News Tag: customers
March 8, 2010
Virgin Money, which is set to launch as a retail bank later this year, has announced it will charge a monthly fee for current account customers.
However, the company said the fees will be low and will replace high overdraft charges.
Sir Richard Branson’s Virgin Money recently acquired regional bank Church House Trust.
Virgin Money, which was unsuccessful in ...
Virgin Money to become first bank to charge upfront fees
by Kay Murchie
February 24, 2010
Leeds-based independent financial advice company, Park Row Associates, has failed to give suitable advice, according to the Financial Services Authority (FSA) and has therefore been ordered to pay compensation to customers.
The City Watchdog has established that customers of Park Row Associates were at risk of receiving unsuitable advice about all of its financial products.
Customers who bought products through ...
Park Row told to repay millions by FSA
by Kay Murchie
November 25, 2009
The ongoing legal battle between seven high street banks and one building society could reach a conclusion today.
The Supreme Court will decide whether the Office of Fair Trading (OFT) has the power to assess whether or not bank charges are fair.
The case, which has been ongoing for more than two years, could see banks refund millions of pounds ...
Unfair bank charges - Supreme Court to decide today
by Kay Murchie
November 10, 2009
Abbey and Alliance & Leicester are offering preferential mortgage rates to some existing customers.
The lenders, both part of the Santander group, are enticing current account holders who have been with the banks for six months or more with new deals available in branch or on the telephone.
The range includes fee-free tracker and fixed-rate home loans, plus an offset mortgage, ...
Special mortgage rates for Abbey current account holders
by Gill Montia
September 10, 2009
Supermarket giant, Morrisons, has announced a 22% rise underlying pre-tax profits to £359 million in the six months to August 2, up from £259 million last year.
The UK's fourth largest supermarket chain said it is benefiting during the economic downturn as new customers are attracted by its prices.
According to the chain, it has attracted more than one million new customers ...
Morrisons market share rises, profits up
by Kay Murchie
August 6, 2009
During the second quarter of the year, cable giant Virgin Media lost 27,000 customers, research has unveiled.
However, the majority of these customers were low-value buyers of prepaid mobile services and commodity broadband.
The company also highlighted that it had pushed the average customer’s spend to a record high with the average revenue per user rising from £41.68 to £43.27 a ...
Virgin loses almost 10,000 customers a month
by Kay Murchie
August 3, 2009
Savers looking to stash away their cash at Tesco can secure themselves up to £15 of vouchers.
Consumers opening a Tesco Instant Access Savings Account this month will be rewarded with up to 1,500 Clubcard points, equivalent to £15 of in-store vouchers, the supermarket bank said.
Accounts with a balance of at least £1 on 7 October will earn 250 points, ...
Tesco gives away Clubcard points with savings account
by David Masters
July 6, 2009
Northern Rock is once again offering mortgages to existing customers.
The move follows a gap of well over a year during which period borrowers coming off fixed deals either reverted to the Rock's standard variable rate or were forced to go elsewhere.
The nationalised lender is strictly interested in retaining its best customers and only those with at least 25% equity in ...
Northern Rock offers mortgages to existing customers
by Gill Montia
June 28, 2009
The Which? Awards, which names 'the best of the best' in products and services, has named the Co-operative Bank as the Best Financial Services Provider.
The bank has been performing well amid the recession and its customer numbers have increased significantly in recent years because of its ethical investment policy.
Since 1992, the bank’s commercial lending has grown from £571 million ...
Which? names Co-operative Bank Best Financial Services Provider
by Kay Murchie
June 11, 2009
It is understood that the West Bromwich Building Society is to be rescued within days after weeks of speculation about its future.
However, savers and mortgage borrowers have been assured that it’s business as usual since the rescue will not affect customers.
There were talks last month that the country's eighth largest building society was in rescue talks after it was reported that ...
West Bromwich BS in rescue plan
by Kay Murchie
April 30, 2009
BSkyB has reported a 7 percent increase in adjusted revenues for the last 9 months with adjusted operating profit increasing by 13 percent to £589m, as the company added a further 80,000 new customers in the first quarter of this year and 243,000 customers opted for the Sky+HD package.
Despite the company saying that the developments are in line with forecasts, ...
BSkyB bucks downturn with introduction of HD
by Peter Charalambous
November 30, 2008
The Financial Services Authority (FSA) is threatening to fine banks and building societies that are heavy handed with homeowners who fall into arrears with mortgage repayments.
The regulator has written to the chief executives of mortgage lenders, giving them until 31st January to review their policies.
The FSA's managing director of retail, Jon Pain, explains that conditions in the UK mortgage market ...
Unfair lenders face FSA wrath
by Gill Montia
November 13, 2008
Rightmove has been experiencing a sharp downturn in the number of estate agents advertising on its website.
The company, which operates the UK’s largest property portal and claims to advertise around 90% of British homes for sale, has reported that up to 300 estate agents are terminating their agreements each month.
This time last year the firm had 12,600 estate agency ...
Rightmove loses 300 estate agencies per month
by Gill Montia
September 24, 2008
Thousands of customers have been lining up to withdraw their savings from the Bank of East Asia after rumours spread that the bank is facing financial collapse, an allegation which the bank has fiercely denied.
The police have been informed and are investigating after the bank said the rumours were malicious and untruthful and were believed to have ...
Customers queue to withdraw savings from Bank of East Asia
by Kay Murchie
August 5, 2008
As the housing market downturn continues, Northern Rock customers are more likely to be facing negative equity than borrowers with other UK lenders.
While the number of people in arrears with their mortgage repayments is rising across the banking sector, Northern Rock is more exposed than most of its competitors because prior to the credit crisis, it offered home ...
Negative equity haunts one in five Northern Rock borrowers
by Gill Montia
May 30, 2008
An internal memo at Northern Rock has unveiled that the crisis-torn bank is expecting to see a vast increase in the amount of customers struggling to pay off their mortgage over the next 12 months.
As a result, the bank is proposing to more than double the number of people who work in its debt management arm from 176 to 444. ...
Mortgage fears grow at Northern Rock
by Kay Murchie
