A new five year contract has been agreed between the Alliance and Leicester and Payzone, a 17,000 site network where consumers can pay water bills.
Estimated figures for the year are that around 6 million transactions will be processed by the Alliance and Leicester on behalf of Payzone, consumers using either a booklet or credit card style payment card. The relationship between the two companies began in 2007 so this five year deal shows the belief they have in each other now.
The commercial side of Alliance and Leicester works with around 1,500 businesses to collect payments from consumers, with most utility companies signed up as well as 8 out of 10 local authorities.
Long standing Citigroup executive is leaving the organization, of which Citibank is a major part, after 23 years with the organization. The move is seen to be part of the business transformation being led by new CEO Vikram Pandit.
Citibank and parent Citigroup have been well looked after by Mr Klein, who was a key part of the management team, using his influence to secure multi-billion dollar investments from overseas. These investments were instrumental in keeping the company in the game as they suffered at the hands of the US credit crisis.
The move is amicable it is understood, with many people expecting it since Mr Klein was moved away from running the day to day operations of Citibank. It is expected that, like others recently, Mr Klein will probably head up a different financial organization, especially with the contacts and experience the 44 year old can bring.
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.
