Santander confirms Royal Bank of Scotland branch offer
Spanish giant Santander has today confirmed a potential £1.8 billion for the 318 Royal Bank of Scotland branches which are up for auction. It is believed that Santander is the only firm bidder for the branches despite the fact that a number of parties came forward when the auction process began. The branches are being sold because of an EU ruling in relation to state aid for Royal Bank of Scotland when the company was on the verge of collapse.
Santander has been picking up UK assets for some time now having bought Abbey, Alliance & Leicester and the savings arm of Bradford & Bingley. If the Royal Bank of Scotland offer is successful, as seems likely, the company will have a 14% share of the UK mortgage market and 10% share of the retail savings market. In many ways Santander has been ahead of the game having changed a number of well-known UK brands to the "Santander" brand thereby escaping some of the growing consumer disdain aimed at the UK banking arena.
Many people expect further consolidation in the UK banking sector with the potential for retail banking and investment banking arms to be separated at companies such as Barclays bank.
Lloyds Bank Hits Student With £800 Charges For 8p Overdraft!
It seems as though Lloyds Bank cannot keep out of the headlines at the moment, but for all of the wrong reason!
Today sees a claim that the bank has been chasing a student who went 8p overdrawn, charging her £300 in fees to date with a further £500 still to be cleared. The saga began when Laura Gibson made a purchase of around £60 forgetting that this would take her slightly int...
Is Virgin Money out of the running in the RBS branch sale?
Unofficial sources have claimed that Virgin Money has been dropped from the final three bidders in the ongoing Royal Bank of Scotland branch sale. It is believed that Santander, BBVA and National Australia Bank are the three remaining companies in the running with Virgin Money apparently dropping out due to the level of the company's bid. This would be a bitter blow for Richard Branson and the...Read More
Online security is simple yet essential
As more and more people join the online community, monitoring their financial assets on a regular basis, there are concerns regarding online security. The vast majority of people are known to use the same username and password for a variety of their online services and very few people seem to change their password on a regular basis. Do you fall into this particular group?
Contactless payments treble
06/02/2015 The number of UK debit card holders using contactless technology to make payments has more than tripled in a year, according to data from the UK card association. During 2014, people using contactless technology spent a total of £2.32 billion via contactless payments. This is compared to £653 million spent in 2013. One of the most popular places to use contactless technolog...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.