Nationwide has stuck its neck out today by launching an interest-earning current account, the first time that the bank has changed the line up of products it offers in over twenty-five years. This just goes to demonstrate the changes that are being felt throughout the banking industry and the struggle traditional providers are having to […]
Category: News
George Osborne Performs Poorly In Front of Banking Standards Commission
Chancellor George Osborne turned up to answer the questions of the Parliamentary Commission yesterday and gave a very poor performance, allowing the members of the commission to repeatedly get one over on him and demonstrating a failure to understand the purpose of the committee in the first place. At the very beginning of his appearance, […]
Moody’s Warns it may Downgrade UK Credit Rating
The credit ratings agency Moody’s has warned that the UK faces having its credit rating downgraded if the government’s failure to grow the economy continues. In a statement, the agency said that the UK government may not be as good at repaying its loans in future as their ability to raise capital is “being hampered […]
Sir John Vickers Will Consider Breaking Up Banks
The chairman of the Independent Commission on Banking has said that he will not back down from breaking up the banks if the current proposition to ring fence their retail and investment sections does not appear to work. The biggest banks in Britain operate on two different platforms. The first is their retail sector, which […]
Only 30% of Savers Beat Inflation
A new survey from RateSetter, a company that operates lend-to-save loans, allowing people to directly loan their money out to people who need it and thus improve the interest rate for both savers and lenders, has revealed that as few as 30% of people may be beating inflation with their current savings account. In their […]
CBI Increases GDP Prediction for 2012
There have been so many different predictions about what 2012 will look like overall from a GDP perspective that is has been hard to keep track of them. Depending on which institutions you listen to and whether you keep up with all of their later revised predictions, you might be expecting Britain’s economy to have […]
Poppy Appeal 3.25% Rate Bond Launched
Coventry Building Society are once again hoping to appeal to people’s sense of charity by launching their Poppy Appeal bond, a savings account that offers a 3.25% fixed rate until December 31st 2014 and allows people to put between £1 and £250,000. What’s more, 0.05% of the total funds that the building society gets from […]
NatWest Bucks the Trend With New ISA Offering
For the last few months, banks have been continually cutting the interest rates they offer on their ISA accounts, with customers seeing the best new deals available drop from offering 3.5% to around 2.5%. It was a trend that looked set to continue, much to the disappointment of savers everywhere. However, NatWest now appear to […]
NS&I Poll Reveals Savers are Happier
A poll by National Savings and Investments has revealed that people who put aside some money into savings are generally happier, having a nice little boost whenever they put money into their savings account or look at their balance to date. The amount doesn’t have to be particularly big either, with customers finding that just […]
Barclays Mis-Sold PPI Compensation Payments Reach £2billion
The amount that Barclays have paid out for compensation to customers to whom they mis-sold payment protection insurance (PPI) has jumped by £700million following an announcement from the bank today, reaching the dizzying height of £2billion. It’s a truly astounding figure and just goes to show how wide spread the mis-selling of PPI truly was. […]