The material on this website is for information only
and is not intended as any recommendation or endorsement of any products or companies mentioned. We are not licensed by the FSA to give financial advice, and none of the material on this website constitutes or is intended to constitute financial ...
News
ForbesAre Credit Cards More Innovative Than FinTech Startups?ForbesBarclaycard, the largest and first credit card issuer in the UK, turned 50 years old. In the 1960s, on both sides of the Atlantic, a revolution in how we make payments and borrow money was started. Fast forward, and in 2016 our wallets are overflowing ...
ABC OnlineBrexit: Who is running to be the UK Conservative Party's new leader?ABC OnlineA government investigation found he had breached the ministerial code by allowing an "inappropriate blurring of lines between official and personal relationships". He has also held the posts of junior foreign office minister and Conservative Party ...and more »
Telegraph.co.ukBarclaycard turns 50: How five decades of credit cards have changed money for goodTelegraph.co.ukBut money was about to change in another, potentially more influential way than removing the old system of pounds, shillings and pence. On June 29 – 50 years ago – Barclaycard launched the UK's first credit card. The card – millions of which were sent ...Eight great benefits credit cards offer if you use them wiselyBT.comCredit cards turn 50Moneywise Magazine50 Years On For The Credit Card And We're Deeper In DebtiExpats.comall 13 news articles »
The GuardianUK interest rates: what would a cut mean for you?The GuardianWhen the base rate went to 0.5%, on paper, that suggested borrowers would have to pay -0.51%. Instead, C&G cut the rate to 0.01% - its computers could not handle mortgages at 0% – but did not actually go negative. But note that in money markets ...FTSE CLOSE: Footsie rockets by over 2% in final half hour, but pound drops like a stone after Governor Carney ...This is Moneyall 296 news articles »
Money MarketingBeware the overseas public sector pension trapMoney MarketingDuncan can continue paying contributions to a registered scheme while abroad. He will remain a relevant UK individual for up to five years and as such could pay gross contributions of £3,600 to a personal pension (Duncan is unlikely to have any ...and more »
Have you met...
Latest Members:


marwasaf


lolo


danny


midomidi2013


asmaasaad


shazly


ser1es

 

Switching banks

69% of people believe they have the best bank account for their needs and UK customers are less likely to switch bank than people in any other European country according to research by Bacs.


Bacs, the company behind Direct Debit, believes we don’t switch because we think it’s too problematic. Its research shows that almost half of us haven’t switched because we believe “it would be too much hassle”, with more than a quarter thinking that changing regular payments and Direct Debits would be “too complicated”.
So Bacs and its member banks have produced a simple step-by-step ‘Account Switching’ guide which also answers people’s most frequently asked questions. The guide is free and can be found at www.thesmartwaytopay.co.uk/accountswitching.

With internet, supermarket and telephone banking all growing and contributing to an increasingly competitive marketplace, there are financial advantages for consumers who are prepared to switch banks. The service costs nothing and is made as simple and painless as possible for the account holder - all the customer needs to do is decide which Direct Debits and Standing Orders to move over to the new account and leave the rest to the new bank.

If you’ve tried switching let us know if you found it simple and painless – liz@moneyagonyaunt.com
Bacs was set up in 1968 as a not-for-profit, membership-based industry body. It’s owned by 15 of the leading banks and building societies in the UK and Europe. Since then more than 73 billion transactions have been debited or credited to British bank accounts via Bacs. And in 2008 more than 5.6 billion UK payments were made this way with a total value of £3.85 trillion.

Direct Debit:
A Direct Debit is an instruction from a customer to their bank or building society authorising an organisation to collect varying amounts from their account. This can be used to ensure regular, safe and efficient payments of anything from household bills to charitable donations. Over three billion Direct Debit payments are processed by Bacs a year and 75 per cent of adults now have at least one Direct Debit commitment.

Direct Credit:
Bacs Direct Credit is mainly used for paying wages and salaries - in fact over 90 per cent of the UK workforce is paid via Bacs Direct Credit. In total, Bacs Direct Credit is used for paying four million wages every week and nearly 25 million salaries a month. In 2008, more than 2.25 billion payments were processed using Bacs Direct Credit, a new record for the payment method.

Advertise with us  |  Privacy  |  Terms & Copyright                                                                                     Website maintained by USP Networks