Co-operative Bank launches talking ATMs
The Co-operative bank has followed in the footsteps of Barclays, by installing talking cash machines on the streets of the UK. The machines will be aimed at helping blind and partially sighted consumers operate the ATMs, by providing an automated service as well as clearer, high resolution screens.
400 of the units have initially been installed by The Co-operative, while a further 2000 are expected over the next 18-24 months.
The service will not be limited to Co-op customers, and the speech option can be enabled by plugging a pair of headphones into the ATM. Comments made by head of payments at the Co-operative Bank, David Fawell, explain the move: “We are committed to implementing talking and high contrast services on our cash machines.
“We have started to roll out and by the end of 2013 we will have 1000 of our ATMs enabled to talk”
The move has struck a chord with the Royal National Institute for Blind People (RNIB), which has issued its support for the scheme. The Co-operative has also received support from customers, with Rob Ellis from Colchester commenting: “I feel it is essential for banks to assist their blind or partially sighted customers. Conveniently there is one 400 yards from my house and it has made such a difference”.
Barclays Bank feels the Lehman Brothers backlash
While initial rumours of a Barclays Bank led bailout of US giant Lehman Brothers did not hold much sway with traders, the mood suddenly turned a little sour when it was confirmed that the group was in talks with the US giant about a takeover. While the deal was scuppered when the US authorities refused to offer any financial guarantees in the event of more shocks with the balance sheet many trade...Read More
Former Northern Rock chief issues apology
Matt Ridley, the former boss of Northern Rock between 2004 and 2007, has today issued a seemingly heartfelt apology regarding the collapse of the former leading mortgage provider in the UK. Matt Ridley, together with a number of former Northern Rock executives, received severe criticism in the financial press when the bank collapsed and needed £26 billion of taxpayer's money to stop it going out...Read More
Judge calls for bank charges precedent
British law lacks a precedent on legal cases dealing with bank charges, a judge has warned.District court judge Stephen Gerlis told the Today programme that no appellate court decision has been made on the issue, meaning judges are not bound by a definitive view of the law in this area.The Office of Fair Trading is currently undertaking an investigation into bank charges levied on customers who go...Read More
UK banks forced to detail overdraft charges in the future
The Office of Fair Trading (OFT) has today confirmed an arrangement with 95% of UK banks and building societies which will see overdraft charges detailed more clearly in future bank statements. This would appear to be step one in the fight to make current account more transparent and make customers aware of various scenarios which may well see them receive significant overdraft charges.
One-in-ten adults would fail a simple personal finance exam
Recent research by Abbey Current Accounts has revealed that as many as one-in-ten British adults would score less than 40 per cent in a simple personal finance examination..Abbey arranged for 1031 adults to answer 10 simple questions taken from an examination paper with an equivalent difficulty level difficulty to a GCSE. The results highlight a worrying absence of basic personal finance skills am...Read More