The Financial Ombudsman Service says that that the number of credit card-related requests it received in 2011 went up by 10 per cent, it was recently reported.
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No-transfer cash ISAs growing more common place
Savers looking for the best tax-free savings accounts have had a spanner thrown into the works as more banks and building societies bar transfers in to new cash ISAs over the past few years, industry experts say.
Overdraft charges creep to highest recorded level ever
While the Bank of England’s base rate has been kept at its ultra-low rate for over three years now, the overdraft fees charged by banks and building societies have crept upwards to their highest recorded level ever, according to the Bank’s recently released figures.
Nationwide locks out lower income earners from best buy ISA
The largest building society in the UK has been faced with withering criticism for locking out lower income earners from its best buy 4.25 per cent ISA, even when they’ve been loyal savers for years or even decades.
Average instant access savings rate at three-year high
Recently conducted research has found that the interest rate on the average instant access savings account has reached its highest level in more than three years – provided that savers are willing to switch accounts regularly to secure the best rates.
Building society bosses win big, leave customers out in cold
While building society customers have been left out in the cold with a one-two punch of interest rates, with rates on mortgages going up and those on savings accounts dropping to the ground, mutual bosses have been rewarding themselves with large bonuses for “good performance” in 2011.
30% of firms say they regularly reach overdraft limit
Three out of every ten companies recently revealed that they reach their overdraft limit on a regular basis, leading industry experts to highlight rising indications of financial distress among UK businesses.
Switch your current account if you’re unhappy, experts say
If you’re unhappy with the current account you’ve got at the moment, don’t simply leave your money to languish there, as experts say that you should switch providers if you feel the need.
Inflation rumoured to stay above 3% for rest of 2012
Rumour has it that the nation’s inflation rate is going to persist in staying above 3 per cent for the remainder of 2012 – news that has made savers gnash their teeth and rend their garments in frustration.
36 credit card fraud sites shut down, officials say
The Serious Organised Crime Agency recently reported it was involved in a global law enforcement operation in which 36 credit card fraud sites were shut down following an exhaustive two year investigation.
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