The number of current accounts that charge customers now exceeds the number of free banking accounts. That’s the conclusion of a recent report from the Financial Times which has found that free banking in the UK is in decline as more and more banks charge for banking services. The newspaper reports that there are now [...]
Banks offer a wide range of incentives to consumers to encourage them to switch their banking. Packaged current accounts often offer travel insurance, an interest-free overdraft and mobile phone protection to account holders who move their current account, while some deals offer preferential rates on other financial products. Now, however, a leading newspaper has found [...]
A leading authority has called for changes in order to make it easier for consumers to switch their UK bank account. The Independent Commission on Banking (ICB) has made a series of recommendations which would make it easier for UK account holders to compare bank accounts and switch their banking from one provider to another. [...]
You may or may not be aware that massive changes to the banking system are on the horizon – if not you should be. On 16 June 2010, the Chancellor of the Exchequer announced the creation of the Independent Commission on Banking. The purpose of the commission is to consider reforms to the structure of [...]
Recent data from the Financial Services Authority (FSA) has found that current accounts were the UK’s most complained about financial product in the second half of 2010. There were almost half a million complaints to the FSA about current accounts between July and December 2010. Almost 50 per cent of complaints upheld by FSA The [...]
According to a leading professional services firm, banks may be charging all consumers for holding a UK bank account within the next five years. Global professional firm KPMG has suggested that due to the reduced profitability of the best bank accounts, customers could be paying for banking services sooner rather than later. Even the best [...]
Women are taking more control of family finances and are increasingly responsible for what goes in and out of bank savings accounts. That is the conclusion of a new survey which has found that the days of men making financial decisions at home are long over. More and more women compare bank accounts to make [...]
There are so many types of current accounts available from different banks that it can be a little confusing as to which one you should go for. The best thing to do is to compare current accounts using specialised tools on the internet which outline the big picture (the current list of bank accounts available [...]
Splitting up with a spouse or partner can be tough. As well as issues surrounding your personal belongings, your home and your children, financial concerns when separating can be extremely stressful. In addition to dividing savings and assets, you may have joint bank accounts that you need to deal with. Closing joint bank accounts as [...]
Many banks have current accounts for young people. A young persons’ current account is usually for ages 16 to 21, although you can find basic accounts for customers as young as 12 or so. Older children may have accounts with ATM cards or debit cards, and some may include a small overdraft allowance. Every child [...]
