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....The report argues the Bank of Ireland lacks the ability to invest substantially in the Post Office. That has prevented the firm from establishing small business lending, while it’s also struggled to roll out current accounts, Lukac said. ... [Read full article on Guardian ]
Wednesday 6th of September 2017 11:01:44 PM
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.... About 400,000 have already done so, happily coughing up a £100 deposit rather than taking the £100 giveaway that other banks hand out to new customers, while a further 25,000 are waiting to get in the door. Meanwhile, the 32-year-old who runs it, Tom Blomfield, confidently predicts one billion customers in five years’ time as Monzo, or something like it, becomes the “control hub” for all your financial arrangements, from savings to spending, from current accounts to utilities. ... [Read full article on Guardian ]
Saturday 9th of September 2017 06:00:00 AM
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.... The topography of the economy features some very low valleys: as a nation, the UK is not generating rising prosperity for a majority; a high employment rate masks an increasingly insecure “casualised” labour force; and Britain remains a pretty unequal place. The UK is damned as a low productivity economy, investing less than our rivals, with an overall current account deficit that ranks the largest of all the G7 countries. ... [Read full article on Guardian ]
Sunday 10th of September 2017 07:10:49 PM
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....3 per cent in July - the slowest rate seen since May 2009. The figures include money held in current accounts, Isas and other savings accounts. ... [Read full article on Daily Express ]
Thursday 24th of August 2017 03:43:00 PM
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Latest Finance News related to Current Account

The Guardian view on the economy: the City is now too big for Britain | Editorial image
.... The topography of the economy features some very low valleys: as a nation, the UK is not generating rising prosperity for a majority; a high employment rate masks an increasingly insecure “casualised” labour force; and Britain remains a pretty unequal place. The UK is damned as a low productivity economy, investing less than our rivals, with an overall current account deficit that ranks the largest of all the G7 countries. ...
SavvyWoman calls on banks to make joint account rules clearer for couples image
Source : Daily Express [Read Article] Saturday 9th of September 2017 10:01:00 AM
....Sue Fox, chief executive of M&S Bank, commented: “ We want to ensure we’re providing the necessary education for couples up-front before they open a joint account, and provide support should the relationship break down. “We believe that customers should be treated as individuals so, while many current account providers will simply block a joint account once they’ve been notified of a separation, we will speak to both parties to ensure  we understand the situation and offer a bespoke solution to meet their circumstances. ...
Monzo? It might just be the future of banking image
Source : Guardian [Read Article] Saturday 9th of September 2017 06:00:00 AM
.... About 400,000 have already done so, happily coughing up a £100 deposit rather than taking the £100 giveaway that other banks hand out to new customers, while a further 25,000 are waiting to get in the door. Meanwhile, the 32-year-old who runs it, Tom Blomfield, confidently predicts one billion customers in five years’ time as Monzo, or something like it, becomes the “control hub” for all your financial arrangements, from savings to spending, from current accounts to utilities. ...
Government should cut Bank of Ireland out of Post Office bank, says report image
Source : Guardian [Read Article] Wednesday 6th of September 2017 11:01:44 PM
....The report argues the Bank of Ireland lacks the ability to invest substantially in the Post Office. That has prevented the firm from establishing small business lending, while it’s also struggled to roll out current accounts, Lukac said. ...
£1bn dent in cash Isas as household budgets pressure lowers saving and spending  image
Source : Daily Express [Read Article] Thursday 24th of August 2017 03:43:00 PM
....3 per cent in July - the slowest rate seen since May 2009. The figures include money held in current accounts, Isas and other savings accounts. ...
Nationwide sounds note of caution over lending in run-up to Brexit image
Source : Guardian [Read Article] Friday 11th of August 2017 04:06:30 PM
....” There was a one-off £26m gain this quarter and a £100m gain the previous quarter. Garner highlighted the society’s expansion in current accounts, an area traditionally dominated by the big four banks – Lloyds Banking Group, Royal Bank of Scotland, HSBC and Barclays. ...
Bank of England takes note on banknotes (but that's all) | Nils Pratley image
Source : Guardian [Read Article] Thursday 10th of August 2017 06:27:09 PM
....It is only now the odd dent is appearing. About 25,000 customers, or 2% of the total, closed their current accounts in the first half of this year. ...
Co-operative Bank sheds 25,000 current account customers but losses shrink image
Source : Guardian [Read Article] Thursday 10th of August 2017 08:25:02 AM
. The Co-operative Bank lost 25,000 current account customers in the first half of the year amid uncertainty created by its race to raise £700m to bolster its capital position. ...
Banks issue new sort codes in ringfencing of high street operations image
Source : Guardian [Read Article] Sunday 6th of August 2017 03:15:24 PM
....Barclays is not alone in needing to issue new sort codes, which signify the branch associated with the account. The Bank of England has estimated that about 1 million customers could be affected in an industry where there are 72m personal current accounts. ...
How to find your ideal current account this August image
Source : Independent [Read Article] Tuesday 1st of August 2017 11:04:00 PM
...
Related to :
Lloyds takes fresh £1bn hit from PPI compensation claims image
Source : Guardian [Read Article] Thursday 27th of July 2017 08:29:53 AM
....In addition to the £1bn PPI charge, the bank set aside another £540m in the first half. This includes a previously announced £100m for compensating customers hit by the HBOS Reading fraud for which two former employees were jailed in February and other issues, including the misselling of packaged bank accounts – where insurance and other products are bundled into current accounts – and compensating customers whose mortgage arrears were mishandled. ...
Lloyds and Halifax customers set for THESE huge changes to overdraft fees  image
Source : Daily Express [Read Article] Wednesday 12th of July 2017 04:09:00 PM
.... Customers will also be sent free texts when their balance is low to further help people to budget. It means a Halifax Reward current account customer who goes overdrawn by £100 of their planned limit for 10 days, and unplanned by £50 for two of those days will pay £1. ...
Lloyds Bank brings in single overdraft rate in radical shake-up image
Source : Guardian [Read Article] Tuesday 11th of July 2017 11:01:08 PM
....Lloyds said it will lose revenue because of the changes, but refused to specify how much. The bank operates around a quarter of all current accounts in Britain, which suggests that it currently takes around £300m a year in fees that will now be abandoned. ...
Chip: the robot banker trying to pull millennials out of their overdrafts image
....Chip’s solution is to peer over your digital shoulder at your bank balance, and when it’s looking particularly full – shortly after payday, or when you haven’t been out for a while – siphon a small amount off into a separate savings account. Over time, that savings account swells, and, hopefully, you don’t notice the difference to your current account. ...
The Crusader: Mystery debits add to EXECUTOR's burden image
Source : Daily Express [Read Article] Monday 3rd of July 2017 12:01:00 AM
. Bev Greenall was puzzled and upset as it was her father Peter’s current account that she had recently closed, she told Crusader. ...
Up goes travel insurance, all under the umbrella of Brexit image
Source : Guardian [Read Article] Saturday 1st of July 2017 06:00:06 AM
. Is Brexit going to push up the cost of your travel insurance this summer? Nationwide this week effectively blamed the Brexit-inspired fall in the pound for the decision to increase the cost of its popular FlexPlus packaged current account by 30%, from £10 to £13 a month. ...
Bank of England says interest rates should be kept on hold amid Brexit uncertainty image
....”. Carney said in a global economy marked by a clear divide between surplus and deficit countries, the UK’s current account was deeply in the red. ...
Co-op Bank has lost £2.6bn since the crisis – but can still bounce back | Nils Pratley image
....But the remarkable aspect of the post-2014 financial adventure is that the Co-op Bank’s brand hasn’t obviously been damaged. The number of current account holders has fallen from 1. ...
Shop around to tackle inflation as rate at four-time high image
Source : Daily Express [Read Article] Wednesday 14th of June 2017 08:20:00 AM
....She says the best rates are now mostly found online in a blow for people who still prefer to open a branch-based account (see page 38 for the latest best buys). High-interest current accounts are another option paying rates of up to 4 per cent, but only on limited sums. ...
As we wave goodbye to cash, ATMs have had to get a whole lot smarter image
Source : Guardian [Read Article] Saturday 10th of June 2017 05:59:18 AM
....Lloyds Bank is widely seen as the prime mover behind a suggested shake-up of charging. It has a sizeable chunk of the UK current account market, but only around 2,500 ATMs. ...
I was badly let down by Bank of Scotland’s bereavement service image
Source : Guardian [Read Article] Thursday 8th of June 2017 06:00:19 AM
. My partner died in January and I went into a local Bank of Scotland branch with all relevant documents to close his accounts and transfer our joint Ultimate Reward current account into my sole name. ...
Best bank accounts for FREE money as HSBC launches £200 switch offer image
Source : Daily Express [Read Article] Tuesday 6th of June 2017 02:04:00 PM
. People who switch to the provider's Advance of Premier current account from today will be paid £150. ...
Take a break from the falling pound … you can still minimise your holiday costs image
....Buying separate travel insurance may not be necessary if you have a bank account with the benefit attached to it. Nationwide’s FlexPlus current account, at £10 a month, includes worldwide travel insurance as well as car breakdown cover and mobile phone insurance. ...
Nationwide profits drop 18% as it shields savers from interest rate cuts image
....1% of the value of the property. The society is winning the share of the current account market, in part because of customers switching from the troubled Co-operative Bank. ...
Nationwide profits hit by low interest rates image
Source : BBC [Read Article] Tuesday 23rd of May 2017 07:20:53 AM
Best bank accounts for FREE money: How to switch and earn £250 image
Source : Daily Express [Read Article] Friday 19th of May 2017 03:52:00 PM
....Instant access saving and ISA account continue to languish and dismal lows. In comparison providers desperate for new current account customers are offering lump sums of cash and top interest rates. ...
Seeing red when Delta Air debited me twice for plane tickets image
Source : Guardian [Read Article] Friday 19th of May 2017 06:00:48 AM
.... The £1,047 cost was debited from my credit card within 24 hours. Four days later I discovered the available balance on my current account had decreased by a further £1,047. ...
Lloyds should give the backslapping a rest after sale of government stake | Nils Pratley image
....Let’s not forget, too, that Lloyds started with the immeasurable advantage of being the biggest retail bank in the UK by a country mile. It has a 25% share of UK current accounts, 22% of retail deposits and 21% of mortgages. ...
Lloyds claims taxpayers have made £900m profit from bailout image
Source : Guardian [Read Article] Wednesday 17th of May 2017 07:37:15 AM
....Finalising the bill for that PPI scandal – which has already topped £17bn – and paying compensation to victims of the HBOS Reading scandal are among the issues facing Lloyds. The bank is also in the throes of taking over credit card firm MBNA which will take its share of the market to 26% and add to its financial dominance: Lloyds has a 25% share of current accounts, 22% of retail deposits and 21% of mortgages. ...
Lloyds reaches landmark as government sells final shares image
Source : Guardian [Read Article] Tuesday 16th of May 2017 04:45:44 PM
.... Once operating in 30 countries, it now remains in just six – leaving it open to concern that it is vulnerable to any economic slowdown in the UK caused by Brexit. Lloyds has a 25% share of UK current accounts, 22% of retail deposits and 21% of mortgages, and as a result of the takeover of credit card company MBNA it will have a 26% share of credit card lending. ...
Best savings rates: How to make your money work harder image
Source : Daily Express [Read Article] Sunday 14th of May 2017 01:43:00 PM
....01 per cent. The dismal rates from traditional savings accounts means savers could be better placed by turning to current accounts, which can offer a bumper combination of high interest rates and lucrative perks. ...
German economic growth speeds up image
Source : BBC [Read Article] Friday 12th of May 2017 06:50:04 AM
....However, its relative strength has prompted concern in Brussels. In February, the European Commission said Germany's current account surplus - which measures the balance of goods, services and investments into and out of the country - was too big. ...
Will Lloyds chief enjoy plain sailing or will he jump ship? | Nils Pratley image
....Under the current set-up, Lloyds’ leadership in UK retail banking is assured as far as the eye can see. It is big in all the main activities – current accounts, mortgages, retail deposits, loans to small businesses – and is filling the only obvious gap by boosting its credit card operation with the addition of the MBNA book. ...
IMF meeting drops anti-protectionism pledge image
Source : BBC [Read Article] Sunday 23rd of April 2017 09:58:15 AM
....Global finance leaders from the IMF and World Bank have dropped a pledge to fight trade protectionism from the closing note of their spring meetings. An IMF statement said members would "work together" to reduce global trade and current account imbalances "through appropriate policies". ...
Protectionism is rising the world over. Our best defense is fighting inequality | Wally Adeyemo image
.... Yet it is true that changes to the international trading system are needed, especially non-tariff barriers to trade that harm fair competition. All credible ideas should be on the table, including potential penalties for countries with persistently large current account surpluses, particularly those that intervene in the foreign exchange market. ...
Brexit, PPI and high cost credit are top priorities for City watchdog image
Source : Guardian [Read Article] Tuesday 18th of April 2017 05:32:29 PM
....”. The wide-ranging work of the FCA, which oversees 56,000 firms, will also involve looking at the business models of retail banks and “free banking” for current account customers who do not use unauthorised overdrafts following on from the Competition and Markets Authority investigation last year. ...
Government launches ‘market-leading’ savings account image
Source : Guardian [Read Article] Tuesday 11th of April 2017 03:25:30 PM
....”. That said, it will no doubt prove popular, particularly as some of the high-interest current accounts have had their rates slashed or conditions imposed. ...
Savings rates turn NEGATIVE amid biting inflation with just ONE account beating rate image
....But there are other ways to still get a return on your cash. Savers can get above inflation interest rates of three per cent through a number of current accounts, including Nationwide, TSB and Tesco Bank. ...
Small towns seethe at bank closures, but others are plotting a new future image
....Monzo is relying on an EU directive, called PSD2 (the second payments services directive) that later this year will open the banking market to digital competitors. Monzo hopes to create a single financial tent, home to the core current account but also drawing in mortgages, savings, card providers, and even utility companies, all accessed from one app. ...
Smile no more, as Co-op airport lounge passes managed to escape us image
Source : Guardian [Read Article] Tuesday 4th of April 2017 06:00:44 AM
. Our Co-op Smilemore current account, for which we pay £15. ...
How to fight back against age bias on finances image
Source : Daily Express [Read Article] Sunday 2nd of April 2017 12:01:00 AM
.... . One respondent said that their travel insurance premium jumped the moment they turned 50, even though their circumstances had not changed in any other way, while another lost the free travel insurance on their current account on turning 70. ...
Sterling’s fall lifts UK exports, figures show image
Source : Guardian [Read Article] Friday 31st of March 2017 04:15:49 PM
....Britain’s trading position with the rest of the world improved markedly in the final three months of 2016, boosting hopes that the pound’s sharp fall since the Brexit vote can help the economy become less reliant on domestic spending. As sterling’s fall made UK goods more competitive on overseas markets and boosted exports, there was a significant narrowing in the UK’s current account deficit, the latest ONS growth figures showed. ...
The new 12-sided £1 coin launches – but you may not be able to use it image
....However, the change may bring an unexpected windfall for many families. Dan King, head of current accounts at the Nationwide building society, said the15 October deadline, when the round £1 coins will cease to be legal tender, could bring a financial surprise. ...
UK banks given new stress test scenarios image
Source : BBC [Read Article] Monday 27th of March 2017 11:43:00 AM
.... . Setting out the stress test scenarios, the Bank of England said: "As highlighted in recent financial stability reports, the United Kingdom's large current account deficit creates a vulnerability to a reduction in foreign investor appetite for UK assets and increases in funding costs for real-economy borrowers. ...
Is an Isa the best home for your nest egg? image
Source : Guardian [Read Article] Saturday 25th of March 2017 07:00:03 AM
....Interest rates on cash Isas are also (inexplicably) lower than rates on standard deposit accounts. For many people, the best rates of interest they will earn will be on money kept in a current account in one of the deals from the likes of Santander, Nationwide and Lloyds. ...
Lords call for the banks to get back to basics image
Source : Guardian [Read Article] Saturday 25th of March 2017 07:00:02 AM
.... It claims that in some cases, even branch staff are unfamiliar with them, and recommends that the government should “require” banks to properly promote them, in branches and via advertising. So what exactly is a basic bank account, who are they aimed at, and what about some of the alternatives to a traditional current account suitable for the people the big banks don’t want or struggle to cater for, such as migrants and those with a poor credit history?. ...
Tax year end 2017: Are ISAs or current accounts the best place to save £5,000?  image
Source : Daily Express [Read Article] Thursday 16th of March 2017 04:19:00 PM
. Top interest rates on current accounts, which provide unrestricted access to savings, are far higher than easy-access ISAs - as well as most fixed rates. ...
Trump's border tax could damage the US a lot more than a wall | Kenneth Rogoff image
.... But they like it anyway. First, the US imports a lot more than it exports, so it runs a large trade deficit, with the broadest measure (the “current account”) at about 2. ...
Co-op Bank warns of more branch closures as it reports £477m loss image
Source : Guardian [Read Article] Thursday 9th of March 2017 11:25:19 AM
....Despite its troubles, sparked when a £1. 5bn capital shortfall was uncovered in 2013, the bank which prides itself on its ethical stance has attracted 4,147 current account customers during the year. ...
Savers are getting worse return than ever while risk takers are benefiting image
Source : Daily Express [Read Article] Wednesday 8th of March 2017 12:01:00 AM
....Current Accounts. Nationwide’s FlexDirect current account pays 5 per cent on the first £2,500 in your account, but only for one year. ...
Moneysupermarket shares hit as revenues dip image
Source : BBC [Read Article] Tuesday 28th of February 2017 09:27:26 AM
....Shares in Moneysupermarket fell more than 6% after the comparison website warned that revenues so far this year were running below last year's levels. The FTSE 250 company said this was due to customers switching less between savings and current accounts because of low interest rates. ...
The Crusader: How to keep travel insurance fit for your purpose image
Source : Daily Express [Read Article] Friday 24th of February 2017 07:43:00 PM
....Cancellation of his and his wife’s flights cost £1,800. But when the couple claimed on their Advantage travel policy, part of their NatWest Gold current account package, it was rejected. ...
German budget surplus highest since 1990 image
Source : BBC [Read Article] Thursday 23rd of February 2017 02:29:14 PM
.... . On Wednesday the Commission said Germany's current account surplus - which measures the balance of goods, services and investments into and out of the country - was too big. ...
Results will reveal the good, the bad and the ugly of UK banks image
Source : Guardian [Read Article] Sunday 19th of February 2017 03:37:29 PM
....OakNorth Bank, one of the challengers, pointed out that 80% of small businesses bank with the big four. Rishi Khosla, chief executive of OakNorth, said: “It’s important that this fund doesn’t just focus on current accounts, but that it is used to increase challenger banks’ capabilities to deliver a range of products and services, including short and long-term business loans”. ...
Co-op Bank is up for sale – is it time to leave? image
Source : Guardian [Read Article] Saturday 18th of February 2017 07:00:33 AM
....The Co-op Bank is the only UK high street bank with a customer-led ethical policy, covering a range of issues from the environment to animal welfare. It currently gives £110 to people who move to its no-monthly fee current account via the industry’s switching service (which involves closing your old account) and port over at least four active direct debits. ...
Nationwide should swallow Co-op Bank | Letters image
Source : Guardian [Read Article] Wednesday 15th of February 2017 06:25:56 PM
.... It’s still a mutual. Why can’t it go back to its co-operative roots? Failing that, Triodos Bank is small and undoubtedly ethical, but has no current account. ...
Days of low inflation are over with UK consumer finances to take a hit | Larry Elliott image
.... Net trade, traditionally the motor of the German economy, subtracted from growth on the quarter because imports rose more strongly than exports. In one respect, this is a helpful development since Germany has been running an excessively high current account surplus and needs to bring it down for the good of the rest of the eurozone and the global economy. ...
My refund was a no show after The Lowry charged my card twice image
Source : Guardian [Read Article] Saturday 11th of February 2017 07:00:09 AM
....This is disappointing treatment of a loyal customer, though once we got in touch The Lowry’s box office representative phoned you straight away and apologised for the delay. It has not only now refunded you £87 via BACS transfer to your current account but also promised two free tickets to a show of your choice to compensate for the inconvenience. ...
Find your perfect current account image
Source : Independent [Read Article] Friday 10th of February 2017 08:51:34 PM
...
Related to :
Greek debt crisis: an existentialist drama with no good end in sight | Larry Elliott image
.... Causing consternation in Brussels, the new American president has said the EU has become a vehicle for German interests. His trade adviser Peter Navarro has accused Germany of being a currency manipulator, using a ”grossly undervalued” euro to run up a massive current account surplus. ...
What the dip in sterling means for your holiday image
Source : Daily Express [Read Article] Sunday 29th of January 2017 12:01:00 AM
.... S. aga Platinum waives charges, but is restricted to the over 50s, while the charge-free Nationwide Select Credit Card is only open to the building society’s current account customers. ...
Whistleblower wins out over HSBC charges; plus, Sky ditches the dishes image
Source : Guardian [Read Article] Thursday 26th of January 2017 02:25:22 PM
....Hello and welcome to this week’s Money Talks – a roundup of the week’s biggest stories and some things you may have missed. Yorkshire building society to close 48 branches and ditch current accounts. ...
Yorkshire building society to close 48 branches and ditch current accounts image
Source : Guardian [Read Article] Wednesday 25th of January 2017 04:06:52 PM
....The announcement came 24 hours after HSBC said it would be shutting another 62 branches this year, on top of 55 already earmarked for closure. The Yorkshire, Britain’s second largest building society, will quit the current account market in order to concentrate on mortgages and savings. ...
Banks scale bank on ‘sweeteners’ used to tempt customers to switch current account image
....”. She said the Halifax Reward current account has a £15 monthly overdraft fee, adding up to £180 for those remaining overdrawn for a year. ...
‘Barclays took my £440,000 and put me through hell’ image
Source : Guardian [Read Article] Sunday 22nd of January 2017 07:00:23 AM
.... “De-risking is banks acting in a blanket way … it will make potentially significant parts of geographic, ethnic and business classes unbanked if allowed to continue,” the FCA’s chief executive told MPs in 2015. The Financial Ombudsman Service, which handles unresolved customer complaints, categorises all cases under the financial product in question, such as current accounts, rather than the nature of the issue, so it can’t tell whether complaints about closures are on the rise or whether certain ethnic groups are disproportionately affected. ...
Seeing red when Green Motion took £2,500 for a refuelling ‘mix-up’ image
Source : Guardian [Read Article] Sunday 22nd of January 2017 07:00:23 AM
.... It was signed in and accepted by Green Motion. More than two months later, however, £2,495 was taken from my Barclays current account because Green Motion claimed I had misfuelled the car. ...
Your money: Hidden costs behind your financial products image
Source : Daily Express [Read Article] Sunday 22nd of January 2017 12:01:00 AM
....A number of savings accounts limit the number of penalty-free withdrawals, so check the small print, Hagger says. BANK ACCOUNTS Banks are battling for your current account business but you must look beyond the headline rates and extras. ...

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