According to a new survey from a high-street bank, the number-one reason why customers do not switch current account is the hassle of moving Direct Debits and standing orders. A survey of 3,740 adults for Abbey by polling company YouGov found that people came up with six main excuses for sticking with their existing current account: 1. Almost two-thirds (65%) think transferring Direct ...

No PIN, no signing, no touch required DETAILS WERE ANNOUNCED of the initial London roll out of a new wave of contactless debit cards, credit cards and pre-pay cards for payments under £10. An extension to the existing Chip and PIN EMV network, Maestro / MasterCard’s PayPass and Visa's contactless system will allow users to pay for small goods such as rail tickets, newspapers an...

As it is National Identity Fraud Prevention Week (check out the Stop ID Fraud website), I thought I'd take the opportunity to warn you about this financial scam. Your personal information is surprisingly easy to steal and can be worth thousands of pounds to a thief. Armed with personal and financial data, a fraudster can apply for credit in your name, spend a fortune, and then disappea...

Customers of Barclays Bank have been alerted to a range of phishing emails designed to steal online banking details. Antivirus company Panda Software has identified 61 variants of spoofed emails targeting Barclays customers. Panda said that 64 per cent of the phishing messages it has detected in the past few hours were aimed at the UK bank. The rush of spoof emails has ...

In the last three years banks have increased their charges by up to 20 per cent, new research finds. Since 2003, the average penalty fees levied for unpaid standing orders, bounced cheques and direct debits have risen to more than £32 from £27, research from Defaqto reveals. The Office of Fair Trading (OFT) is currently investigating these fees - after ruling that such charges ...