Latest Intelligence on Current Accounts

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Type Product title / description Pub Price
Expert View
Expert View

Bank of Scotland: facing the return of the crusade against fees and charges

The Bank of Scotland is preparing for a court visit this summer after an unfair fees and charges case was revived at Glasgow's Sheriff Court. The reopening of the case may have been inevitable and, should it be successful, would force banks to reassess their revenue models.

Published By Datamonitor
25 Feb 2010
Expert View
Expert View

PayPal suspension in India threatens to become PR disaster

Following a crackdown by India's banking regulator in the wake of recent anti-money laundering legislation, PayPal has suspended cross-border and internal personal payments in the country. The digital payments provider has offered consumers little explanation as to the causes or indeed the expected duration of the blackout.

Published By Datamonitor
12 Feb 2010
CommentWire
CommentWire

Poland: a new wave of developments will determine the success of contactless cards

PKO Bank Polski, Poland's largest card issuer, is to reissue its 6.5 million debit cards with Visa payWave between June 2010 and the end of 2011, adding to the 40,000 already issued by Bank Zachodni. It is now vital that Visa acts on its plans to grow the number of accepting terminals in Poland to 20,000 during 2010, as without an adequate network, contactless technology's impact may be limited.

Published By Datamonitor
27 Jan 2010
Expert View
Expert View

Current account holders still dubious about switching

Datamonitor research has shown that British consumers are wary of switching current account providers. New research commissioned by PricewaterhouseCoopers supports this, highlighting that consumers remain unconvinced of the benefits of switching despite new market entrants. Providers must go further to attract new business, including harnessing the power of social media.

Published By Datamonitor
27 Jan 2010
Expert View
Expert View

Central and Eastern Europe provides opportunities for the cards industry despite the recession

The impact of the financial crisis has been felt across Europe, but that does not mean that opportunities in the card industry have dried up. In the face of contraction across the west of the continent there will be moderate growth in Central and Eastern Europe during 2010, and this will become stronger from 2011, showing that there are still good prospects for issuers with the right strategy.

Published By Datamonitor
12 Jan 2010
CommentWire
CommentWire

RBS: move towards traditional banking modes is a sign of a wider shift in the cards market

On October 1, the Royal Bank of Scotland said that its RBS and NatWest brands will no longer issue new credit cards to anyone other than their current account customers. The move, coming as it does on the heels of an announcement by HSBC that it will be focusing on its existing clients, suggests a continuing shift towards traditional banking models for credit card issuers.

Published By Datamonitor
15 Oct 2009
CommentWire
CommentWire

Northern Rock: industry opposition to planned restructure could put sell-off at risk

Mutual providers have attacked a Treasury scheme to split Northern Rock into a 'good bank' and a 'bad bank'. The Building Societies Association argues that the new lending arm, unchained from all bad debt, will be able to lend much more freely than its competitors. If European regulators impose penalties on the bank as a result, this could endanger a planned sell-off by the government.

Published By Datamonitor
20 Aug 2009
CommentWire
CommentWire

UK government: making financial services digestible

As part of its recent white paper on banking reforms, the British government has suggested ways in which the financial services industry can re-engage with consumers, including the introduction of a color-coded system more commonly found on food labels. While the suggestion has drawn some criticism, the proposed system should at least lead to greater innovation and competition within the industry.

Published By Datamonitor
14 Jul 2009
CommentWire
CommentWire

RBA: new data fuel penalty fee debate

New data released by the Reserve Bank show that Australian banks amassed almost A$1 billion in penalty fees from consumers, including late and overdraft fees. The figures add weight to consumer groups' criticism of excessive penalty fees, but the Australian Bankers' Association has defended the charges, noting that they are easily avoidable by conscientious consumers.

Published By Datamonitor
22 May 2009
CommentWire
CommentWire

Free banking model could be under threat

Access to cheap consumer credit is becoming increasingly difficult against the backdrop of the credit crunch. Interest rates on authorized overdrafts have increased and overdraft credit has become more expensive. Furthermore, if the OFT decides that bank charges are unfair the free banking model could be put in jeopardy as banks look to make up this lost revenue.

Published By Datamonitor
12 Nov 2008

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