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Bank Accounts News

Listing 556 articles over 56 pages

Contactless Payments Treble

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.

Tesco Bank Customers Unable To Access Accounts

Tesco’s online banking service has been hit by a computer fault, leaving thousands of customers unable to access their bank accounts.

Free Bank Accounts To €disappear Within A Decade’

A report from PricewaterhouseCoopers (PwC) has suggested that paid-for bank accounts will be the only option for consumers within the next decade, as they replace “unsustainable” free banking. The report predicts that customers who do not wish to pay a monthly charge for their account will see restrictions to their account introduced, such as limited withdrawals or a block on using branches, and this would eventually lead to them being forced out of free banking.

FCA To Change Savings Account Market

The Financial Conduct Authority has found that competition in savings accounts does not work out well for customers, particularly those with long-standing accounts.

Young People More Likely To Be Victims Of Fraud

The British Bankers Association (BBA) has claimed that people under the age of 25 are more vulnerable to money transfer scams than any other age group.

Treasury Plans Fee Free Bank Account

The Treasury has announced plans to launch a new fee-free bank account on the high street. Nine lenders in the country will offer these bank accounts to millions of customers who have been locked out of the banking system due to bad credit.

Barclays Extends Smartphone Cheque Scheme

One million more people will be invited to take part in a scheme, which allows people to pay a cheque into their bank account by taking a photo of it on their smart phone.

Telephone Scams See Massive Increase

The amount of money fraudsters have gained by using telephone scams has risen to £23.9 million, three times as much as it was last year.

RBS Face Further IT Problems After £56m Fine

Royal Bank of Scotland customers have had problems using credit and debit cards in shops and at cash machines over the weekend. Some customers of Royal Bank of Scotland and its subsidiaries, Natwest and Ulster Bank were affected, and were unable to use debit and credit cards.

RBS Fined £56m For IT Meltdown

Royal Bank of Scotland has been fined £56 million for a collapse in its consumer systems that left thousands of customers unable to access their bank accounts. The Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) collectively fined the bank for the software issue from June 2012, which affected more than 6.5 million customers in the UK over several weeks.

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