A recent study conducted by consumer champion Which? revealed that banking customers would rather have their payments rejected than have their accounts go overdrawn. Nearly half of the account holders surveyed reported that they would prefer banks to block payments that would put their accounts into the red, rather than have the payments honoured and [...]
December 5th, 2009 | Clare | 1 comment | ContinuedAll Posts Tagged With: "Bank Charges"
Complaints Against Financial Institutions Soar
Financial firms are not providing the level of customer service necessary to succeed or keep customers in the tough economy. Phil Jones, campaigner on personal finance for Which? indicated that the finance industry needs to go through dramatic changes for the future.
Jones said that the number of unhappy customers is a “poor reflection” on the [...]
Getting Holiday Cash Without Paying a Fortune
Where to get it
Don’t be taken in by the 0% commission and no handling fee advertised by bureau de change, it may be intended to distract you from a very poor exchange rate. In actual fact most foreign currency suppliers will offer you 0% commission anyway, so base your decision on the rate of exchange. [...]
Unfair Bank Charges
Banks have traditionally levied heavy financial penalties on consumers who exceed their overdraft limits or have insufficient funds to honour cheques or direct debit payments. In April 2007, the OFT launched an investigation into whether these charges were fair and legal in terms of reflecting the true administrative cost to the bank. This was followed [...]
July 7th, 2008 | Catriona | 0 comments | Continued
Instant Bank Transfers
Well nearly, from next week you will be able to tranfer money between bank accounts using a new system. Transfers will be nearly live taking up to two hours, which is a massive improvement over the two to three days that it currently takes. According to the OFT the banks made £30 million [...]
May 26th, 2008 | Tony | 0 comments | Continued
