Bank accounts increasingly managed online

We're increasingly relying on the internet to access our bank accounts, according to a new report. Financial Fraud Action UK has revealed that the majority of internet users now bank online, underlining the need to be internet secure. Nearly all – a whopping 95 percent – of online bankers check account balances. But less than one-fifth use the service to make enquiries about their account. We can now keep a much closer eye on our finances outside of traditional banking hours, according to the organisation. And that means we need to take 'common sense steps' to minimise the risk of fraud. Fin…

Read more...

Bank charges for having no overdraft

HSBC has launched a new current account which charges £15 a month for not having an overdraft facility. The Bank Account Pay Monthly account is designed for those who regularly find themselves dropping into the red and incurring charges. It features a strict limit which, once hit, customers will not be able to breach. Anyone about to withdraw money from a cash machine that would make them overdrawn will get an on-screen warning. And customers will also get text updates when they have used 60, 80 and 95 per cent of their overdraft. It's thought to be the first of its type in the country. The …

Read more...

Bank claims go up by 54%

During the first six months of 2011, the ombudsman service received a total of 149,925 new complaints against financial businesses. This reveals an increase of 54% compared to the second half of 2010. The Financial Ombudsman Service (FOS), an institution dealing with financial problems between consumers and financial businesses, has released new figures publishing complaints data covering over the period 1 January to 30 June 2010. The data includes complaints data relating to individual financial businesses – including banks, insurance companies and investment firms. During that time, almost 1…

Read more...

Do bank deals keep you loyal?

Staying loyal could save you money as the big banks strive to become one stop shops, while fighting the growing threat of the supermarkets. It's reported Santander and Halifax have joined the likes of Nationwide in the recent trend of trying to keep current account customers happy by offering special rates on other products. Nationwide offers its FlexAccount customers rewards such as a market leading 7.6 per cent on personal loans. Halifax offers discounted mortgage rates and Santander a zero per cent credit card. Research by Sainsbury’s claims that seven in ten people would consider taking o…

Read more...

Bank details fraudster faces jail

A pizza delivery man who ran a website selling bank account and credit card details for two years faces jail. 33 year old Renukanth Subramaniam admitted setting up darkmarket.ws, which sold stolen information to around 2,000 people across the globe. Blackfriars Crown Court heard he helped criminals potentially steal more than £100 million, with the site he ran from an internet cafe in Wembley. The website was shut down after an undercover FBI operation in 2008. Subramaniam's now been remanded for sentencing and has been warned to expect a lengthy jail term. It comes after a warning by …

Read more...

Bank of England reports credit card limit increase

According to their latest Credit Conditions Survey, the Bank of England has found that credit card limits had increased at the end of 2011. The increases occurred at a time when the demand for this type of lending had declined, with other forms of money lending also experiencing a decrease. Suggested reasons for this change include the current economic crisis. The current situation surrounding the Euro-Zone is thought to have made consumers more cautious about their spending, resulting in a reduced demand for credit cards and other financial loan products. This decreased demand is expected to…

Read more...

Bank fraud on the rise

Bank account fraud in the UK rose almost 10 per cent last year, according to the latest industry figures. CIFAS, the UK's fraud prevention service, said that over 80,000 cases of bank account fraud took place in 2009, up from 73,000 the previous year. Identity fraud also increased by 32 per cent over the same period. In its 'Fraudscape' report the organisation also points out that the 9.75 per cent increase in bank account fraud almost perfectly mirrors a 9.98 per cent year-on-year decline in plastic card fraud. Another of the report's findings is that much of this fraud is taking place…

Read more...

Hot Bank Holiday Increases Staycation Bookings

The May Bank Holiday saw some early hints of summer across the UK, with temperatures reaching highs of over 21° and making Britain hotter than some parts of Europe. Prepaid cards for holidays The positive weather also saw bookings for summer staycations rise by 40% over the holiday weekend. According to holiday lettings agency HolidayCottages.co.uk, bookings for summer holidays in the UK have shot up by almost 70%. James Morris, Managing Director at the company said: “The warm weather over the Bank Holiday period seems to have been a catalyst for this booking frenzy.” It isn’t just the weathe…

Read more...

Banks Cashing in on Prepaid Cards

Banks are now beginning to cash in on prepaid cards due to debit cards becoming more popular than credit cards, with more and more Banks now offering prepaid cards to their customers as an alternative for people who suffer from bad credit. Most banks now offer a form of prepaid card; one of the most popular products they offer is a travel money card. Barclays and Lloyds TSB both offer a travel money card, with Barclays now advertising their card more aggressively on the internet. Secure Trust Bank have been in the banking industry for over 50 years, and recently launched a prepaid card…

Read more...

Banks need to rebuild trust

Consumers say banks need to listen more to their customers, if they're to rebuild trust in the banking sector. That's according to the latest research from consumer champion Which? It follows the financial crisis, and the controversy surrounding bankers bonuses. More than eight out of ten people also want the government to take into account the views of both the banks and the public when looking at how to reform the industry. Chief executive of Which?, Peter Vicary-Smith, says ordinary people are still feeling the repercussions of the financial crisis... but their voice has so far been…

Read more...

Barclaycard Freedom for Summer Spending

A new credit card offer is being launched for the Barclaycard Freedom, which aims to provide families with 10 percent reward money on their summer spending. The loyalty scheme from Barclaycard aims to help families out during the long summer holidays where spending can be quite a strain on purse strings, especially when the cost of living is already a struggle. Between Thursday 7th to Sunday 10th July shoppers will be able to take advantage of the unique offer and earn 10 percent Reward Money on all purchases nationwide. The offer enables consumers to earn 10 percent on everything from petrol…

Read more...

Newsletter

Receive updates direct
to your inbox..

Copyright 2017 :: Compare Prepaid :: All Rights Reserved 27D Bruce Street, Dunfermline, Fife KY12 7AG. +44 (0) 843 886 9544 - Email Us