Banking

Mixed Annual Results for the Big Banks

By |2020-04-14T11:44:05+00:00February 27th, 2017|Banking|

Author Ben Leonard What do the wildly differing results reported by the big banks mean for the future of banking – and our high streets? I hesitate to spoil your Monday but I need to talk about the banks – specifically, the annual results some of the major banks reported last week. To say the [...]

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Complaints about high-cost credit see sharp rise

By |2019-10-09T08:07:04+00:00May 31st, 2018|Banking, Personal Finance|

By Mark Fairlie Concerns have been raised that lenders ‘aren’t doing enough to ensure people’s borrowing is sustainable’ in a new report from the Financial Ombudsman Service (FOS). The FOS study revealed complaints from borrowers increased 64% in the last year, with the ombudsman upholding more than six in ten new complaints made about payday [...]

Labour pledge overdraft fee and interest cap

By |2019-10-09T08:07:01+00:00May 1st, 2018|Banking, Personal Finance, Politics|

By Mark Fairlie Following shadow chancellor John McDonnell’s pledge to limit the amount levied by credit card companies on interest payments last September, the Labour Party have announced a similar policy on bank overdraft fees and interest charges if elected. According to the party’s press release, people trapped in “persistent overdrafts” will save consumers £233m [...]

Milestone Moment as Transferwise Crosses Faster Payments Threshold

By |2019-10-09T08:06:51+00:00April 25th, 2018|Banking, Personal Finance, Technology|

By Trevor Clawson London-based financial technology company, Transferwise has been admitted into the UK’s Faster Payments System, in a move described by the Bank of England as “an important milestone.” Established in 2010, Transferwise offers a range of payments services to consumers and small businesses, with a particular focus on cross-border transfers. Last week it [...]

Will Moving Towards Contactless Payments Leave Our Vulnerable Behind?

By |2019-10-09T08:06:51+00:00April 27th, 2018|Banking, Economy, Personal Finance|

17m journeys across London every week are made without cash, as we increasingly move towards contactless payments. Is the UK going the same way as countries like Sweden, where cash is all but dying out? And what does this mean for vulnerable groups like the elderly? By Mark Richards Figures came out from Transport for [...]

Two tribes: fintech versus traditional banking

By |2019-10-09T08:06:49+00:00April 17th, 2018|Banking, Personal Finance|

By Mark Fairlie Much has been made since the vote to leave the European Union about the apparent threat to Britain’s finance industry. By common agreement, London is the financial capital of the world and the sector has repeatedly expressed its worries over a potential lack of passporting rights to EU countries after the separation [...]