Banks defy watchdog Financial Conduct Authority’s plea – and just carry on shutting branches By Jeff Prestridge, Financial Mail on Sunday Published: 21:50 GMT, 30 January 2021 | Updated: 13:17 GMT, 31 January 2021 The City regulator’s call for banks to reconsider their decision to axe branches during lockdown has fallen on deaf ears. Barclays, … Read more
The new bank set to be launched in the UK by JP Morgan Chase over the next few months could upend Britain’s current account market but is unlikely to be a saviour for savers, experts have suggested. The world’s seventh-largest bank has hired 400 people and is preparing to launch an ‘innovative’ app-based bank in … Read more
The banking bribes work! Halifax attracts thousands of new current account customers after £100 switch bonus launch after the first lockdown Halifax did best between July and September as its £100 offer was snapped up New figures also reveal customers snapped up high street bank bonuses The 189,000 accounts switched in the last 3 months … Read more
At a time of record low savings rates, any bank actually improving the rates they pay to savers is bound to raise an eyebrow or two. But this is especially the case when it comes to Al Rayan Bank and Gatehouse Bank, two Sharia lenders which have upped their savings rates in recent weeks and … Read more
US lender JP Mogan to launch a digital bank in the UK to poach customers from high street giants By Daily Mail City & Finance Reporter Published: 21:51 GMT, 27 January 2021 | Updated: 22:51 GMT, 27 January 2021 JP Morgan is launching a digital bank in the UK America’s largest lender JP Morgan is … Read more
The amount Britons will be able to spend on contactless cards without entering their Pin could more than double to £100 under new proposals put forward on Wednesday by regulators. The Financial Conduct Authority said it would be ‘seeking views’ on whether to up the contactless limit from £45 currently as part of a consultation … Read more
A lost decade for starved Cash Isa savers after inflation outstrips low interest rates interest By Sylvia Morris For The Daily Mail Published: 22:00 GMT, 26 January 2021 | Updated: 22:00 GMT, 26 January 2021 Cash Isas have failed to deliver over the past decade as low rates have left savings to be eaten away … Read more
NS&I ignored savers without the internet before making the decision to axe Premium Bond cheques in the post, insider reports reveal. The savings giant has been accused of abandoning older customers in its drive to axe prize warrants to save money and paper. Now Money Mail has discovered that the bank only consulted customers with … Read more
Britain’s biggest banks have been accused of hiding the true cost of sending money overseas and breaching the ‘spirit’ of new laws designed to bring transparency to international payments. An investigation by This is Money and the currency conversion service Transferwise has found those wishing to send money to European countries are being hit with … Read more
Never in my darkest nightmares last spring did I think we would be starting this year in virtual lockdown. Foolishly, I thought coronavirus would have long been overcome and that life would now be pretty much back to normal. How wrong I was. Although the vaccination programme offers a big injection of hope that an … Read more