Santander’s high street banks have launched a range of new fixed-rate bonds paying interest at up to 4.1%. The bonds, available through Abbey, Bradford & Bingley, and Alliance & Leicester, can be opened by new and existing customers with a minimum deposit of £1. The one year bond pays interest at 2.5% gross per annum/AER [...]
Mortgage borrowers with Santander will soon be able to take advantage of a bank current account that attaches no fees to overdrafts, whether authorised or unauthorised. The Spanish banking giant is launching a “Zero” current account on 11th January 2010 to coincide with its rebranding of Abbey, Bradford & Bingley and Alliance & Leicester to [...]
Santander is attempting to lure new customers into opening a premium current account with an introductory special offer. New customers opening a Premier 50 Current Account at Alliance & Leicester or a Reward Bank Account at Abbey will pay account fees of just £5 per month for the first three months. After this introductory period, [...]
Alliance & Leicester customers are being offered free software to protect them from internet fraudsters. The Santander-owned bank said the Rapport software is designed to protect customers from phishing attacks and malware. Rapport makes sure sensitive information entered into websites, such as passwords and User IDs, is protected from hackers seeking to gain valuable personal [...]
Santander-owned Abbey, Alliance & Leicester, and Bradford & Bingley have launched a new two-year fixed-rate bond paying interest at 4% gross/AER. The bond is available to new and existing customers, and requires a minimum investment of £10,000. Customers opening the account can choose to have interest paid when the account matures, or monthly with a [...]
Bradford & Bingley (B&B) has launched a new online Notice Saver account paying interest at a variable rate of 3.3% gross/AER. New and existing B&B customers can open the account with a minimum balance of just £1. The account includes an instant access option for savers who need to withdraw their money. Account holders can [...]
Bradford & Bingley has launched a new two-year fixed-rate bond paying 4.35% interest. The bond requires a minimum deposit of £10,000, and no withdrawals are permitted during the life of the bond. Savers looking to take advantage of the bond must have internet access as it is only available online. Reza Attar-Zadeh, director of savings [...]
Abbey and Alliance & Leicester (A&L) are offering new customers a £100 incentive to switch to their current accounts. The Santander-owned banks are offering the bonus to new customers opening an Abbey Preferred Overdraft Rate account or an A&L Premier Account from today. To receive the cash bonus, customers must fund the account with a [...]
Santander plans to discontinue the 6% current account at its UK banks. The 6% + 6% offer, which pays new Abbey and Alliance & Leicester customers 6% interest on their current account and on monthly savings, will close later this week. Savers taking maximum advantage of the offer could earn nearly £250 interest in the [...]
Abbey, Alliance & Leicester, and Bradford & Bingley have announced the launch of a new two-year fixed-rate bond paying interest at 4.2%. Savers can open the bond with an investment of between £10,000 and £2 million. Any withdrawals incur a penalty of 120 days interest. The bonds can be opened by visiting any branch of [...]
Millions of Brits have made drastic cuts to their holiday budget this summer, new research has discovered. Santander Cards found that a quarter of Brits taking a well-earned break in the sun this year plan to reduce holiday spending. Eating out is the biggest target of cutbacks, with 54% of those reducing their budget planning [...]
Abbey Business this week launched two new bonds paying up to 3.2% interest and aimed at SMEs. The bonds, available to businesses with a turnover of up to £1 million, are available for business savings between £50,000 and £2 million. The 12 month Fixed Rate Business Bond pays 3.2% gross pa/AER, maturing on 1 September [...]
Santander’s UK banks are offering interest rates of up to 6% on monthly savings accounts and current accounts. Abbey’s Super Fixed Rate Monthly Saver and Alliance & Leicester’s (A&L) Premier Regular Saver are both paying the headline rate to savers who invest a fixed amount between £20 and £250 per month. However, there’s a catch. [...]
Abbey and Alliance & Leicester (A&L) are together claiming to be the UK’s second-biggest mortgage lenders, behind HBOS. Both banks belong to Spanish group, Santander, which reported its half-year results this week. The figures reveal that Abbey and A&L were responsible for 16.3% of the UK’s gross mortgage lending during the six months to the [...]
The commercial banking wings of Abbey and Alliance & Leicester were yesterday renamed under the Santander brand. Santander-owned Abbey UK Corporate Banking and Alliance & Leicester Commercial Bank were rebranded Santander Corporate Banking. A total of 20 regional corporate banking centres will undergo the name change this year, including centres in Birmingham, Cardiff, Glasgow, Hull, [...]
Abbey is paying a 6% interest rate to its premium current account holders. The Santander-owned bank is offering the rate on balances up to £2,500 to customers opening the new Abbey Reward Account. To benefit from the headline rate, customers must deposit at least £1,000 per month into the account. Other benefits of the £10-per-month [...]
Abbey credit cards will be rebranded under the name of Santander, Abbey’s parent company, from next week. The rebrand follows last month’s announcement that the UK’s three Santander-owned banks, Abbey, Bradford & Bingley, and Alliance & Leicester, will next year merge into a single bank and adopt the Santander global brand and name. All new [...]
Cater Allen has launched a series of new fixed-rate bonds paying interest at up to 5.25%. The Santander-owned private bank said the bonds offer security of capital and a fixed, guaranteed return. Bonds offered by the bank include a three-year escalator bond, a two-year bond, a 12-month bond, and a nine-month bond. The three year [...]
In a move which will cost £12 million, Santander is to re-name its UK High Street banks: Abbey, Alliance & Leicester (A&L) and Bradford & Bingley (B&B). According to Santander, the move is aimed at saving £180 million from integrating the three banks. The move would also allow the UK business to use the “expertise [...]
Alliance & Leicester (A&L) has launched a new nine-month fixed-rate bond aimed at small and medium sized businesses. The Business Bond pays interest at 2.81% AER (2.80% gross), and matures on 1 March 2010. SMEs with savings between £50,000 and £2 million can open the bond online, on the telephone, or in branch. The bond [...]
Phone fraudsters stealing bank card pins
Fraudsters using a phone scam to trick bank card holders into revealing their pin numbers stole £750,000 in the first four months of this year. This is the same amount stolen through this scam in the whole of last year. The fraudster telephones a bank customer, often someone elderly or vulnerable, telling them that their [...]
FSA rules out ban on interest-only mortgages
Speculation that the Financial Services Authority would ban interest-only mortgages as part of its Mortgage Market Review has proved to be unfounded. However, lenders will be required to monitor the performance of the investment product taken out by the customer to repay the mortgage at the end of its term. Investments are performing poorly because [...]
Bank of England may end free in-credit banking
A director of the Bank of England has warned that official intervention could be considered to end the ‘dangerous myth of free in-credit banking’. Andrew Bailey has already spoken out against free banking in relation to the mis-selling of financial products. In a speech made available to media, he reiterated his concern, saying that it [...]
Bank of England votes against more economic stimulus
The Bank of England voted against a further round of quantitative easing, at its latest Monetary Policy Committee (MPC) meeting. Just one member, David Miles, voted for further asset purchase to encourage growth in the UK economy, while the other eight members voted to keep the Bank’s quantitative easing programme steady at £325bn. The minutes [...]
Catalogue debt growing says helpline
Calls from people concerned about their debts with mail order catalogues accounted for more than 12 per cent of all calls received by National Debtline last year, compared with just 8 per cent in 2007. More people were concerned about catalogue debt than about payday loans, mortgage or rent, according to the Money Advice Trust [...]
Homeserve faces mis-selling investigation
HomeServe, which provides emergency insurance cover and domestic repairs to households in the UK, is to be investigated by the Financial Services Authority (FSA). Issues over the possible mis-selling of household emergency policies were uncovered last October during an internal review at the Walsall-based company. Homeserve’s call centre staff were found to be selling ‘Complete [...]
OFT warns Wonga over debt collection methods
Payday loan company Wonga used aggressive and misleading methods to collect debts from customers, the Office of Fair Trading (OFT) has found. Wonga sent letter and emails to certain customers suggesting they had committed fraud and threatening to report them to the police if they did not act in the way Wonga suggested. The company [...]
NS&I re-launches investment account
National Savings & Investments (NS&I) has re-launched its Investment Account at a higher interest rate than it previously offered. The account now offers 0.75 per cent before tax, compared with between 0.2 and 0.3 per cent previously, depending on the account balance. Deposits and withdrawals on the account can no longer be made at Post [...]
Rightmove reports property downsizing trend
Two in five property owners planning to sell in the next year are planning to ‘trade down’, compared with one in four who plan to ‘trade up’. A survey by property website Rightmove found that moving to a smaller home is the main reason for moving in nine out of the ten regions in the [...]
More people failing to save for retirement
The proportion of people with no pension savings has grown from 20 per cent to 22 per cent over the past year, according to Scottish Widows’ latest survey. The pension provider surveyed 5,200 adults in the UK, aged 30 or over, and earning at least £10,000 a year, for its annual review of pensions. Ian [...]
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