News Centre: Banking News

Prepaid cards have become increasingly popular in recent years. With identity theft and online fraud on the increase, not to mention improvements to the features available on the cards themselves, prepaid cards are now far more attractive to consumers than they once were.... read more

Were more likely to get divorced that switch bank accounts. What is it about switching current accounts that makes divorce seem easier?... read more

The pitiful state of savings has been voted the biggest financial worry " ahead even of falling house prices and soaring unemployment.... read more

If, like many people, you are not as flush with cash as you would like to be following Christmas, then it may not only be the freezing January weather leaving you feeling blue. ... read more

As the rate of inflation soars to a 16–year high and base rate falls below the rate of inflation for the first time since 1981, savers may begin to suffer from a negative real return. ... read more

A new joint rapid response unit has been set up and is in operation, ready to deploy finance experts to local authorities who need assistance following the failures of Icelandic banks.... read more

The inflation rate amongst the elderly is at a 6 year high, an astonishing 7.8%. Alliance Trust's ongoing monthly study of age related inflation has found that the over 75 year olds continue to be hit the hardest by rising inflation, and the pain is getting worse. This age group saw their inflation rate jump from 7.0% to 7.8% in September.... read more

As domestic safe sales surge, esure warns homeowners that they could be left under-insured and exposed by keeping too much cash at home.... read more

Ian Pearson MP, the Economic Secretary to the Treasury, today announced that a new expert liaison group on banking will be set up. ... read more

Ministers today said that they will continue with their fight against fuel poverty, as Environment Secretary Hilary Benn holds meetings with energy suppliers and the home insulation industry to discuss how to speed up work on increasing energy efficiency in the UK's homes.... read more

Cheshire Building Society has re-launched its competitive Premier Postal Savings Account and due to popular demand has made the account available throughout its branch network. ... read more

Adults who stopped holidaying with their parents in their teens are reviving the family holiday in order to save money and have childcare on tap according to Saga Travel Insurance. ... read more

The Co-operative Bank today 29 September launched the UK's first ever packaged current accounts that offer customers an opportunity to choose benefits to suit their personal needs.... read more

Students gearing up for the first weeks of term are feeling the effects of the rising cost of living according to new research from Abbey Banking1.... read more

Current account customers are being urged to go online within the next 7 days and take advantage of Alliance & Leicester's £100 incentive by switching to its Premier Current Account before the offer ends on 29 September 2008.... read more

The end of a tumultuous week sees equity markets post some of the strongest gains in six years over hopes that the US authorities will announce a permanent solution to the current banking woes. In addition to possible plans to set up a US government agency to buy bank assets, the FSA and SEC have temporarily banned short selling of selected lists of financial stocks.... read more

M&S Money is offering to refund in full foreign currency purchased from M&S by customers who had booked holidays with the XL Leisure Group and are now unable to travel.... read more

With effect from Tuesday 16th September, Woolwich is cutting rates on both fixed and lifetime tracker mortgages, and introducing a competitive new lending tier at 75% loan to value. ... read more

Abbey is cutting rates by 0.6 per cent on its mortgages for customers with a 15 per cent deposit, as well as introducing five new deals to this range. It is also reducing fees on these products by up to £1,000, so the 85 per cent LTV range - which is available for borrowing of up to £550,000 - now starts at:... read more

account tracing website has notched up over six months of success, during which time over 140,000 individuals have searched online for their forgotten funds.... read more

Despite a challenging economic climate, customer satisfaction with retail banks in the United Kingdom has increased since 2007, according to the J.D. Power and Associates 2008 UK Retail Banking Customer Satisfaction Study released today.... read more

From Friday, 5 September Abbey is reducing the rate on its two, three and five year fixed rate mortgages by up to 0.30 per cent.... read more

UK banks fire fighting approach to fraud is leading to inadequate online security, according to leading digital security company, Gemalto.... read more

Following the announcement from Barclay's Bank that profits are down by a third, Graham Spooner, Investment Adviser at The Share Centre, comments on the results and indicates how investors may benefit.... read more

Simon Ward, economist with fund managers, New Star, has stuck his head above the parapet and predicted a 'no change' vote by the Bank of England's monetary policy committee on Thursday.... read more

Britannia Building Society has launched a brand new online and telephone savings account - DirectSaver Reserve with a rate of 6.25% gross.... read more

UK Growth & Income Fund Manager and Banking Sector Specialist, Chris White, gives his views on the Lloyds Interim Results... read more

Defra Department for Environment, Food and Rural Affairs is today setting out plans to contribute at least £5 million to a scheme to support households in England which face a particularly high risk of flooding but which are not protected by traditional community level defences.... read more

Abbey Savings launches on Monday 4 August 2008 its latest one-year savings account for customers looking for a guaranteed return on an amount of money they can lock away for one year.... read more

Britannia has launched a new range of Guaranteed Capital Bonds, including a brand new inflation-linked product. Available from 26 July, the new five year Inflation Linked Guaranteed Capital Bond ILG... read more

Halifax today announces details of its new market leading Student Current Account offering. Applications for the new account can be made from Monday 4th August 2008. The account is available to both... read more

What is an investment trust?What is an investment trust?An investment trust is a collective investment fund which pools together money from hundreds or thousands of investors. This pool of money is st... read more

How internet shopping has taken offerHow internet shopping has taken offJust a few years ago inputting your credit card or debit card details to a website to pay for something was a practice reserved... read more

ICI added 3 to 634.50 - the specialty chemicals outfit finally opening its books to Dutch rival, Akzo Nobel, after the latter raised its indicative bid to £8.0 billion. Akzo, which has teamed up wi... read more

New research from Halifax Financial Services shows that the "affluent" or so called "middle" classes have prospered over the past decade. Earnings of these households have risen by 42.8% over the pas... read more

The term 'buy to let' has become synonymous with the private rented sector and for some, carries with it negative connotations. But in a new Housing Intelligence report published by property websit... read more

Coventry Building Society has announced the launch of 3 new limited issue fixed rate bonds. The new bonds come in 1, 2 and 3-year versions, each paying 6.55% AER/gross p.a. 5.24% net through ... read more

Yorkshire Building Society has announced the introduction of Mortgage, a no deposit mortgage that allows an extra 15% above the property value to be borrowed. Whilst the obvious market for Mortgag... read more

Bradford & Bingley has announced the launch of eSavings4 - the online savings account giving an annual bonus rate of 6.01% p.a. gross/AER for the first 12 months. eSavings4 - available to savers... read more

National Savings and Investments NS& I is increasing the interest rates on a range of its fixed rate savings offers by up to 0.35% p.a - all new rates coming in with immediate effect. The rise f... read more

J. Sainsburyadded 4.50 to 585.50 - Britain's third largest food retailer reporting slightly disappointing sales growth numbers in what amounted to its toughest quarter since CEO, Justin King, began th... read more

Lloyds TSB Scotland has announced the launch of its 2007 Student account, offering students planning to go to university this autumn over £200 worth of money saving benefits. As well as an interest... read more

Despite the call for the 'dematerialisation' of shares, new research by Barclays Stockbrokers shows that many UK residents prefer to keep their investments where they can see them. Indeed, one in ... read more

The bright lights of Hollywood may be shining the way to promising returns for the movie industry, according to Standard & Poor's Equity Research Services. Indeed, the industry might be just wa... read more

Following the Bank of England's second increase in interest rates this year and the fourth since last summer, landlords are responding by increasing rents by more than CPI inflation and by adding t... read more

House prices gained further momentum in April despite increased supply triggered by the forthcoming introduction of HIPS Home Information Packs, says RICS Royal Institution of Chartered Surveyo... read more

Think you know protection? Well think again, according to LifeSearch. It names the Top Ten rare and unique policy benefits that most consumers don't know exist. Most people know the main type... read more

Fund manager, New Star, has announced that its International Property Fund is now open to retail investors. The New Star International Property Fund is the UK's first authorised, open-ended internati... read more

Nationwide Building Society has announced an increase in rates on its range of fixed rate and tracker mortgages - effective May 16th. The new rates are: Home Mover range - 2-year fix with £499 f... read more

Alliance & Leicester International has increased the interest rate on its offshore base rate tracker Issue 3, to 5.70% gross pa/AER. This account also comes with a guarantee that the rate w... read more

Latest figures March from the BBA British Bankers' Association show that mortgage demand may be weakening in the face of rising interest rates. March's gross mortgage lending was £18.6 billio... read more

The Scots may have always had a reputation for being tight-fisted, but a new survey reveals the benefits of being so stingy, according to the Chelsea Building Society. In fact, people from Edinbu... read more

Customers of up to 80,000 UK businesses are now covered by the Financial Ombudsman Service for the first time as the ombudsman's remit is officially extended under Consumer Credit legislation. All... read more

Around 400,000 car purchase transactions are likely to take place in March with UK motorists eager to be among the first to drive away a new '07 registered car. However, care should be taken when cons... read more

The introduction of chip and PIN has made it more difficult for fraudsters to commit credit card fraud, with losses at UK retailers falling by £146.7 million over the past two years. However, criminal... read more

Standard Life Investments is to offer investors a 0% initial charge on investments in its range of investment trusts during this year's ISA season. Those who invest in a trust managed through the... read more

HSBC Holdings gained 13.50 to 899.50 - Europe's largest bank posting pre-tax profits of 22.1 billion - a record, but marginally lower than analysts had been forecasting. Meanwhile, a 12% rise in p... read more

ISA investors who want to move stock from their existing portfolio into an ISA to use up this year's tax-free entitlement could be hit by costs of more than £200, according to ISA and PEP provider, A... read more

The OFT has submitted a range of recommendations to raise standards of fairness in the way British banks treat their personal and business customers. In its response to the Banking Codes Review ... read more

Cash-strapped students planning to pursue a course of post-graduate study in the USA or Canada can gain a significant financial advantage by applying for an Educational Scholarship through BUNAC, ... read more

A new survey from GE Life reveals that the UK is becoming a nation of 'children for life', with many parents subsidising their children far later into adulthood than a generation ago - even once their... read more

Now you can make sports spread bets online with Moneyextra's sports spread betting service, provided by Sporting Index. Spread bets are free of commission, brokerage fees and duty. All profits are fr... read more

Loyalty, it would seem, buys a bit fat zero where banks and current accounts are concerned. Yet apathy combined with an incorrectly-perceived high hassle factor prevents most people from switching cu... read more

Nearly a third of all Brits buying property in France are choosing French mortgage providers, according to Crdit Foncier de France, France's number one mortgage provider. And whilst French mortg... read more

Tesco Car Insurance has announced it will reward all their named drivers, with at least one year's claim-free driving, with a discount of up to 50% when they insure their own car with them. Motori... read more

HSBC has launched a 5-year fixed rate mortgage charging 5.55% until March 2012, then reverting to the bank's variable rate currently 6.25%. There are no booking, exit or higher lending charges. ... read more

Standard Life has revealed that over 235,000 former members now shareholders have yet to claim a total of almost 90 million shares following the company's demutualisation and flotation in July 200... read more

The Department for Communities & Local Government DCLG reports average house prices dropped by 0.3% from September to £197,987. However, the annual rate of house price inflation continued to ris... read more

Six out of ten regular investors in the UK stock market those who trade at least once a month are more confident than they were 12 months ago, according to new research from broker, TD Waterhous... read more

If you're planning to put your Christmas on plastic, now is the time to start that planning. Cheap and zero interest deals are disappearing fast. And piling on the pounds on the wrong card could ... read more

Research carried out for Bright Grey, the protection specialist arm of Royal London, has revealed that the top three things people in the UK believe most important to insure are: Life almost 40%... read more

New data from the Council of Mortgage Lenders shows that levels of remortgaging have reached their lowest figure for five years. Figures for September show that remortgaging accounted for 30% of t... read more

A new report from Scottish Widows concludes that the Government will have many hurdles to overcome if it wishes to avoid a pensions crisis through the introduction of Personal Accounts, as sugges... read more

The Council of Mortgage Lenders CML, like many, has been unsurprised by Thursday's decision by the Bank of England to raise interest rates from 4.75% to 5%. But surprise or not, it says borrower... read more

The number of women in debt - and failing to find a way out of it - is on the increase according to new figures. Research by debt solutions consultancy, Thomas Charles, found that the number of adults... read more

Latest figures from the Halifax show house prices rising by 1.7% to a seasonally adjusted average of £184,593 in October, giving a year-on-year increase of 8.6%. However, the mortgage bank says th... read more

Nationwide Building Society has launched a new three year Loyalty Fixed Rate Bond paying 5.30% gross p.a./AER, as well as a new range of one and two year Fixed Rate Bonds and e-Bonds paying from betwe... read more

Following a number of complaints to Consumer Direct - the Government funded telephone and online consumer advice service managed by the OFT Office of Fair Trading - the OFT is warning consumers ... read more

ISAs Individual Savings Accounts are to become a permanent feature of the savings and investment landscape, following remarks by Treasury Minister, Ed Balls, at the PIMA PEP and ISA Managers' As... read more

Norwich and Peterborough Building Society N&P has made additions to its mortgage product ranges for customers looking to buy in Gibraltar or Spain - the launch comprising a new buy-to-let mortga... read more

CML Council of Mortgage Lenders Director General, Michael Coogan, speaking at the recent Property Forum annual dinner, said that the HIP Home Information Pack infrastructure now looks like "a co... read more

Research carried out for Bright Grey, the protection specialist arm of Royal London Group, shows that among people who've bought their first property in the last 12 months 40% have taken out a mor... read more

JPMorgan Asset Management in its latest 'Pensions Map' report into the state of the UK's retirement provision shows that traditional pension schemes are falling out of favour with less than half 4... read more

City watchdog, the FSA Financial Services Authority, has publicly censured financial adviser GD Tancred Financial Services Limited GDT for not clearly explaining and documenting the risks of i... read more

Rio Tinto rose 67 to 2732. BHP Billiton was up 29 at 1000.Crude oil bounced back from a 2006 low on news of a surprise fall in US winter fuel stocks. That helped BP gain 12 to 593 Bankers were led ... read more

What's the difference between saving and investing?What's the difference between saving and investing?Saving is a stage on the way to investing. You cannot be an investor without being a saver but you... read more

High earners are the nation's worst culprits for spending more than they earn, according to a survey from Derbyshire Building Society. Over 60% of UK adults earning over £50,000 splash out more than t... read more

So serious has the ID fraud problem become that crime prevention and credit reference agencies have teamed up once again to launch National Identity Fraud Prevention Week, which runs between 16-22 Oct... read more

Newcastle Building Society's new 50 saver account, is designed for people aged 50 and over you might have guessed from the name. This new passbook, telephone and internet account is available as a ... read more

BP, Europe's largest oil company, up 6 to 578.5. Shell, the number two, rose 12 to 173. Confirmation of North Korea's underground nuclear test, which helped oil, also pushed metals prices higher and t... read more

Insight Investment - part of HBOS - is launching a new Euro-denominated multi-manager absolute return fund, the Insight Global Diversified Return Fund GDR. This actively managed, multi-asset, ... read more

Drivers are set to take greater control of their motor insurance and save up to one third on their premiums with the launch of 'Pay As You Drive' insurance, claims Norwich Union. The insurer has... read more

Royal London Asset Management RLAM has announced the launch of the RLAM Strategic Bond fund. The fund aims to provide an attractive total return through active investment management in all t... read more

In August, credit card debt fell by £0.4 billion, falling for the fourth month running, while borrowing on loans and overdrafts rose by £0.2 billion, half the amount in the previous month. As long as ... read more

Current account banking in the UK is generally free - if you behave yourself and don't breach overdraft limits, or have need of some of the more expensive services that the banks offer, such as intern... read more

What are stocks and shares?What are stocks and shares?Shares are exactly what the name implies, that is to say they are shares in the ownership of the business. As a shareholder you are a part-owner o... read more

Leeds Building Society has launched a 5-year fixed rate mortgage - the deal running through December 31st 2011, charging 4.99% and allowing capital repayments of up to 10% each year without penalty.... read more

Graham Tuckwell, Chairman, and David Shrimpton, Head of Product Development, ETF Securities - with investment!Investors looking to take advantage of what's claimed to be a roaring long-term bull marke... read more

As expected, since the OFT's intervention in the credit card market to reduce default fees, providers have not taken this loss in revenue lying down. Indeed, in the last three months, according to... read more

AXA Framlington is expanding its international fund range with the launch of the AXA Framlington Japan Smaller Companies Fund on September 29th. Managed by Chisako Hardie, the fund aims to achi... read more