Latest Intelligence on Current Accounts in Europe

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Type Product title / description Pub Price
CommentWire
CommentWire

Paperless billing: mirage or miracle?

Banks, mobile phone providers, fixed line telephone suppliers, and airlines have all made efforts to encourage e-billing. Now it is the turn of the utilities, as British Gas encourages its customers to sign up to paperless billing. The service may provide advantages in targeted email marketing, but easy communication via email may lead to increased volumes of customer queries.

Published By Datamonitor
25 Feb 2004
CommentWire
CommentWire

Egg: going against the current

Egg has introduced a spending account that prevents customers from going beyond their allocated overdraft limit. Although Egg Money does not require customers to switch their current account, its attractive proposition means many may transfer part of their current account balance to Egg. Considering this, it will not be surprising if Egg's offering is replicated among current account providers.

Published By Datamonitor
12 Sep 2005
CommentWire
CommentWire

UK current accounts: not the full package

While Britons pay up to GBP200 a year in fees for packaged current accounts, new research from Alliance and Leicester has shown that few customers make good use of the facilities offered. However, while these accounts may indeed not suit everyone, they do bring with them a raft of secondary benefits that this research may have underestimated.

Published By Datamonitor
26 Sep 2005
CommentWire
CommentWire

Commerzbank: eastern ambitions should shore up recovery

Commerzbank has reported encouraging 2005 results, marking an end to a number of poor years for the bank. However, the lender cannot rest on its laurels and faces a number of challenges ahead. First and foremost will be the mammoth task of integrating recent acquisition Eurohypo into its business. Then the bank will look to continue its expansion through M&A.

Published By Datamonitor
17 Feb 2006
CommentWire
CommentWire

UK banking charges: regulator's tough stance risks nullifying consumer benefits

In a letter to the banking industry, the OFT has made it clear that the GBP12 limit on credit card penalty fees will not be applied automatically to overdrafts, as the regulator has not yet carried out enough research into this market. However the regulator is still likely to push for a general reduction in overdraft fees, raising the possibility that the banks may look elsewhere for profits.

Published By Datamonitor
22 May 2006
Expert View
Expert View

Lloyds TSB embodies burgeoning opportunities in Sharia finance

In a step to expand its Islamic finance proposition and compete with HSBC Amanah Finance, Lloyds TSB is the first high street lender to offer mortgages and current accounts which comply with Islamic law at all its branches. Such a strategy makes good sense, given the likely growth of Islamic finance in the UK.

Published By Datamonitor
15 Jun 2006
CommentWire
CommentWire

Credit Agricole: Greece is a land of opportunity

In its latest European expansion, French bank Credit Agricole has set its sights on the thriving Greek market, with plans to boost in current 10% stake in Emporiki Bank to 40%, prior to an outright buy. However Credit Agricole faces a stiff test as opposition mounts from Emporiki unions and staff, showing that entering the Greek market is not without its risks.

Published By Datamonitor
03 Aug 2006
CommentWire
CommentWire

Current accounts: UK OFT ups its stance against overdraft charges

The UK's Office of Fair Trading appears to have upped its stance on overdraft fees as it awaits the beginning of a High Court test case in early 2008. A long and tough battle is about to begin. Should the OFT succeed, banks will see a significant loss in revenue, and therefore seek other ways to recoup this loss, which may ultimately result in other changes that are unfavorable to consumers.

Published By Datamonitor
01 Nov 2007
CommentWire
CommentWire

Current accounts: OFT attacks "lack of transparency"

The Office of Fair Trading has said that the majority of customers are not aware of the charges and interest rates paid on their current account and are therefore unaware if they are receiving a good deal from their bank, leading to an uncompetitive market. As a result, just 6% of consumers changed their current account in the last year, the OFT claims.

Published By Datamonitor
17 Jul 2008
Expert View
Expert View

Tesco to challenge established current account players

Tesco is planning to enter the UK current account market by the end of 2009 via its Tesco Personal Finance brand. This will prove to be a very challenging exercise for the supermarket, not only because of the costs and logistics involved, but also because of the characteristics of the UK current account market, which continues to be dominated by big banks.

Published By Datamonitor
07 Oct 2008

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