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Tag Archive: cash

  • Precious metals provide best returns for investors

    Precious metals continue to shine brightest among investors amid renewed uncertainty over the outlook for the global economy. According to new research by Lloyds TSB, precious metals (gold silver and platinum) were the best-performing asset class over the first half … Read more »

  • Fall in credit card usage

    New figures from the British Retail Consortium (BRC) suggest that consumers are allowing their credit cards to gather dust. According BRC research, the proportion of transactions using credit cards (both in store and online) fell by 12.9% in 2010, compared … Read more »

  • Debit card spending overtakes cash

    British consumers have set a new record by spending more using their debit cards than in cash over the 12 months to October. According to the UK Payments Council, debit card spending topped £272 billion during the period, against cash … Read more »

  • ATM withdrawals down as debit cards take over

    Britons are increasingly using their debit cards as an alternative to cash, according to the Payments Council. The body, which sets the strategy for UK payments systems, has also reported a fall in the number of ATMs available, as withdrawals … Read more »

  • Only two in ten lost wallets returned

    Britons have lost £765 million in cash in the past five years, with an estimated five million wallets and purses misplaced and a further four million stolen. New research commissioned by life assistance company, CPP, reveals that in addition to … Read more »

  • Bank of Ireland refunds forgotten ATM cash

    Bank of Ireland (BoI) is to refund over 43,000 of its own and other banks’ customers, all of whom failed to take their cash from its ATMs when making a withdrawal. ATMs are programmed to gobble up uncollected cash and … Read more »

  • Kent Reliance BS and JC Flowers work on cash injection

    Kent Reliance Building Society is in talks with JC Flowers regarding a £50 million injection of cash. According to reports, the deal could mean that one of Britain’s oldest building societies is partly demutualised, as over £2.2 billion of Kent … Read more »

  • MEPs vote in favour restricting bankers’ bonuses

    The European Parliament has voted in favour of restrictions on bankers’ bonuses that will take effect from the beginning of next year. From 2011, upfront cash bonuses will be capped at 30% of the total bonus and at 20% for … Read more »

  • New EU rules on bankers’ bonuses from 2011

    From 2011, annual bonuses paid to UK bankers will be subject to new EU rules that will limit the amount that can immediately be paid in cash to 30%, or 20% for larger payouts. Balances will only be handed over … Read more »

  • HSBC shamed over retailers’ plastic charges

    HSBC has come in for a lambasting from the British Retail Consortium (BRC), which is asking the Government to intervene over the charges levied by banks for payments by plastic. Not only have transaction costs almost doubled in the past … Read more »

  • Payments Council examines the card revolution

    A new report from the Payments Council tracks the demise of the cash transaction. In a study entitled “The Way We Pay 2010″ the Council describes the last decade as an era when “cards took control of our wallets”. The … Read more »

  • ISA facts and figures from Halifax

    Halifax has been reflecting on a decade of Individual Savings Accounts (ISAs) to reported that 37% of UK households now have one of the tax-free savings accounts. ISAs were introduced in 1999 to replace TESSAs and PEPs and not surprisingly, … Read more »

  • December ATM withdrawals could hit £10.6bn

    December could see up to £10.6 billion withdrawn from UK cash machines, according to Sainsbury’s Finance. Despite the recession, the projected total is £ £619 million more than extracted in December 2008, as ATMs deliver £237,100 a minute in the … Read more »

  • New ISA limits for over 50s take effect

    As of today, the limit on a cash ISA has been raised to £5,100, for anyone aged 50 by 6th April 2010, meaning an extra £1,500 can be invested, tax-free. The limit on a stocks and shares ISA has also … Read more »

  • Court rules in bank’s favour in “phantom withdrawal” case

    A UK court has found against a customer who sued his bank after being held liable for withdrawals from cash machines, which he claims he did not make. So called “phantom” withdrawals occur when money is withdrawn at bank ATMs … Read more »

  • ISA advice from Fairinvesment

    Ahead of the ISA deadline of the 5th April, is advising savers to consider the benefits of investing in both cash and stocks and shares ISAs, given that interest rates for savers are at historic lows. In today’s savings … Read more »

  • New cash for lenders as quantitative easing begins

    The Bank of England will this week begin the process of quantitative easing under a £150 billion scheme designed to free up commercial and personal lending. On Wednesday the Bank will hand over around £2 billion of newly created money … Read more »

  • RBS nationalisation resisted as Government stake rises

    The latest government support for Royal Bank of Scotland (RBS) will mean that the bank comes within a whisker of nationalisation. The taxpayer’s current 68% stake in the failed bank is heading over the 90% mark as the group receives … Read more »

  • Russia shores up domestic banks with $40bn

    Russia’s finance minister, Alexei Kudrin, has announced that around $40 billion (£27.6 billion) of government money will be injected into the country’s domestic banks, to shore up capital ratios. In return, Mr Kudrin expects the banks to restore lending to … Read more »

  • France’s six biggest banks receive €10.5bn cash injection

    The six biggest banks in France will receive a combined €10.5 billion (£8.2 billion) in government support before the end of the year. At a press conference yesterday, the country’s Finance Minister, Christine Lagarde, said her government would subscribe to … Read more »