Research carried out by the Abbey National has shown that around 20 percent of UK consumers have all their finances dealt with by just one provider. They feel it is simpler this way.
On top of these people who have already gone to one supplier there is another 18 percent who are seriously thinking about it. Between these two groups that is almost 40 percent of people looking to make their finances easier to manage. Does this say something about the population as a whole or the finance companies themselves wonder Abbey National?
On average we have 3 different finance organisations we deal with, as well as three passwords and three PIN numbers. No wonder people want to simplify things. The Abbey National do not advocate using just one password or PIN number though since this has a detrimental effect in security.
New Lloyds TSB current account customers will be able to enjoy a 6 percent interest rate if they open the Lloyds Plus account before 13 July.
The account is paying this exceptional rate for 12 months from the date the account is opened on balances up to GBP25,002. After the year is up the interest rate will rever back to 4 percent, still a very good rate in itself. The one proviso made is that at least GBP1,000 must be paid into the Lloyds TSB current account each month.
A spokeswoman from Lloyds TSB proudly stood by the rate offered, delighted that it was offering higher rates while many of its competitors were reducing theirs.
Sainsburys Bank is advising those travelling abroad to get their currency arrangements sorted out in good time to avoid losing money on commission charges and lower exchange rates.
Travellers who sort their currency out at the airport, as well as those who arrange their currency abroad, will find themselves out of pocket compared with doing it all in the UK prior to trave believes Sainsburys Bank. Waiting to the last minute leaves travellers with no options but to take the poorer exchange rates on offer and ultimately receiving less in their pocket.
A Sainsburys Bank spokesman hoped that travellers would bear this advice in mind. He felt it would be a shame if, after trying to get the best deals all year round on their purchases, they let themselves down on something so important like foreign currency.
