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11/04/2013
Post Office To Launch Current Account
Following a regulator’s claim that consumers are not offered much choice in the UK’s banking market, the Post Office has announced it will launch its own current account.
The new account will be provided by Bank of Ireland and is expected to be fully launched in 2014, although some areas will be offered the account within a few weeks.
No details of what the account will offer customers have yet been released.
In January, the Office of Fair Trading (OFT) said that Lloyds, RBS, Barclays and HSBC held 75% of the UK banking market.
(H/CD)
The new account will be provided by Bank of Ireland and is expected to be fully launched in 2014, although some areas will be offered the account within a few weeks.
No details of what the account will offer customers have yet been released.
In January, the Office of Fair Trading (OFT) said that Lloyds, RBS, Barclays and HSBC held 75% of the UK banking market.
(H/CD)
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M&S Current Account To Cost Up To £20 A Month
Following the recent announcement that retailer Marks and Spencer was to launch an in-store banking service, it has now been said that users of its first current account will be charged a monthly fee of up to £20. A number of traditional banks offer "packaged" bank accounts, which also carry a monthly fee.
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Free Banking 'A Dangerous Myth'
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Andrew Bailey, due to become the chief regulator of the financial services industry, has said that free banking is "a dangerous myth". Saying that while customers may think their account is free, the true costs are actually hidden. These hidden costs would include the extremely low interest rate that many banks offer on current accounts.
02 July 2013
£3,000 Overdraft Offered With Student Bank Account
Halifax have announced they will again offer an overdraft of up to £3,000 with the student accounts for the next academic year. Last year, Halifax's overdraft was the largest offered on an account the bank says is 'designed by students for students'. It is the largest again this year of the three banks to announce their student accounts.
£3,000 Overdraft Offered With Student Bank Account
Halifax have announced they will again offer an overdraft of up to £3,000 with the student accounts for the next academic year. Last year, Halifax's overdraft was the largest offered on an account the bank says is 'designed by students for students'. It is the largest again this year of the three banks to announce their student accounts.
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Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
