The table below highlights why the FCA today announced that it wants to abolish fixed fee overdrafts – you can see how much of an income generator it is for some of the big banks.
The Financial Conduct Authority has today announced some wide ranging proposals to overhaul the overdraft market. The key changes it is looking for are: Ensuring the price for each overdraft will be a simple, single interest rate – no fixed daily or monthly charges. Tackling Read More
The latest quarterly current account switching figures from BACS were released this morning, covering the 3 months to the end of June 2018. As expected customers voted with their feet on the back of the TSB IT meltdown with the bank losing a net 16,641 Read More
With A-Level results due to be published on 16th August many students and their parents will be trying to seek out the best bank account to help them manage their money whilst away at college. For many cash strapped students the account offering the largest Read More
Following today’s FCA announcement that the way the banks operate and charge for overdrafts needs fundamental reform, Andrew Hagger of Moneycomms looks at how some customers with the big banks are paying way over the odds for agreed overdrafts. An overhaul of bank overdrafts is Read More