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Bank Accounts News

Listing 461 articles over 47 pages

Is There A Problem With The UK Banking Complaints System?

Despite the fact that the Financial Services Authority (FSA) last week confirmed that a number of UK banks were under investigation regarding the handling of customer complaints, we have yet to hear the identity of those banks in question. A number of UK entities have already ruled themselves out of the running although others have been less forthcoming with details. As a consequence, UK consumers are still unaware of the identity of those UK banks with "inadequate" complaints procedures - even after the FSA confirmed that 25% of complaints were poorly investigated.

Do You Keep Your PIN Number Hidden?

A report by Which? magazine has highlighted the risks which many UK credit card and debit cardholders are taking with the revelation that many actually write down their pin numbers. A large number of people in the UK tend to keep their pin numbers in wallets, handbags or even type them into their mobile phones leaving themselves at significant risk of fraud and theft.

Does Your Bank Offer A Substandard Customer Service?

The Which? magazine has today issued a report into the UK banking sector after reviewing the standard of customer service available today. The report alleges that Lloyds bank, Halifax and Bank of Scotland (part of Lloyds bank group) have been lacking in the standard of their customer services in recent times.

FSA To Dish Out Fines To UK Banks

The FSA (Financial Services Authority) has today confirmed that two UK banks are in line for significant fines for the mishandling of customer complaints. It was also confirmed that problems have been discovered at five banking groups in the UK, two of which have been referred for further investigation, and five others are currently amending their complaints procedures.

FSA Considering Three New Applications For UK Bank Licences

The FSA is today considering three applications for new bank licences in the UK which will see the sector increase in size and an increase in competition. While the FSA is unwilling at this point to name the three parties in question there is much speculation regarding their identities although nobody has yet stepped forward to confirm or deny the rumours.

Is Northern Rock Heading Back To The Mutual Sector?

The future of Northern Rock is shrouded in mystery today after the Labour Party issued a pledge in its manifesto which could see the company return to the mutual sector. It is believed that the Labour Party is in favour of allowing depositors to retain ownership of the company via a takeover by another mutual or indeed to encourage the likes of Richard Branson to adopt a mutual society model if he does acquire the business.

Wilbur Ross Sees Virgin Money On The UK High Street

Richard Branson has today announced a new high-profile partner for his Virgin Money operation with US billionaire Wilbur Ross injecting £100 million for a 20% stake in the operation. The US investment guru has also promised to invest a further £500 million into a potential offer for Royal Bank of Scotland branches.

Sir Fred Goodwin's Former Deputy Returns To RBS

Gordon Pell, the former deputy to Sir Fred Goodwin at Royal Bank of Scotland, has today returned to the group after being appointed deputy chairman of the Coutts banking subsidiary. This comes despite the fact that he left Royal Bank of Scotland with a £580,000 pension after the clearout at the top of the management chain at RBS.

Can Richard Branson Crack The UK Banking Monopoly?

As Richard Branson announces a tie-up with a well-known American billionaire, Wilbur Ross, the big question now is whether he has the power and the strategy to break the stranglehold which the major banks have held in the UK for some time. The UK government must be praying for Richard Branson to be successful in his rumoured bid for the Royal Bank of Scotland branch network which would allow him to directly attack the leading figures of the UK banking sector.

Irish Authorities Act To Quell Fears Over Banking Sector

The Irish authorities have tonight announced a plan which they believe will allow the Irish banking sector to rebase and regroup for the future. This comes after a dramatic time for the Irish banking sector which has seen a number of banks bailed out by the government and a number of controversies hit the headlines. So what is the government offering?

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