June 2012 Archive

NatWest: How to claim compensation and repair your credit rating

RBS and NatWest customers may need to make compensation claims

Our guide shows you how to claim compensation and repair your credit rating if you are a NatWest or RBS customer who has been affected by the technical problems.

Coventry BS launches short term savings bond paying 3.65%

Coventry BS has launched two new savings products

Coventry Building Society has launched two new savings products. It's telephone saver accounts offers 3.25 per cent and their short term savings bond pays 3.65 per cent.

Clydesdale and Yorkshire Banks to launch children’s savers

New savings account for children unveiled

Clydesdale and Yorkshire Banks are to release two new savings accounts for children. The Headstart and Jumpstart Savers will be available from Monday July 2.

7m Brits have lost track of their savings

Millions of Brits have mislaid their savings

One in six UK adults – around 7.7 million people – have lost track of their investments and savings accounts, new research shows.

RBS considers lawsuit against CA Technologies over NatWest errors

RBS is considering taking legal actions against the suppliers of the software that caused a severe error

RBS is considering whether to enter into litigation against the supplier of the software that caused the technical errors affecting millions of NatWest customers.

Pocket Money: The foundation of financial literacy

Leaning about money at an early age gives children vital life skills

This week is My Money Week in schools and Dr. James Lane the Director of Education at Pora Ora, explains how pocket money can help children learn vital lessons about money.

N&P unveils new savings account paying 2.35%

New savings account can be opened with £1

Norwich & Peterborough Building Society (N&P) has launched a savings account offering a return of 2.35 per cent gross/ AER.

NatWest software error repeated twice to compound problems

NatWest's technical problems continue into a 7th day

Reports suggest that the initial error that caused the IT glitch last Tuesday evening was repeated on both Wednesday and Thursday to compound the problems.

NatWest: Credit ratings won't be affected by technical error

NatWest will work with other banks to ensure credit ratings are not affected by the technical errors.

NatWest has pledged to work with other banks to ensure customers credit ratings are not affected by the technical errors caused by a failure in a software update.

Stephen Hester issues RBS apology as Natwest problems continue

Stephen Hester, chief executive of RBS has apologised to NatWest customers

The chief executive of NatWest's owners, the Royal Bank of Scotland, Stephen Hester, has issued an apology to customers affected by technical problems.

Severn Trent launches inflation-proof RPI-linked savings bond

Water company unveils inflation linked bond

Severn Trent has launched a Retail Prices Index linked bond, making it the UK first water company to offer retail investors an inflation-beating investment product.

Natwest technical errors fixed but backlog of errors remains

Copyright - Jonathan Mitchell: A NatWest cashpoint informing customers of the technical glitch affecting bank accounts

Natwest says that it has fixed the technical fault that affected paments in and out of thousand's of customers account and that it is working "round the clock" to clear the backlog.

Natwest tech problems won't be resolved until at least Monday

Natwest customers have criticised the slow response from the bank over technical problems

The technical problems at Natwest will not be resolved until at least Monday leaving thousands of frustrated customers unable to access funds for the weekend.

Last chance to open Leeds BS Diamond Saver paying 2.65%

Savers looking to open an instant access Diamond Saver at Leeds Building Society only have a week left to sign up for an account.

Moody's downgrades credit ratings of 15 major banks

Moody's is expected to downgrade the credit rating on several UK banks later today

Moody's has downgraded the credit rating of 15 major global banks including several UK banks potentially driving up the cost of borrowing for UK customers.

Natwest confirm 'no customers will be permanently out of pocket'

Natwest has confirmed that "no customers will be permanently out of pocket" after today's problems

The Royal Bank of Scotland has confirmed that no customers will be "permanently out of pocket" as a result of the technical problems that affected mainly Natwest customers today.

Furious Natwest customers bombard Twitter with complaints

Natwest customers are facing technical problems

Technical problems at Natwest mean some customers cannot make or receive payments or access their online banking services.

£1 million is losing iconic status as inflation takes its toll

The type of home you can buy with £1 million has changed in the past two decades

£1 million used to be the benchmark for a luxurious lifestyle but as the value of money has changed over the years so has the type of lifestyle £1 million can fund.

UK CPI inflation falls to 2.8 per cent

Lower oil prices are expected to have pushed inflation down

Official data just out shows that the consumer prices index (CPI) measure of inflation fell to 2.8 per cent in May, helped by lower oil prices.

Leeds BS launches one year fixed rate ISA at 3.15%

Leeds Building Society has unveiled a new one year fixed rate cash ISA, paying savers a return of 3.15 per cent gross p.a./ AER.

Savers losing £18bn a year because of low interest rates

Low base rate impacting on Brits' savings

UK savers are losing a whopping £18 billion a year because of the paltry returns being offered on savings accounts, ISAs and current accounts, a new report shows.

Governor King performs u-turn and instructs banks to lend

Sir Mervyn King is to instruct UK banks to lend some of their cash reserves

Sir Mervyn King has performed a u-turn and instructed banks to lend the billions he had instructed them to hoard in a bid to kick-start the economy.

How will the government implement the ICB banking reforms?

The government has outlined in a white paper how it will implement the ICB's proposals

The author of the Independent Commission on Banking, Sir John Vickers, warns the government not to dilute the original proposals in their white paper.

Co-op push up fixed term savings rates by up to 0.7%

The Co-operative Bank has announced a rise in fixed term savings rates

The Co-operative Bank has announced an increase in rates attached to its fixed term savings products of up to 0.7 per cent.

Bank of England signal change in policy stance on bank liquidity

The Bank of England could amend its liquidity policy

A speech by Deputy Governor, Paul Tucker hints at a shift in the bank's stance on liquidity to combat business and household difficulties in accessing borrowing.

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