Archive for April, 2008
UK consumers against monthly banking fees
The results of a recent survey carried out in the UK has revealed that customers in the UK would prefer to pay charges and penalties on going overdrawn with their current account rather than having a set monthly fee applied to their accounts. There has been a great deal of controversy over bank charges, which are applied for exceeding the overdraft limit, and also for returned cheques and direct debits, and many consumers have been claiming back these fees going back up to six years after regulators labelled them unfair and unlawful last year.
Popularity: 24% [?]
Brits can now buy travel cards from Barclays
One of the concerns of so many Brits taking summer vacations in other countries is how best to carry their money safely. Some vacationers depend on cash and traveller’s cheques, while others rely on using credit cards and debit cards. However, there are risks associated with all of these, especially when it comes to using plastic abroad. Barclays has come up with a safer alternative for using money abroad that is safe along with being easy and convenient to use.
Popularity: 25% [?]
Customers want to see more financial products at the supermarket
According to the results of a recent survey customers in the UK are eager to see a wide range of financial products being made available from their local supermarkets, as many feel that the supermarket can offer far better service and far better value for money on these services and products compared to traditional banks. Many supermarket giants, such as Asda, Tesco, and Sainsbury’s, already offer a range of financial products and services such as insurance, loans, savings, and most popularly credit cards.
Popularity: 34% [?]
There may be future difficulties for credit card customers whose limits were cut
A recent report has suggested that many credit customers who have recently had their credit limits slashed by their card provider could end up experiencing a range of problems in the future, making it difficult for them to get finance as a result of being so close to their credit limits. Many credit card customers have recently found that their credit limit were slashed to just £100 above their existing balance, and the card companies did not even inform them that they were cutting their credit limits.
Popularity: 29% [?]
Scottish and Southern raises prices
Earlier this year, when the other five major energy suppliers hikes up their energy usage prices, Scottish and Southern Energy promised that it would keep prices on hold until the end of March. Although the firm lived up to its promise that time has now come around, and the last of the six major energy suppliers in the UK has now announced that it will be increasing its gas and electricity usage costs from April.
Popularity: 30% [?]
ICICI tumbles on best buy tables
Having enjoyed a high position on the best buy tables for some time, the Indian bank, ICICI, which stormed into the UK markets recently has now decided to reduce the interest rate paid on its HiSave account following the Bank of England’s most recent interest rate cut in February. The bank did not announce its decision to cut the rate for some time following the announcement of the base rate cut, but has now confirmed that the rate on the account is being dropped to 6.16%, which is a cut of 0.25% in line with the base rate cut.
Popularity: 30% [?]
Difficult retirement for those in their thirties
Many consumers in their twenties and thirties give little or no time to the thought of how they will fund their retirements, and a recent report has shown that those in their thirties could be heading towards a very bleak retirement due to lack of money fuelled by frivolous spending and failure to put any money aside for their futures. Hundreds of younger people were polled in a survey for the Skipton Building Society, and the result showed a worrying trend amongst consumers in their thirties.
Popularity: 33% [?]
Customers flocking to put savings with Icesave
Many UK consumers are now taking action with regards to making their savings work harder for them by placing their money into an Icesave account, which pays an impressive interest rates, enabling savers to earn more in interest than they may be getting with their existing provider. Icesave is part of Iceland’s Landisbank, and was launched in October 2006, under one year ago. Since its launch Icesave has enjoyed great success with billions of pounds being invested by savers.
Popularity: 34% [?]
Four Big Banks Not Providing Value and Service to Customers
There are specific standards that banks must adhere to when dealing with the service and value they provide to their customers. According to recent industry reports, the Big Four are enjoying huge annual profits, but are not living up to the required standards with regard to providing service and value to their customers. Barclay’s, Lloyds TSB, NatWest, and HSBC are the biggest banks in the UK and are not rated as the “best buy” in good service or the best value for the money they provide for their customers.
Popularity: 25% [?]
The HBOS crisis – what was it all about?
Just before the Easter break there was chaos in the stock markets in the UK, with HBOS dominating the headlines following rumours that it was on the brink of collapse. However, it emerged that what had actually happened was an alarming scam involving rumours started by unscrupulous stock brokers determine to make a profit on the stock market no matter what it takes.
Popularity: 26% [?]