According to a recent study on current account holders in the UK, it has been revealed that people who have switched to a new bank account have had problems.It was found that a large majority of bank account holders had difficulties when switching and that the bank also did not offer any help with the issue.This recent study backs up the main reason why many people do not switch current accounts for many years or perhaps years, as the process is seen to be too difficult or more trouble than its worth. The problem lies for consumers that by not switching bank accounts, consumers are then missing out on cheaper banking with another bank.See our current accounts comparison table for the latest offers. Plus, reading our guides and tips pages can offer consumers more detailed information and money saving hints.
Lloyds TSB has this week increased the rates of interest offered on its Plus current account to 6 percent, an enormous 2 percent more than it was previously.
The new higher interest rate is being offered on this particular Lloyds TSB current account for new customers opening their account before July 13. The only proviso is that at least GBP1,000 per month must be paid into the account, something that is quite common anyway.
Increasing their interest rate is quite a move for Lloyds TSB, though they appreciate that customers in the UK tend to be quite fixed when it comes to their current accounts, tending to stay with the same bank for many years. Lloyds therefore feel they have to really make an impact with their message in order to get people to consider moving and an impact it certainly is.
HSBC is continuing its progress towards acquiring the sixth biggest lender in South Korea, KEB, as it signs an agreement with the labour union.
The bank has already offered USD6.3 billion to KEB for a controlling interest, with this offer set to expire at the end of July. The HSBC has promised to retain all the staff and identity of the Korean bank and is hopeful that this latest agreement with the union will enable them to move forwards.
HSBC has always been seen as a global bank and this latest position highlights that fact. The bank really understands the needs of different cultures, aided by the fact that they work with the existing staff.
