- Lowest number of Mortgage Approvals since records began.
- In a breaking report from the Bank of England only 64,000 mortgages were approved last month.
- Tue 29th Apr 2008
- Are the Banks getting greedy?
- In a test case in the High Court today, 8 UK Banks may be deemed to have be charging their customers unfairly.
- Thu 24th Apr 2008
- Comparison websites under the hot spotlight.
- The centre for competition policy has produced a report saying independent checks need to be made of comparison websites.
- Sat 12th Apr 2008
Banks keeping up with 'pace of life'
Wed 12 Dec 2007 3pm
The growth of online banking has been driven by increased demand for quick and convenient financial services, an industry expert has stated.Spokesperson for the British Bankers' Association Lesley Mcleod said that the main appeal of internet banking services is "simple convenience", with many people having a fast-paced lifestyle and wanting quick access to their money.
However, she dismissed claims that a lack of direct contact between customers and their banks can lead to debt problems, stating that account holders have a "responsibility" to keep track of their own finances.
"Banks are there to offer a service and they are happy to do so, but they are not a nanny facility for people," Ms Mcleod remarked.
She added that online banking is now such an established part of the system that many customers view visiting a branch and speaking to someone face-to-face as a "draconian" way of conducting their financial affairs.
According to recent research from Alliance & Leicester International, 47 per cent of UK expats use the internet to check their bank balance on a weekly basis.
