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Market Oracle FREE Newsletter

Category: UK Banking

The analysis published under this category are as follows.

Personal_Finance

Tuesday, September 08, 2015

UK Best Current Accounts - The End of ‘Free’ Banking? / Personal_Finance / UK Banking

By: MoneyFacts

This month marks the two-year anniversary of the Current Account Switch Guarantee, and while many consumers have already taken advantage and switched providers, greater momentum could be caused by incoming changes to the retail banking market.

Last month the CMA reported that of the 17% of customers who start looking to switch their current account, a staggering 86% don’t go on to switch. It is also estimated that the annual rate of switching stands at just 3%, and worryingly, 25% of switchers move their account without researching the market first.* Meanwhile, frequent overdraft users were found to be the least likely group of consumers to move, due to the hurdles of securing an overdraft facility with their new bank and the complexities of comparing account charges (something that is increasing in importance as average authorised overdraft usage fees have crept up from £4.59 to £6.74 in just two years).

Read full article... Read full article...

 


Politics

Monday, September 15, 2014

Bank of England Panic! Scottish Independence Bank Run Already Underway! / Politics / UK Banking

By: Nadeem_Walayat

Whilst most of the people of the UK are focused on the increasing frenzy of the too and fro politicking going on in Scotland in the build up to September 18th referendum, unbeknown to most including the mainstream media is that there is already a bank run underway not only in terms of flight of capital from Scottish banks but that is hitting the whole of the UK hard in terms of capital outflows.

Understand this - It does not matter what the Bank of England states following a YES vote on September 18th - There will be a run on Scottish Banks by panicking depositors just as there was on Northern Rock.

Read full article... Read full article...

 


Personal_Finance

Thursday, May 29, 2014

UK Citibank USD Current Account Continues Ramping Up Fees / Personal_Finance / UK Banking

By: Nadeem_Walayat

Once upon a time the Citibank USD current account was by far one of the best such accounts on the market for depositing USD cheque's in the UK, where typically 1.75% was added to the spot GBP exchange rate and if lucky at best as little as 1.5% or at worst rarely more than about 2.2% with no other fees as long as £2,000 or equivalent was always kept on deposit.

Read full article... Read full article...

 


Personal_Finance

Wednesday, August 22, 2012

Bank Current Account Overdraft Chargers, the End of Free Banking / Personal_Finance / UK Banking

By: MoneyFacts

Why do banks need to charge for current accounts? Over the last ten years, the Bank of England Base Rate has fallen drastically but overdraft rates have had a ‘cushioned’ fall. 

The table below shows the average overdraft rate over the last ten years alongside BoE Base Rate. It highlights that although base rate is at an all-time low of 0.5%, overdraft charges are still making a sizable return for the banking sector.    

Read full article... Read full article...

 


Personal_Finance

Tuesday, August 07, 2012

UK Savings and Loans Market Rates Credit Crunch Five Years on / Personal_Finance / UK Banking

By: MoneyFacts

We are now five years into the credit crunch and the following table shows how it has affected our personal finances.

Read full article... Read full article...

 


Politics

Saturday, June 30, 2012

Bank of England, FSA and Politicians Try to Insulate themselves from Bankster Fraud Fallout / Politics / UK Banking

By: Nadeem_Walayat

Best Financial Markets Analysis ArticleThe Bank of England, FSA and politicians of all parties have been busy all week putting up multiple screens of smoke and mirrors to try and separate themselves from their bankster brethren despite the facts of close relationships between all parties that amounts to negligence to regulate and hold bankster's to account where the fundamental fact remains that despite all of the continuing crimes amounting to an ongoing risk of actual bankruptcy of Britain i.e. continuing to inflict far more financial damage than the likes of Al-Qeeda could ever have hoped to have imagined to achieve, NO bankster criminal has gone to prison! The only consequence so far has been to lose a bonus for a year or two, let alone face the sack.

Read full article... Read full article...

 


Portfolio

Tuesday, January 17, 2012

The Battle for the UK Current Bank Account Switcher / Portfolio / UK Banking

By: MoneyFacts

Moneyfacts research has shown that there has been an increasing amount of switcher incentives introduced in the last few weeks.

High street lenders including Halifax, HSBC and Santander have all launched deals to attract new customers, offering a cash payment or interest-free overdrafts.

Read full article... Read full article...

 


Personal_Finance

Saturday, December 03, 2011

How to Protect Your Bank Deposits, Savings From Euro-zone Collapse Financial Armageddon / Personal_Finance / UK Banking

By: Nadeem_Walayat

Best Financial Markets Analysis ArticleThe Governor of the Bank of England, Mervyn King, woke up form financial paralysis to warn UK Banks to prepare themselves against the risks of a collapse of the Euro-zone by forgoing annual bonus payments (based on fictitious tax payer funded profits) and instead shore up their capital against the wave of defaults and bankruptcies both banking and commercial that would follow a collapse of the Euro-zone.

Read full article... Read full article...

 


Personal_Finance

Saturday, November 19, 2011

Citibank UK U.S. Dollar Current Account Now Charging for Depositing Cheque's, How to Make an Extra 1% on Transfers / Personal_Finance / UK Banking

By: Nadeem_Walayat

Citibank for a number of years has provided UK customers a U.S. Dollar Checking account without fees if the balance across all Citi accounts is above £2,000. This has proved especially useful in depositing dollar cheque's that normally attract significant fees per cheque in addition to exchange rate spread mark-ups.

Read full article... Read full article...

 


Personal_Finance

Monday, July 18, 2011

UK Graduate Bank Accounts Analysis / Personal_Finance / UK Banking

By: MoneyFacts

Best Financial Markets Analysis ArticleAs another academic year closes, many graduates are leaving university uncertain of their future. Unemployment remains high and could increase further once public sector cuts are fully realised, leaving limited job opportunities for graduates.

The transition of moving from full time study to full time employment can be a difficult period, but its important graduates prioritise on tackling what is likely to be a large student debt.

Read full article... Read full article...

 


Personal_Finance

Sunday, June 26, 2011

UK Safe Retail Banks List / Personal_Finance / UK Banking

By: Nadeem_Walayat

Best Financial Markets Analysis ArticleThe following table lists Britain's major retail banking groups (separate licences) in terms of the percentage probability that your deposits above the UK compensation limit of £85k and Euro-zone banks 100,000 (current £/E £86k) would be secure in the event of a series of euro-zone debt defaults starting with Greece and that the crisis is contained to these smaller peripheral euro-zone countries i.e. Greece, Portugal and Ireland, if Spain comes under real risk of default then that would require a revaluation of this list as banks such as Santander would come under far greater pressure given exposure to Spanish government debt.

Read full article... Read full article...

 


Personal_Finance

Monday, June 20, 2011

Euro-Zone PIIGS Greece Default Bank Run Contagion Risk - Santander Anyone? / Personal_Finance / UK Banking

By: Nadeem_Walayat

Best Financial Markets Analysis ArticleThe Greeks had set the ball rolling by withdrawing their funds out of their banks during May and June as a consequence of their exposure to Greek Government debt, soon to be followed by Banks across Europe if not already in the process of desperately attempting to pull their funds out of Greek banks ahead of an inevitable debt default, and then from other PIIGS banks and financials, that's banks of Portugal, Ireland, Italy, and Spain as well as Greece on rising default contagion risk.

Read full article... Read full article...

 


Personal_Finance

Sunday, June 19, 2011

Warning on Banks PPI Complaints and Compensation Claims / Personal_Finance / UK Banking

By: Nadeem_Walayat

The banks and building societies after losing a court case in April brought by the British Bankers Association, are being forced to repay approximately £5 billion in mis-sold payment protection insurance to their customers that in the vast majority of cases proved totally worthless. Barclays has already set the ball rolling by trying to ingratiate itself with its angry customers by automatically refunding all legitimate claims that have already been submitted to date, with the other banks seeking to write to upto 3 million customers over the coming months.

Read full article... Read full article...

 


Personal_Finance

Wednesday, October 06, 2010

Fee Paying U.K. Current Accounts Double, Big Profits for the Banks / Personal_Finance / UK Banking

By: MoneyFacts

In the current economic climate, current account credit interest rates have fallen significantly. So much so, that a number of providers have decided to scrap paying credit interest altogether.

In recent weeks, NatWest and RBS have stopped paying credit interest on all of their current accounts.

Read full article... Read full article...

 


Personal_Finance

Thursday, September 09, 2010

Banks Hit Customers With Increased Overdraft Intereat Rates Despite No Change in Base Rate / Personal_Finance / UK Banking

By: MoneyFacts

Recent figures from the Bank of England show overdraft rates at an all time high.

In the last 18 months, more than a quarter (26%) of current accounts have seen increases in their authorised overdraft rates, despite no change in the bank base rate. (See appendix for full details)

Read full article... Read full article...

 


Personal_Finance

Monday, August 02, 2010

Graduate Finance Best Current Bank Accounts / Personal_Finance / UK Banking

By: MoneyFacts

Best Financial Markets Analysis ArticleAs another academic year closes, many graduates are leaving university to enter very challenging times. Unemployment remains high and could increase further once public sector cuts are fully realised, leaving limited job opportunities for graduates.

Read full article... Read full article...

 


Personal_Finance

Friday, June 11, 2010

MoneyFacts Best UK Personal Finance Provider Awards of 2010 / Personal_Finance / UK Banking

By: MoneyFacts

Best Financial Markets Analysis ArticleThe winners of the 2010 Moneyfacts awards were announced this afternoon at the Millennium Hotel, Mayfair, London. Some 300 industry professionals from leading financial institutions gathered at a special luncheon hosted by ITV News’ Economics Editor, Daisy McAndrew.

Read full article... Read full article...

 


Personal_Finance

Wednesday, May 12, 2010

UK Bank Overdraft Interest Rates Hit Decade High / Personal_Finance / UK Banking

By: MoneyFacts

Best Financial Markets Analysis ArticleDespite bank base rate being at an all time low, authorised overdraft rates have hit their highest level in a decade.

The average authorised overdraft rate now stands at 14.22%. The last time overdraft rates were this high, bank base rate was 6.00%.

Read full article... Read full article...

 


Personal_Finance

Tuesday, March 23, 2010

The Beginning of the End of Free Banking / Personal_Finance / UK Banking

By: MoneyFacts

Speculation is rife that in tomorrow’s Budget, the Chancellor, Alistair Darling will announce that all UK citizens must be offered a basic bank account from UK banks if they want one.

Currently, basic bank accounts are available to the majority of customers, with only a few being declined in exceptional circumstances, including having a previous bankruptcy judgement against them.

Read full article... Read full article...

 


Companies

Tuesday, March 09, 2010

Standard Life Online Customer Account Access Offline for 24hours+ / Companies / UK Banking

By: Nadeem_Walayat

Standard Life's online banking operations have now been offline for a whole 24 hours.

Users attempting to log in to their online accounts may be met with the following message -

Read full article... Read full article...

 


Companies

Friday, February 26, 2010

LLoyds TSB a Crippled, Customer Hated Bank Declares £6.3 Billion Loss / Companies / UK Banking

By: Nadeem_Walayat

Best Financial Markets Analysis ArticleThe 41% tax payer owned Lloyds TSB bank continues to declare abysmal losses of £6.3 billion for 2009 against £6.7 billion for 2008 as a direct consequence of the HBOS cancer that continues to eat into the banks balance sheet. The balance sheet suffered a £24 billion bad loans impairment, against profits generated by the branches of £1.3 billion and against £20 billion of tax payer capital injected into the bank and a further £150 billion of tax payer loans and guarantees.

Read full article... Read full article...

 


Companies

Monday, December 21, 2009

HSBC (HBC) to Become First Non Chinese Company Listed in Shanghai / Companies / UK Banking

By: Trader_Mark

In early fall we had mentioned China potentially listing its first "outside of the country" company [Sep 11, 2009: China Opens Door to Foreign Listings] as the country takes baby steps in becoming a full fledged international monetary exchange of every sort (this will take many years).  Banking giant HSBC (HBC) noted it would want to be all over this...

Read full article... Read full article...

 


ConsumerWatch

Wednesday, November 25, 2009

Supreme Court Sides with Banksters on Overdraft Bank Charges / ConsumerWatch / UK Banking

By: MoneyFacts

Michelle Slade, spokesperson for Moneyfacts.co.uk comments: “The shock decision by the Supreme Court is going to leave some consumers even more disillusioned with banks.  

“Consumers have seen billions of pounds pumped into a number of banks, but many feel they have seen little benefit.

Read full article... Read full article...

 


Companies

Saturday, November 14, 2009

Halifax HBOS Banking Systems Crash, Online and ATM Services Down / Companies / UK Banking

By: Nadeem_Walayat

Best Financial Markets Analysis ArticleThe Halifax (HBOS), Britians biggest mortgage bank that has been bailed out by tax payers saw its banking systems crash several hours ago with no resolution to the problems so far. It looks like the bulk of the banks systems have crashed which include online banking and ATM machine services though branches are reported to be operating normally. ATM's are also down for the other big tax payer bailed out bank, Royal Bank of Scotland (RBS).

Read full article... Read full article...

 


Personal_Finance

Thursday, October 22, 2009

HBOS Halifax Taking Extra From Customers With Fee Structure Changes / Personal_Finance / UK Banking

By: Nadeem_Walayat

Best Financial Markets Analysis ArticleThe Halifax, one of Britains biggest tax payer bailed out banks that was forced to merge with Lloyds TSB to avoid bankruptcy has been busy sending customers correspondence warning of proposed changes in the way it charges fees effective from 6th December 2009.

Read full article... Read full article...

 


Personal_Finance

Tuesday, August 04, 2009

Most Current Accounts Pay Little or No Interest on Your Money / Personal_Finance / UK Banking

By: MoneyFacts

If you want to earn interest on your money, then don’t leave it in your current account.

Latest Moneyfacts.co.uk figures show that 83% of all non fee paying current accounts pay just 0.10% or less, with half (49%) of accounts paying no interest at all.

Read full article... Read full article...

 


Personal_Finance

Thursday, July 16, 2009

Graduate Finance, Bank Accounts Overdraft and Fees Analysis / Personal_Finance / UK Banking

By: MoneyFacts

Best Financial Markets Analysis ArticleAs another academic year draws to a close, many graduates are leaving university to enter very challenging times. The recession is having a detrimental effect on the number of jobs available, so it is important that students take their finances seriously.

Read full article... Read full article...

 


Personal_Finance

Tuesday, June 23, 2009

Best UK Financial Products and Services Award Winners 2009 / Personal_Finance / UK Banking

By: MoneyFacts

Best Financial Markets Analysis ArticleThe winners of the 2009 Moneyfacts Awards were announced today at the prestigious Brewery venue in London. Industry professionals from the leading financial institutions and industry bodies gathered at a special awards lunch hosted by Bill Turnbull, of BBC Breakfast and Strictly Come Dancing fame. This widely anticipated and well supported event celebrated the best products and service in the personal finance world, showcasing those providers that continue to support the sector at a time when its success and growth has never been more important.

Read full article... Read full article...

 


Companies

Monday, September 15, 2008

Hedge Funds Target Halifax, HBOS as Shares Crash 30% / Companies / UK Banking

By: Nadeem_Walayat

Best Financial Markets Analysis ArticleFollowing on from the collapse of Lehman Brothers during the weekend, the financial sector was expected to be hit hard and to drag the overall market lower by some 5%. Whilst most of the big UK banks experienced falls in the order of 15%, Britain's biggest mortgage bank, Halifax Bank of Scotland (HBOS) crashed by over 30% as clearly hedge funds targeted the bank as a candidate for financial collapse, along the lines of Northern Rocks bank bust in Sept 07.

Read full article... Read full article...

 


Companies

Tuesday, August 05, 2008

Northern Rock Turns Into a Pebble on Huge Loss / Companies / UK Banking

By: Nadeem_Walayat

Best Financial Markets Analysis ArticleThe government propaganda machine were in full swing today emphasing Northern Rock's repayment of £9.7 billion of the approx £27 billion borrowed, whilst at the same time announcing losses of £585 million over the past 6 months, against a profit of £296 for the same period last year, prompting the government to make an equity injection of £3.4billion, which basically means that loans have been replaced by a high risk equity investment the value of which is subject to market pricing, which given that Northern rock is making an annualised loss of over £1 billion equates to virtually zero.

Read full article... Read full article...

 


Companies

Monday, February 18, 2008

Northern Rock Bank Nationalised- Which Bank will be Next? / Companies / UK Banking

By: Nadeem_Walayat

Best Financial Markets Analysis Article

On Sunday Gordon's Darling released the statement that the UK Government would nationalise Northern Rock Bank before Mondays stock market open, as the two takeover proposals virtually guaranteed huge profits for the bidders such as Branson's Virgin group, whilst the government would have been stuck with the debt of as much as £50 billions, sat to wait patiently for upwards of 25 years for the debt to slowly be repaid if at all.

At mid-day today, Gordon Brown the British Prime minister waded in to support the decision to nationalise the bank in the face of shareholder protests, and said that the delays were necessary so as to weigh potential private sector alternatives to nationalisation.

Read full article... Read full article...

 


Companies

Tuesday, January 15, 2008

Northern Rock Bank to be Nationalised by UK Government / Companies / UK Banking

By: Nadeem_Walayat

It now seems like another era when I first warned of the problems specifically facing Northern Rock bank back in August 2007, some four weeks before the run on the bank occurred and the interbank money markets freeze hit the headlines. Over that period we have witnessed the initial £2 billion of tax payer loans and guarantees mushroom to an estimated £55 billions today.

Read full article... Read full article...

 


Companies

Tuesday, December 18, 2007

Northern Rock Bank Could Consume Entire NHS Budget of £100billion / Companies / UK Banking

By: Nadeem_Walayat

The UK Government effectively announced the nationalisation of Northern Rock Bank as the Treasury extended its guarantees beyond the current estimate of monies loaned of £25 billion to cover all deposits and debts of the Bank, which amounts to more than £100 billion or the annual UK health service budget.

Read full article... Read full article...

 


Personal_Finance

Wednesday, November 21, 2007

How To Protect Yourself From UK Child Benefit Bank Records Loss / Personal_Finance / UK Banking

By: Sarah_Jones

Best Financial Markets Analysis Article

The Child Benefit Agency has lost the personal details of every parent who receives child benefit, including names, addresses, dates of birth, national insurance numbers, child benefit numbers and bank accounts. As a result, 25 million people are now vulnerable to identity fraud if the data on two discs falls into the wrong hands.

They aren't the only ones. In a matter of weeks, data breaches have been reported by organisations as diverse as Standard Life and Next.

Read full article... Read full article...

 


Interest-Rates

Thursday, October 25, 2007

Bank of England Financial Stability Report - A Repricing of Risk Tests the Resilience of the Financial System / Interest-Rates / UK Banking

By: BoE

The Bank of England is today publishing its Financial Stability Report. This provides an initial assessment of the causes of the recent financial turmoil, lessons to be learnt and prospects ahead.

Read full article... Read full article...

 


Companies

Friday, October 12, 2007

Virgin Group Rescue Bid for Northern Rock Bank / Companies / UK Banking

By: Sarah_Jones

A consortium led by Richard Branson's Virgin Group has submitted a rescue offer to the Northern Rock Bank's board of directors.

Read full article... Read full article...

 


Companies

Tuesday, September 25, 2007

Northern Rock Bank to Postpone Payment of £59million Dividend / Companies / UK Banking

By: Phillipa_Green

Northern Rock's board of directors is meeting to agree to the deferment of the interim dividend totaling £59 million, announced in July 07 just prior to the impact of the credit crunch. The dividend amounts to 14.2p per share and would represent 8% of the current value of the company.

Read full article... Read full article...

 


Interest-Rates

Wednesday, September 19, 2007

Bank of England Rocked by Banking Crisis, Mervyn King Ponders Resignation After BoE Climb-down / Interest-Rates / UK Banking

By: Adrian_Ash

Best Financial Markets Analysis ArticlePolitical Ravishment! Or, a Tale of Two Bankers "...O you villain! Have I kept my honor so long to have it broke up by you at last...?"

THE OLD LADY'S in danger, and not for the first time. As a political cartoon by James Gillray reminds us each morning, hung by the door here at BullionVault , the Bank of England's virtue came under attack in the late eighteenth century.

Read full article... Read full article...

 


Companies

Monday, September 17, 2007

Northern Rock Savings 100% UK Government Guarantee / Companies / UK Banking

By: Nadeem_Walayat

The British Government stepped in today to guarantee ALL Savings in Northern Rock Bank at 100% in an announcement a few minutes ago.

The chancellor of the exchequer, Alistair Darling stated: "I can announce today that following the discussions with the Governor (of the Bank of England) and the Chairman of the FSA, should it be necessary, we, with the Bank of England would put in place arrangements that would guarantee all the existing deposits in Northern Rock during the current instability."

Read full article... Read full article...

 


Stock-Markets

Monday, September 17, 2007

Northern Rock Panic - FSA Compensation Scheme Savings Limits Are Too Low and Need to Be Raised / Stock-Markets / UK Banking

By: Nadeem_Walayat

Best Financial Markets Analysis ArticleThe run on Northern Rock bank by customers withdrawing hard earned savings could have been avoided by a decent amount of compensation security. The current limits set some 10 years ago are far too low to offer much security to all but minimal savings levels.

Read full article... Read full article...

 


Personal_Finance

Thursday, August 09, 2007

UK Savings, Banking and Mortgage Account Updates / Personal_Finance / UK Banking

By: MoneyFacts

Moneyfacts.co.uk team comments on:
o HSBC fee free mortgage
o Rising overdraft rates
o Savings –base rate effect finally over

HSBC fee free mortgage

Read full article... Read full article...

 


ConsumerWatch

Wednesday, August 08, 2007

Bank and Building Society Mergers Can Spoil Your Savings / ConsumerWatch / UK Banking

By: MoneyFacts

UK bank and building society mergers do not benefit their customers, according to a new study. An analysis of UK bank and building society mergers has found that although these mergers have generated substantial efficiencies for the banks concerned these benefits have not been passed on to customers.

Read full article... Read full article...

 


ConsumerWatch

Tuesday, July 31, 2007

How to Avoid Getting Ripped off When Exchanging Your Holiday Foreign Currency Money / ConsumerWatch / UK Banking

By: MoneyFacts

Lisa Taylor from Moneyfacts.co.uk – the money search engine investigates: “With the children’s summer holidays well underway and the UK weather showing little sign of improvement, many of us will be jetting off overseas in the next few weeks. With so many things to get ready, like shopping for your new bikini, sun tan cream and flip flops, no doubt these will all take preference to shopping for the best deal on your foreign money.

Read full article... Read full article...

 


ConsumerWatch

Friday, July 27, 2007

OFT Launches Test Case On Unauthorised Bank Overdraft Charges / ConsumerWatch / UK Banking

By: Submissions

The OFT will today commence proceedings in the High Court for a declaration on the application of the law in respect of unauthorised overdraft charges.

Read full article... Read full article...

 


Personal_Finance

Thursday, July 19, 2007

New Inflation Beater Bond from Leeds BS and Loans Getting More Expensive / Personal_Finance / UK Banking

By: MoneyFacts

Lisa Taylor, analyst at Moneyfacts.co.uk – the money search engine comments:

Loan rates getting more expensive

“Although not directly linked to base rate, a trend has emerged that loan rates are being tweaked quite quickly following base rate rises. However, the size of the rate rises do not always correlate with the increase in base rate, take the examples below, where the loan increases are anything up to one per cent for certain loan amounts. So with that said there must also be other factors contributing towards these rises. Perhaps it’s a combined effect of rising costs and bad debt provisions.”

Read full article... Read full article...

 


Personal_Finance

Tuesday, June 19, 2007

Banks Prepared to Pay You to Bank With Them / Personal_Finance / UK Banking

By: MoneyFacts

Michelle Slade of Moneyfacts.co.uk – the money search engine, comments:“Current accounts are big business for the banks, and this has been made clear by several banks who over the last six months have been offering deals to entice you to switch. Not only does it secure them your prime current account, more importantly, it offers the opportunity to cross sell their whole range of other products.

Read full article... Read full article...

 


Personal_Finance

Friday, June 15, 2007

Top 10 Personal Finance Tips for Graduates by MoneyFacts.co.uk / Personal_Finance / UK Banking

By: MoneyFacts

Andrew Hagger, Head of Press at Moneyfacts.co.uk – the money search engine comments:“On leaving university, searching for the best current account provider may be the last thing on many graduates’ minds. But by taking the time to shop around, they could find an account that suits their circumstances and also save some money into the bargain.

“There are only six UK providers of graduate finance, so choice is limited to the major players.

Read full article... Read full article...

 


InvestorEducation

Tuesday, June 12, 2007

FIAT EMPIRE - Why the Federal Reserve Violates the U.S. Constitution - Video / InvestorEducation / UK Banking

By: Phillipa_Green

Find out why some feel the Federal Reserve System is a "bunch of organized crooks" and others feel its practices "are in violation of the U.S. Constitution." Discover why experts agree the Fed is a banking cartel that benefits mainly bankers, their clients in need of easy money and a Congress that would rather increase the National Debt than raise taxes. This important, Telly Award winning documentary is inspired by the well-known book, The Creature From Jekyll Island by G. Edward Griffin.

Read full article... Read full article...

 


Personal_Finance

Friday, June 08, 2007

UK Savings and Banking Services Update / Personal_Finance / UK Banking

By: MoneyFacts

Moneyfacts.co.uk team comments on:
o Mortgages – the best of both worlds
o The fixed rate mortgage disappearing act
o Post Office card – giving with one hand and taking with the other
o New Halifax Online Card – a great 0% deals
o Personal loan rates take a battering
o Fixed rate ISAs on the up

Read full article... Read full article...

 


Personal_Finance

Tuesday, May 22, 2007

UK Savings and Investment and Banking Services Update / Personal_Finance / UK Banking

By: MoneyFacts

Michelle Slade, Personal Finance Analyst at Moneyfacts.co.uk – the money search engine, comments:

• A new look is not always better – Halifax One Card
• Overdraft Fees: Lloyds takes a stand
• The return of capped rates – Birmingham Midshires
• Fixed rate savings reach new highs
• Over 50s savings grow

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Personal_Finance

Tuesday, May 08, 2007

Personal Finance Update - A&L Regular Saver, Mortgages and PPI / Personal_Finance / UK Banking

By: MoneyFacts

Rachel Thrussell, Head of Savings at Moneyfacts.co.uk – the money search engine, comments:

A&L regular saver makes a comeback

“Alliance & Leicester has relaunched its regular saver, but savers should still be ware of the limitations that such an account offers. Whilst the account offers a market-leading rate of 12%, this is limited to a total investment of £3K over a year, spread across maximum monthly contributions of £250. The account also requires that a Premier Current Account is opened, which pays 1.49% credit interest; that’s 4.45% lower than the award winning Premier Direct Account which Alliance & Leicester offers.

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Personal_Finance

Saturday, April 28, 2007

The OFT to Investigate UK Personal Current Account Charges / Personal_Finance / UK Banking

By: Shahla_Walayat

In a recent statement the Office of Fair Trading announced that it is launching an study into personal bank current account pricing, alongside a formal investigation into the fairness of charges for unauthorised overdrafts and returned items.

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Personal_Finance

Friday, April 27, 2007

An Update on UK Savings Accounts, Mortgages and Store Cards / Personal_Finance / UK Banking

By: MoneyFacts

Rachel Thrussell, Head of Savings at Moneyfacts.co.uk – the money search engine, comments:

Too many poor paying accounts

Moneyfacts.co.uk savings survey – key findings
• Average no notice / instant access savings rate is 3.65% (£5K)
• Average notice savings rate is 3.795% (£5K)
• 25% of no notice accounts pay rates below 3.10%, the CPI figure, while a staggering 69% pay less than 4.80% - RPI.
• 17% of no notice accounts pay rates equal to or greater than 5.25% - Bank Base Rate

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Personal_Finance

Thursday, April 26, 2007

VOTE NOW - Which UK Bank or Building Society Offers the Best Personal Banking Services? / Personal_Finance / UK Banking

By: Shahla_Walayat

The MarketOracle.co.uk asks: of the top UK banking & financial institutions, in your experience which do you consider offers the best personal banking services ?

The key items to consider when deciding your vote :

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Personal_Finance

Wednesday, April 18, 2007

Switching Your Bank Current Account pays – Moneyfacts.co.uk experts practice what they preach / Personal_Finance / UK Banking

By: MoneyFacts

Michelle Slade, personal finance analyst at moneyfacts.co.uk – the money search engine, comments: “If you don’t trust your bank, or feel it is not offering you the best customer service, products or rates then why not vote with your feet and switch providers?

“The current account war shows little sign of abating, with several providers battling to offer the best current account rates and deals. So why not reap the rewards from switching? You will certainly find some great rates and perhaps an additional financial incentive too.

“In previous years Alliance & Leicester comfortably held the top spot for current account credit and debit interest rates, but more recently its position in the credit interest best buy tables has been hotly contested by the likes of Halifax, Abbey and Coventry BS.

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Personal_Finance

Sunday, April 15, 2007

Britain's Least Trusted Banks / Personal_Finance / UK Banking

By: Fool.co.uk

Sonia Rehill writes:
•Barclays is the least trusted bank in Britain.
•Two-thirds of “Big 5” customers do not trust their banks to sell them the right products.
•One in eight customers claim that they have been victims of mis-selling.
•One in six people have had money go missing from their accounts.

Barclays is the least trusted of the “Big 5” high street banks according to new research (1) by independent personal finance website fool.co.uk

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Personal_Finance

Sunday, April 01, 2007

OFT announces 'quick fix' on bank charges will disadvantage consumers / Personal_Finance / UK Banking

By: Submissions

In response to consumer concerns over bank current account charges, the OFT has today announced an in-depth study of retail bank pricing. This will sit alongside a formal investigation into the fairness of bank current account charges.  Full details of the study will be announced in late April, and it is expected to be completed by the end of the year.

This study follows an initial review carried out by the OFT into these charges. The finding of this initial review is that the OFT shares the public concern about the level and incidence of bank current account charges, but it recognises that the application of the general principles it set out in 2006 to the banking industry is not straightforward and that a more detailed examination is needed.

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