Sustained recovery of UK banks still uncertain

A recent report has claimed that whilst the banking and financial industries have seen some level of recovery since the end of the recession there is still a long way to go. In fact, industry experts have said that the sustained recovery of the UK’s banking industry is far from certain.
Ratings agency Standard & Poor’s [...]

Calls for bank to lend more following huge profits

It was announced by the Lloyds Banking Group recently that it had made £1.6 billion in profits in the first half of this year, showing how things had turned around since a year ago when the bank made losses of £4 billion in the same period. Lloyds was one of a number of banks that [...]

Low base rate having dangerous side effects

It has been claimed recently that the ultra-low base interest rate in the UK is resulting in dangerous side effects that will make it necessary to increase the base rate sooner rather than later. The base rate has been at just 0.5 percent since March of last year, and this is the lowest it has [...]

Current account overdraft fees to be cut by Lloyds TSB

High Street banking giant Lloyds TSB has announced recently that it will be reducing the overdraft charges on its current accounts later this year following demand from customers. The reduced overdraft fees will come into effect from 2nd December this year, and will affect both daily and monthly fees.
Customers who go over their overdraft limits [...]

Banking system branded unfair and confusing

A consumer campaign group in the UK has branded a payment system used by the UK banking industry as confusing and unfair. The system has been designed to make transactions quicker and easier, but according to officials from the consumer campaign group Which? the system is actually unfair and confusing.
The Faster Payments Scheme that is [...]

Bank of England indicates interest rates will remain low

Since March of 2009 the base interest rate in the UK has stood at its lowest level in the history of the Bank of England, which spans over three centuries, and earlier this month the central bank announced that the base rate would remain at its record low of just 0.5 percent.
Whilst this low rate [...]

Base rate kept on hold

The base interest rate in the UK has been kept on hold at its all time low of just 0.5 percent. This is despite the fact that the recent general election resulted in a hung parliament. The base rate has been at 0.5 percent since March of last year, with this rate being the lowest [...]

Banks need to be aware of stress caused by financial matters

One financial industry expert has stated that banks need to be more aware of the stress that financial management can cause to consumers. The comments come after a survey showed that banking was towards the bottom of the list when it came to industries offering good levels of customer service, with many consumers feeling that [...]

Customer service from UK banks is poor

The results of recent research have indicated that many consumers in the UK feel that the level of customer service seen at banks in the UK is poor. The research was carried out by moneysupermarket.com as part of its new annual industry service rankings, and showed that banks were performing very poorly in the opinion [...]

Lib Dems to encourage lending from banks

The Liberal Democrats have been encouraging banks to start lending to businesses again whilst continuing with their election campaign in Scotland. The party has called on banks to start lending to successful businesses, stating that the banking industry is failing to meet lending targets despite the fact that so many banks are now partly state [...]

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