Current accounts news, Jan - Mar 2007

OFT to investigate current account fees

30 March 2007

Following weeks of pressure from consumer action groups, the Office of Fair Trade (OFT) has announced its decision to mount an investigation into the fees being levied at current accounts customers.

RBS employees forced to be loyal with current accounts

28 March 2007

Employees of the Royal Bank of Scotland (RBS) have been informed that they must take out a current account with the bank or one of its sister firms, or risk not being paid.

BBA sees increase in basic bank accounts

21 March 2007

Increasing numbers of consumers are choosing to get access to the financial system by setting up basic bank accounts, new research by the British Bankers' Association (BBA) shows

Banks warned as 83% threaten to switch

12 March 2007

Current account holders are proving to be increasingly fickle towards their providers after research revealed that 83% of them would switch banks if charges were brought in.

FSA drafted into current accounts complaints row

06 March 2007

An investigation by the Financial Ombudsmen (FOS) has revealed that some customers are being forced to deal with retaliatory action after they have issued a complaint about unfair charges on their current accounts.

Consumer watchdog calls for banks to be more transparent

02 March 2007

The National Consumer Council (NCC) has called for banks to provide clearer, more comprehensible information to their clients and to conduct themselves more transparently.

Current account holders urged to check small print

02 March 2007

The latest figures from the Royal Bank of Scotland's Group (RBS Group) have revealed profits in 2006 of £9.414 billion, up 14% from the previous year

RBS switcher campaign to move south of the border

28 February 2007

A successful campaign which sees new customers being rewarded £100 for switching their current accounts to the Royal Bank of Scotland (RBS) is due to be rolled out across England this week.

Consumers warned to be aware of automatic upgrades

21 February 2007

British current account holders are being warned to check their statements this week after Citibank announced that it would automatically be upgrading all its current account users to a Citibank Plus account.

Free banking is on way out, says iva.co.uk

19 February 2007

Following the decision of First Direct to charge its customers for using their current accounts, iva.co.uk believes it's only a matter of time before all banks begin charging consumers for using their bank's facilities.

Couples should consider new current accounts

12 February 2007

With Valentine's Day around the corner, it could be time for many people to divorce from their existing current account and look for a better deal elsewhere

Online banking popular with over-45s

09 February 2007

A new survey from financial services provider Birmingham Midshires has revealed that a significant number of people over the age of 45 use the internet to keep tabs on their finances

Consumers urged to check internet only current accounts

08 February 2007

Those using internet and telephone only bank accounts have been advised to check to make sure they are still getting the best deal

Abbey praises switching revolution

07 February 2007

As switching fever hits Britain, Abbey has praised the high levels of competition in the current accounts arena and has declared that it feels strongly that consumers will choose its market leading 6.30 per cent AER offer.

Halifax announces rate rise for current account

02 February 2007

Interest rate rises aren't always bad news, as Halifax has proven this week by announcing that its high-interest current account customers will benefit from the Bank of England's decision to raise the base rate as soon as February 5th.

Online banking leads to local branch closures

22 January 2007

As more consumers turn to online banking to manage their current accounts, many of the high streets' top banks and lenders are choosing to close their rural branches.

NatWest launches first Polish current account in Britain

16 January 2007

In response to the large number of Polish immigrants, NatWest has launched the UK's first Polish current account that will allow customers to utilise current account services in Britain and access their funds in Poland.

Consumers are missing out on current account revolution, says Abbey

11 January 2007

A recent survey carried out by Abbey has revealed that Brits are still not taking advantage of the best current accounts on offer, preferring instead to opt for what experts are labelling "banking inertia".

Online banking beats telephone banking for first time

05 January 2007

Research from the UK payments association Apacs has revealed that online banking has outstripped telephone banking for the first time, confirming analysts' beliefs that online banking is becoming increasingly popular across the nation.



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