings accounts

Updated: 12th October 2017 - First Published: 13th April 2011 Despite the rise in popularity of internet banking, many savers still prefer the personal service offered by their local branch. Read More...

Bank report suggests closing more Lloyds’ branches

Updated: 13th December 2012 - First Published: 11th April 2011 Customers of Lloyds Banking Group might soon have fewer branches in which to carry out their banking after the Independent Commission on Banking recommended it should be forced to sell off more of its outlets. Read More...

Bank switching set to be made easier

Updated: 13th December 2012 - First Published: 11th April 2011 Bank account customers could soon find it even easier to switch current accounts following recommendations by the Independent Commission on Banking. Read More...

Mistrust fuels reluctance on joint accounts

Updated: 14th December 2012 - First Published: 14th March 2011 While UK couples are happy to share their homes, cars and beds with each other, many take a ‘hands off’ approach to their current accounts. Read More...

Product focus: Current accounts

Updated: 22nd September 2011 - First Published: 02nd March 2011 If you are regularly in your overdraft, then by opting for an account paying a competitive rate you can save money. Read More...

HSBC announces increased profits

Updated: 14th December 2012 - First Published: 28th February 2011 HSBC has announced pre-tax profits of $19 billion (£11.8 billion) for 2010, more than double the figures reported in 2009. Read More...

Return to profit for Lloyds Banking Group

Updated: 25th February 2011 - First Published: 25th February 2011 Lloyds Banking Group has announced pre-tax profits totalling £2.21 billion for 2010. Read More...

RBS posts annual loss of £1.13 billion

Updated: 24th February 2011 - First Published: 24th February 2011 The Royal Bank of Scotland Group (RBS) has reported a loss of £1.13 billion for 2010. Read More...

Product focus: Packaged current accounts

Updated: 17th July 2017 - First Published: 16th February 2011 In the last 5 years the number of fee charging current accounts has more than doubled. A 'packaged account' usually charges a monthly fee in exchange for a host of benefits which come with this type of current account. Read More...

Barclays sees profits soar to £6bn

Updated: 14th December 2012 - First Published: 15th February 2011 The banking giant Barclays has reported pre-tax profits of £6.07 billion for 2010, an increase of almost a third on those it enjoyed in 2009. Read More...

Banks sign up to lending and bonus agreement

Updated: 09th February 2011 - First Published: 09th February 2011 The UK’s biggest banks have agreed to lend £190 billion to businesses in 2011 after finalising the details of the long awaited Project Merlin with the Government. Read More...

Bank levy rates to rise early

Updated: 08th February 2011 - First Published: 08th February 2011 The Chancellor has revealed the rate of the bank levy to be charged in 2011 is to be increased earlier than previously anticipated. Read More...

Product focus: Current accounts

Updated: 22nd September 2011 - First Published: 14th January 2011 Customers looking for a suitable current account should bear in mind their financial habits. Those who find themselves in their overdraft every month may be suited to a current account offering a competitive overdraft rate. Read More...

Product focus: Overdrafts

Updated: 02nd June 2017 - First Published: 07th January 2011 If you regularly dip into your overdraft, then you could save money by switching to an account that charges a competitive overdraft rate. Read More...

Britons unwilling to switch current accounts

Updated: 07th December 2010 - First Published: 07th December 2010 Providers face an uphill struggle to get people to switch their current accounts, new research has revealed. Read More...

Uncertainty reigns over when a cheque clears

Updated: 27th April 2011 - First Published: 30th November 2010 Do you know how many days you have to wait after paying in a cheque before it's safe that the cheque cannot be bounced? Read More...

Is it time to make a current account change?

Updated: 25th November 2010 - First Published: 25th November 2010 One of the easiest ways to save some extra money without cutting into your hard earned cash is to switch your current account provider. Read More...

A package worth opening

Updated: 31st December 2012 - First Published: 02nd November 2010 Customers who are unhappy with their current account may wish to consider the benefits offered by a packaged account. Read More...

And now the end is near…….

Updated: 01st November 2010 - First Published: 01st November 2010 The Alliance & Leicester brand is to disappear from the UK’s high streets by the end of the year. Read More...

RBS and NatWest announce overdraft changes

Updated: 05th June 2017 - First Published: 27th October 2010 The Royal Bank of Scotland (RBS) and NatWest have announced that they are changing charges for customers who go overdrawn or exceed an agreed limit. Read More...

Spending Review: Banks hit by new levy

Updated: 21st October 2010 - First Published: 21st October 2010 Draft legislation regarding the levy to be imposed on banks has been revealed, as the finer details of the comprehensive spending review continue to emerge. Read More...

Claim your £100 now or miss out

Updated: 08th August 2011 - First Published: 15th October 2010 How would you like it if your current account was suddenly transferred to another bank without your say? Read More...

The fall and fall of current account interest rate

Updated: 06th October 2010 - First Published: 06th October 2010 Interest rates paid on current account balances are the latest perk to fall by the wayside because of the economic climate, Moneyfacts.co.uk figures show. Read More...

Could a second banking crash be on the way?

Updated: 01st June 2017 - First Published: 04th October 2010 The spectre of the UK’s high street banks asking for further hand outs could be on the horizon, a new report has claimed. Read More...

Basic banking doesn’t have to mean boring banking

Updated: 15th May 2017 - First Published: 29th September 2010 You can’t help but have noticed the lengths that providers are currently going to in a bid to get people to switch their current accounts. Read More...

Increasing numbers living in their overdraft

Updated: 04th April 2011 - First Published: 21st September 2010 New figures have laid bare the worrying number of people that are consistently living in their overdraft. Read More...

Do you know how much is in your account right now?

Updated: 16th September 2010 - First Published: 16th September 2010 New research has revealed that the majority of Brits are out of touch with their day-to-day finances. Read More...

Overdraft rates hit all time high

Updated: 14th December 2012 - First Published: 10th September 2010 Despite the base rate of interest being tagged at the historical low of 0.5% for the last 18 months, overdraft charges have shot up during the period. Read More...

Product focus: Branch based banking

Updated: 03rd September 2010 - First Published: 03rd September 2010 Despite the online banking phenomenon, there are still some people who prefer a traditional approach to conducting their finances. Read More...

Former students face up to higher interest rates

Updated: 02nd September 2010 - First Published: 02nd September 2010 While thousands of new students are embarking on a new chapter in their lives, many graduates are facing up to higher repayments on their student loans. Read More...

Current accounts…when staying faithful doesn’t pay

Updated: 08th August 2011 - First Published: 26th August 2010 Current account holders, who are remaining loyal to their banks for longer than they would their partners, are missing out on the best current account deals. So what incentives are there to switch? Read More...

Profits rise at Co-operative Financial Services

Updated: 04th April 2011 - First Published: 26th August 2010 Co-operative Financial Services has reported a 34% rise in operating profit over the first half of the year. Read More...

Look for extras to combat student costs

Updated: 19th August 2010 - First Published: 19th August 2010 On the day that hundreds of thousands of A Level students will either be toasting their exam success or drowning their sorrows, the spiralling costs of university may not be uppermost in their thoughts. Read More...

Student accounts to write home about

Updated: 19th August 2010 - First Published: 17th August 2010 With students old and new likely to have to juggle work, rest, play and study more than ever before this year, it is important to find an account that suits your particular needs. Read More...

Is it time to join the online banking revolution?

Updated: 04th January 2017 - First Published: 16th August 2010 The advances in technology over the past decade mean that taking hours out of our busy schedules to carry out banking are gone. Read More...

Join the switching current account revolution

Updated: 04th January 2017 - First Published: 10th August 2010 Metro Bank might have recently become the first new bank to grace our high street in one hundred years, but is there any substance behind their swaggering entrance? Read More...

RBS delivers half year profits

Updated: 06th August 2010 - First Published: 06th August 2010 The Royal Bank of Scotland (RBS) has announced pre-tax profits of £1.14 billion for the first six months of the year. Read More...

Profits soar to almost £4 billion at Barclays

Updated: 05th August 2010 - First Published: 05th August 2010 Profits at Barclays have soared to almost £4 billion in the first six months of the year, thanks mainly to the bank’s investment arm. Read More...

Graduate with financial honours

Updated: 04th August 2010 - First Published: 04th August 2010 With the caps thrown and the gowns put away, many of the class of 2010 will not be immediately drawn to financial matters, but it pays to get you account in order. Read More...

Return to profit at Lloyds Banking Group

Updated: 04th August 2010 - First Published: 04th August 2010 Lloyds Banking Group has announced that it has returned to growth in the first six months of the year. Read More...

Top the class with the right student bank account

Updated: 26th June 2017 - First Published: 03rd August 2010 Hundreds of thousands of students are currently gearing up to embark on university life, but getting your finances in order first could prove to be a first-class decision. Read More...

‘Good’ Northern Rock bank posts a loss

Updated: 03rd August 2010 - First Published: 03rd August 2010 The good Northern Rock bank has today announced a pre-tax loss of £142.6 million, while the bad part of the bank has returned to profit. Read More...

Profits hit £7 billion at HSBC

Updated: 02nd August 2010 - First Published: 02nd August 2010 The UK’s largest bank has reported pre-tax profits of $11.1 billion (£7 billion) for the first half of 2010. Read More...

Lending to individuals rises

Updated: 30th July 2010 - First Published: 30th July 2010 Total net lending to individuals rose by £0.6 billion in June, figures from the Bank of England show. Read More...

A change worth thinking about: current accounts

Updated: 19th December 2016 - First Published: 29th July 2010 It sometimes seems as if people would be more inclined to change their friends and family than their bank, but there are real reasons for considering a change in your current account. Read More...

Banks refute claims of keeping savers in the dark

Updated: 19th December 2016 - First Published: 28th July 2010 UK banks have hit back at accusations that they keep savers in the dark as ‘groundless’. Read More...

Stress free: UK banks pass tests

Updated: 27th July 2010 - First Published: 26th July 2010 Seven banks in the European Union have failed stress tests designed to determine whether they would be able to deal with any future economic problems. As expected, the four major UK banks, Barclays, RBS, Lloyds and HSBC, all passed the tests. Read More...

Students embrace entrepreneurial spirit

Updated: 23rd July 2010 - First Published: 23rd July 2010 Many of the UK’s brightest young minds are turning away from the tough jobs market, planning instead to focus on their own entrepreneurial dreams. Read More...

Europe braced for bank stress test results

Updated: 23rd July 2010 - First Published: 23rd July 2010 Europe is bracing itself for the results of stress tests carried out on banks across the continent. Read More...

Bank margins at record levels

Updated: 30th June 2017 - First Published: 21st July 2010 In a week when Vince Cable has blasted the UK’s banks for ripping off customers, research conducted by Moneyfacts.co.uk has found that bank margins are at record levels. Read More...

Dormant accounts to fund ‘Big Society Bank’

Updated: 04th April 2011 - First Published: 20th July 2010 Savers could be forgiven for scrambling around trying to find old log books after it was revealed that dormant accounts are to fund the Conservatives’ Big Society Bank. Read More...

Bank accounts worth a minute of anyone’s time

Updated: 19th December 2016 - First Published: 16th July 2010 Ten people opened basic bank accounts every ten minutes of every day last year. Read More...

A change for the better: switching current account

Updated: 08th August 2011 - First Published: 25th June 2010 With the fallout from the emergency Budget set to leave many of us with less in our pockets, making the most of what you have is an absolute must. Read More...

Red card more likely for soccer teams than banks

Updated: 13th October 2017 - First Published: 16th June 2010 British people are more likely to change the football team they support than switch who they bank with, new figures show. Read More...

One million miss out on bank account benefits

Updated: 11th June 2010 - First Published: 11th June 2010 Almost one million adults in the UK do not have a bank account, according to new research from a government-backed watchdog. Read More...

Switch current accounts without a hitch

Updated: 09th June 2010 - First Published: 09th June 2010 We’re always banging on about the importance of saving but making sure you are getting the very most out of your money is just as crucial. Read More...

Savers making small withdrawals banished outside

Updated: 26th May 2010 - First Published: 26th May 2010 Bank customers are being pushed away from using branches towards using cash machines and the internet in order to make withdrawals from their savings accounts. Read More...

Whizz kids told to switch current accounts

Updated: 14th December 2012 - First Published: 21st May 2010 Whizz kid entrepreneurs have been urged to make even more of their money by switching their current account to achieve a better rate of interest. Read More...

Santander restructure moves compensation goalposts

Updated: 17th May 2010 - First Published: 14th May 2010 Savers with a combined investment of £50,000 or more in Santander and A&L accounts may consider moving some of their funds after the Spanish group’s restructure was rubber-stamped. Read More...

Overdraft rates at ten year high

Updated: 12th May 2010 - First Published: 12th May 2010 The average overdraft rate has reached its highest point in a decade, research conducted by Moneyfacts.co.uk has revealed. Read More...

Mutuals take customer service crown

Updated: 20th July 2010 - First Published: 30th April 2010 Mutual societies have outperformed the UK’s banks in a number of areas of customer service, new research has revealed. Read More...

Banks slammed on complaints handling

Updated: 28th April 2010 - First Published: 28th April 2010 Many of the UK’s high street banks have been criticised by the financial watchdog for the way they deal with complaints from consumers. Read More...

Banks unveil help for stranded travellers

Updated: 19th April 2010 - First Published: 19th April 2010 Customers of NatWest and RBS stranded abroad due to the volcanic ash cloud have been afforded some financial help by the banks. Read More...

Cash no longer king, as bank accounts rule

Updated: 14th April 2010 - First Published: 14th April 2010 The growing importance of bank accounts has been highlighted, after a new report suggested cash will be used in less than half of transactions in five years’ time. Read More...

Scrimpers urged to switch current accounts

Updated: 26th March 2010 - First Published: 26th March 2010 Britons have been told switching current accounts could be the simplest way to make their money go further. Read More...

Coventry tie up benefits Stroud & Swindon members

Updated: 23rd March 2010 - First Published: 23rd March 2010 Coventry Building Society has reached an agreement to merge with Stroud & Swindon Building Society. Read More...

Switch to save money

Updated: 09th March 2010 - First Published: 09th March 2010 Bank customers have been urged to consider changing providers, after research revealed millions of people are missing out on savings due to a lack of switching... Read More...

Santander current account to make mouths water

Updated: 15th February 2010 - First Published: 15th February 2010 Santander has launched a new current account with all manner of potentially useful mod cons attached... Read More...

Refreshing fee-free account from Santander

Updated: 11th January 2010 - First Published: 11th January 2010 Santander is celebrating its new presence on the UK high street with the introduction of its Zero Current Account. Read More...

Santander rebrand begins

Updated: 22nd January 2010 - First Published: 11th January 2010 There is a new name on the UK’s high street after Santander began the rebrand of its Abbey and Bradford & Bingley branches. Read More...

Virgin Money sets eyes on retail banking sector

Updated: 29th January 2010 - First Published: 08th January 2010 Virgin Money has gone some way to establishing itself in the retail banking sector with the acquisition of regional bank Church House Trust. Read More...

BoE keen for more £5 notes in ATMs

Updated: 07th December 2009 - First Published: 07th December 2009 £5 notes could become more readily available from cashpoints up and down the UK, after the Bank of England’s (BoE) Chief Cashier said the denomination is still too scarce. Read More...

Current account and MPPI boosts for consumers

Updated: 08th October 2009 - First Published: 08th October 2009 Consumers have received a double helping of good news, as banks pledged to make current account costs more transparent... Read More...

Students urged to select accounts with care

Updated: 10th September 2009 - First Published: 10th September 2009 For students soon to be heading off to university, it will be worth their while taking the time to find the most suitable student account for their needs... Read More...

Pick account on financial merits, students told

Updated: 27th July 2009 - First Published: 27th July 2009 With the new university year just a month away, students have been urged to choose their account based on its financial performance rather than the incentives they offer. Read More...

OFT streamlines overdraft investigation

Updated: 06th April 2009 - First Published: 06th April 2009 The long-running investigation into the fairness of bank overdraft charges took another turn today as the Office of Fair Trading (OFT) said it is to focus on three banks in particular, for the time being at least. Read More...

Banks to appeal charges case

Updated: 02nd April 2009 - First Published: 02nd April 2009 The House of Lords has given a group of UK banks permission to appeal a recent Appeal Court judgement on bank charges. Read More...

OFT defeat banks in High Court

Updated: 26th February 2009 - First Published: 26th February 2009 Thousands of current account customers were given cause for celebration this morning, as the appeal by eight banks to overturn the ruling that the fairness of overdraft charges can be investigated was thrown out by the High Court. Read More...

Get £100 from Alliance & Leicester

Updated: 13th June 2017 - First Published: 22nd January 2009 Alliance & Leicester are offering new customers the chance to gain a winter windfall of £100 if they apply online for their Premier Current Account and use their Premier Switching Service to move their account across. Read More...

Great deal from A&L Premier Direct Current Account

Updated: 23rd January 2009 - First Published: 22nd January 2009 Alliance and Leicester has thrown down the gauntlet to the rest of the current account market with its online Premier Direct Current Account. Read More...

Britannia and Co-op to create super-mutual

Updated: 12th January 2015 - First Published: 21st January 2009 The Britannia Building Society and Co-operative Financial Services (CFS) have announced they are to merge, creating what has been dubbed a super-mutual in the process. Read More...

Change your current account for a credit union?

Updated: 13th November 2017 - First Published: 21st January 2009 It’s a big idea in the USA, but will the expansion of the credit union market become a real alternative to high street institutions within Britain? Read More...


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