When did you last change your bank account?
Despite the fact that the UK banking sector is one of the most competitive in the world it would appear that very few people in the UK would actively consider changing their banking arrangements to take advantage of better deals elsewhere. Surveys have shown that the vast majority of people in the UK are very happy to remain with one bank for their whole of their working life despite the fact they could be losing out on offers and deals. So why is there a reluctance to change your bank account?
The simple fact is that many people believe that changing a bank account is very complicated and will impact upon various direct debits and standing orders which they may have in place. The truth is that many banks will take it upon themselves to rearrange your standing orders and your direct debits so effectively you are highly likely to see a seamless transfer from one banking operation to another.
In reality the best deals and best offers will be available from different banking institutions at different times. However, finding one which suits you and a bank which stays relatively competitive should be enough to save you significant money on loan interest and potentially earn you more money on savings deposits.
UK government set to loan Iceland £3 billion!
In a move which is sure to grab the headlines for all of the wrong reasons it has been announced that the UK government is on the verge of forwarding a £3 billion loan to Iceland in order to ensure that UK savers who lost money in the collapse are reimbursed. How perverse that the very people who are being reimbursed are the ones who are paying for the compensation scheme - what has it all come...Read More
Webchat Thursday 2pm: Student Finances with Alvin Hall
FinancialAdvice.co.uk is proud to present a live webchat with Alvin Hall this Thursday at 2pm. The webchat will take place here: www.financialadvice.co.uk/webchat.html. Alvin will be offering his expert advice to parents concerned about keeping their children's university budgets in the black.
The new university term really...
Coventry building society in merger talks with smaller competitor
The Coventry building society has today confirmed talks are progressing with the Stroud and Swindon building society to create a group which would have around £20 billion in assets. While talks are at a very early stage it is believed that the Coventry building society, with 1.2 million members and 48 branches, and the Stroud and Swindon building society, with 265,000 members and 43 outlets, are...Read More
Gordon Brown steps up to help HBOS
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Is It Safe To Use Overseas Banks?
As investors and savers look to squeeze the last penny of profit out of their assets it seems as though many in the UK are looking towards the Iceland banking community with 300,000 British residents holding accounts with banks based in the country. While there have been no problems yet there are fears that the smaller banking community of country might not be able to cope with a run similar to t...Read More