Banking

banking

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RBS pays £846m fine

RBS pays £846m fine

RBS are going to pay $1.1 billion (that's £846 million to you) to settle National Credit Union Administration claims that they sold faulty mortgage-backed securities to American credit unions. This is the latest in a number of settlements which has seen banks paying huge amounts of money, from sales which related to the collapse of…

More protection from bank scams, please

There's a financial scam every 15 seconds, and over at Which!!!, they're worried that there's not enough protection for those who fall foul of them. They say that those who have been conned out of money haven't got a legal right to get their money back from their banks, and as such, they've raised a…

Santander pulls out of RBS talks

RBS needs to sell a whole load of their Williams & Glyn branches, by the end of next year under European state aid rules. Santander were eyeing over 300 branches up, but have pulled out of talks, leaving RBS in a sticky position once again. RBS is still 73% owned by taxpayers after their £45…

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£200 to switch with HSBC

£200 to switch with HSBC

HSBC have relaunched an offer that they did back in May, where you can get £200 to 'switch and stay', to anyone who opens an Advance or Premier account, and stays with HSBC for 12 months. Of course, there are caveats. You'll need to be able to deposit £1,750 will qualify for the Advance Account,…

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New polymer £5 note are go!

New polymer £5 note are go!

The new plastic (or polymer, if you prefer) £5 note is ready to go, and has started entering circulation, which means you could have one in your hands very soon. Feel free to be unimpressed, or overreact on social media because you don't like change. This new note is supposed to be stronger, and safer.…

Beta pensions dashboard due by March

There's been a lot of talk about the government's pensions dashboard, and it looks like there's going to be a beta version ready to try out, in time for March 2017. The Treasury has come to an agreement with some of the pension sector's biggest players, with Aviva, HSBC, Royal London, Standard Life and Zurich…

HSBC accounts get on the selfie action

Selfies eh? Old people think that they're the epitome for vanity, while young people continue to take them and wish that old people would just die already. Banks have been keeping a keen eye on the whole thing, and over at HSBC, they're looking away from passwords and the like, as HSBC business customers will…

MasterCard refunds - the latest

We told you about the potentially massive fine that Mastercard are looking at, and how that could see millions of customers getting compensation. There's talk of £14 billion leaving Mastercard's account, and in the latest on all this, yesterday, lawyers filed their case at the Competition Appeal Tribunal. The lawyers think that (up to) 46…

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Digital shake-up for banks

Digital shake-up for banks

The banks of the UK aren't exactly trusted by consumers, and with that, the Competition and Markets Authority (CMA) have brought about new measures to shake things up. The CMA have said that banks need to improve their mobile services, as well as making it easier for people to switch. Another big bit of news…

Pension case brought against Lloyds

There's trouble with the Lloyds Banking Group, and this isn't about shares and PPI scandals - this time, they're getting in legal trouble over the pensions they give their staff. The Lloyds Trade Union, numbering 30,000 members, are starting to take action against the bank about a problem which could cost big UK companies £20…

PPI deadline confirmed - hurry up and make your claim

If you haven't made your PPI claim yet, you'll now have until June 2019 to get your compensation from the mis-selling scandal. Now, before we continue, we'll again point out that you can make your own claim and it is completely free. Don't give money to people who say they'll do it for you. It…

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Lloyds to close 200 branches

Lloyds to close 200 branches

The Lloyds Banking Group has announced that they're going to close 200 branches, and with that, go 3,000 jobs as well across the UK. To add to the cheerful news, they also announced that they're looking at cutting interest rates following the UK's EU Referendum. All-in-all, they're looking at saving £400 million in the process.…

Santander to cut interest rate?

Santander are launching a lite version of their popular 123 account. However, the main 123 account could see its interest rate cut, which is a bit of a kick in the teeth for customers. The bank has been looking at cutting the interest rate on the 123 Current account from 3% to 2%, which could…

Credit card holders to be texted when deals end

Around 5 million credit card holders are going to be getting texts and emails when introductory deals end, and when new (often rip-off) fees kick in. This is all thanks to a new crackdown by City watchdogs, the Financial Conduct Authority (FCA). Basically, if you've been wooed with a good deal on a credit card,…

RBS may charge to keep money in accounts

The financial situation, post EU Referendum, is frankly, a mess. The Bank of England are weighing up whether or not to cut base rates below zero, and as a result, RBS Group have issued a warning that customers could be charged for their accounts, even if they're in credit. That's a negative interest rate, for…