The writing is definitely on the wall for some banks after the new current account switching rules have gone into effect, and the common scrawled word is loser.
Personal and business bank account providers do their best to keep their customers on their toes – even as some make their offerings better, others get worse.
The mass exodus from High Street banks has begun, and the nation’s mutuals and building societies are benefiting – but possible disaster looms on the horizon.
In one fell swoop, the Government has managed to both help countless banking customers whilst also alienating them at the same time – a remarkable feat indeed.
It’s more of the same this week in the banking arena, with reports emerging that even as some providers expand their offerings others use underhanded tactics.
The news has been all current accounts all the time this week, as it came to light that Lloyds TSB will start selling again and Virgin Money is launching.
It’s easy to bemoan our country as being too easy on our banks, but things could be worse – we could be living in a country where bad banks get off Scot free.
It seems like that the Government will find a way to profit on the UK personal and business bank account industry come hell or high water!
The personal and business bank account world is not-so-secretly in a shambles this week, as disastrous and embarrassing mis-steps come to light.
The state of the UK personal and business banking system is in a shambles – banks are re-branding or shuttering branches left and right, but will this help?