High street banks slammed by consumer group
Current accounts from the big high street banks, Barclays, HSBC, Lloyds TSB and NatWest, have been criticised in a study by consumer group Which? The study alleged that both borrowers and savers with the 'Big Four' are getting a bad deal, with poor interest rates and customer service that is below the standard of some smaller competitors. Martyn Hocking, editor of Which? Money, said: "Some of the biggest banks on the high street get poor ratings while new providers get great reviews. "If you're still with one of the big four high street banks, now's the time to move. "Internet and telephone banks seem to treat their customers better and you can get much higher interest too."Smile, the Internet bank owned by the Co- op, was the best performer for customer satisfaction. Nationwide's Flex Account and Alliance & Leicester's Premier Direct accounts were also praised. The survey found that the big banks still have the bulk of customers (61 per cent) even though they did not offer the best service or value for money. Which? encouraged customers to change their account if they did not feel they were getting the best deal, saying that the process was easy and not to be feared.
Share this..
Related stories
The Christmas shopping postcode lottery
An investigation by the Daily Mail has found potential evidence of a Christmas shopping postcode lottery whereby some items can cost as much as double in certain areas of the UK. One particular example given was the autobiography of singer Cheryl Cole which is said to cost £9.99 in WH Smith London stores, almost double the cost of the same item in the company's Glasgow store. While these claims a...
Read MoreBritish Chambers of Commerce improves forecast for UK economy
The British Chambers of Commerce has today released a revised forecast for the UK economy with a suggestion it will grow by 1.1% in 2010 which is almost double the former forecast of 0.6% growth for 2010. This near doubling of the expected growth has occurred in just three months which would leave many people to assume that the UK recovery is well and truly underway and well underpinned?
Manchester United owners in no rush to pay off debts
Despite the fact that the interest rates on a portion of the Manchester United debt could increase to 16.25% from August 2010 there are no plans for the Glazer family to pay off the company's debt. This has been confirmed by the company over the last few days to the dismay of many Manchester United fans who believe that the debts should be repaid as soon as possible. So what is going on within Man...
Read MoreLondon hedge funds call for change in European Law
London hedge funds are today campaigning against the European Union's Alternative Investment Fund Managers Directive which they believe could lead to thousands of job losses in the City of London. Since being introduced some months ago the Alternative Investment Fund Managers Directive has undergone a record 1,200 amendments which it is believed will impact enormously upon the UK financial sector....
Read MoreHouse prices down 0.9%
UK house prices are now almost one per cent less than they were a year ago, following a seventh consecutive monthly decline.Data from house price information group Hometrack shows that the average price of a home in England and Wales fell by 0.6 per cent during April. This brought the average value of a home to £173,100 - 0.9 per cent less than it would have been worth in April 2007.Further evide...
Read More