University bound? Here’s how to pick a bank account and manage your cash

In the red Budgeting for the first time can be difficult for young people, with some overspending at the start of the year before they learn how to manage their loan. Maundrell says a bank will be more lenient if spoken to early, before a student slips into the red. Santander, for example, charges £5 […]

Lloyds bank loses £676million as it warns on cost of coronavirus

Hundreds of thousands of small businesses have been blocked from coronavirus loans in recent weeks as banks close their doors to new customers.

UPDATE 3-Pandemic pushes Lloyds Bank into the red as bad debt fears rise

COST TO GROUP Lloyds said it had lent more than 9 billion pounds to businesses through various government-backed relief schemes and granted more than 1.1 million payment holidays to consumers hit by the pandemic, but its support of these customers “will have a cost to the group”.

Pandemic pushes Lloyds Bank into the red as bad debt fears rise

COST TO GROUP Lloyds said it had lent more than 9 billion pounds to businesses through various government-backed relief schemes and granted more than 1.1 million payment holidays to consumers hit by the pandemic, but its support of these customers “will have a cost to the group”.

Barclays rolls out face-to-face video banking

Steven Cooper, Barclays’s chief executive of personal banking, said: “While many of our customers are increasingly using digital channels to complete routine transactions, for the important moments you just can’t beat face-to-face conversations, yet traditional branch opening hours don’t always give customers that choice.”

Lloyds returns to full private ownership after Government sells down remaining shares

Lloyds claimed the Government made a nominal profit of around £900m on the reprivatisation, which was managed by UK Financial Investments (UKFI), although that number is likely to be contested in some quarters because there are different methods to calculate the total amount spent on the rescue.

Digital revolution presents banks with more change in 10 years than last 200

The Barclays branch on Holborn, in London’s legal district, is one of 84 so far that have been transformed by the digital revolution. Customers are greeted by a member of staff armed with an iPad. Old-style counters have been ripped out and replaced by machines – “assisted service counters” – where customers can pay in […]

The MBE and his wife, and why NatWest shut down their accounts

Why banks are ‘de-risking’ So why are banks dumping often loyal individuals and organisations? They claim they are so concerned about being clobbered with ridiculously large fines from US regulators for breaching rules on money-laundering or financing terrorism, or for violating US sanctions against certain countries, that they have little choice but to “de-risk” their […]

Santander slashes current account cashback rates and hikes fees by up to £12 a year

Switching is easy. Under the switching service, swapping banks should take seven working days. That includes all your payments, direct debits and standing orders being moved too. Just open your new account and then ask your new provider to close your old account using the switch service. Make sure you are eligible. Most accounts have certain requirements, […]

High street banks charge hundreds of pounds more in overdraft fees than First Direct, Monzo and Starling – how to avoid being stung

Switching is easy. Under the switching service, swapping banks should take seven working days. That includes all your payments, direct debits and standing orders being moved too. Just open your new account and then ask your new provider to close your old account using the switch service. Make sure you are eligible. Most accounts have certain requirements, […]