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
This RSS feed URL is deprecated, please update. New URLs can be found in the footers at https://news.google.com/news
Money MarketingFCA to hold DB transfer workshops from OctoberMoney MarketingThe FCA will hold a series of defined benefit transfer workshops for regulated advisers across the UK from October to December. The workshops will reiterate the regulator's expectations when transacting this type of business and highlight the key ...Most advisers support DB transfer triageFT Adviserall 4 news articles »
The SunGBP to Turkish lira exchange rate – what is the exchange rate today and where's the best place to buy currency?The SunThe Sun Online has spoken with Hannah Maundrell, editor-in-chief at money.co.uk and she gave this advice. Don't buy cash at ... Don't pay for travel money with a credit card - it's likely you'll be charged a cash withdrawal fee which adds to the cost ...and more »
ForbesCleo Raises $10M Series A To Help Millennials Better Manage Their MoneyForbesIt already has 600,000 users in the UK, US and Canada, following a launch a year and a half ago, of which 94% are aged under 35. Each week 30,000 people sign up to use it. “Traditional financial products, such as overdraft fees or credit cards, don't ...and more »
How to stop living in an overdraft or help someone beat theirsDaddyhoodFor example, MBNA's low rate credit card doesn't have a 0 per cent transfer window but the rate is much lower than the default rates on other cards. It charges 4.9 per cent interest, plus a 0.5 per cent handling fee, on money transfers made in the ...and more »
Have you met...
Latest Members:


SURBHI SHARMA


mohammadasad


MS OFFICE


joker


laceygua


webtechcoupons


seanmaxwell

 

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