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A&L says 750,000 could switch bank accounts this year

Nearly three quarters of a million people will switch banks in 1999 according to Alliance & Leicester commissioned research.

The lender suggests that there will be a move away from traditional high street players towards direct telephone operations.

The survey, conducted by market research organisation NOP, shows that 4 million people have switched their main current account in the last seven years.

A&L marketing communications director Mike Woodward says: &#34Most switchers will change from their traditional high street bank to one of the newer providers because of service problems with their existing bank.&#34


Nationwide launches European Tracker Mortgage

Nationwide Building Society is launching a sterling based mortgage linked to the European Central Bank&#39s interest rate.The European Tracker Mortgage which is available from March 24 will be priced at 1.75 per cent above ECB&#39s interest rate for 10 years.The current rate is 4.75 per cent but the society is offering a 1 per cent […]

European Fund Managers predict euro will increase business

European fund managers are predicting that their business opportunities will be greatly increased by the euro.A survey by DBC Search a head-hunting firm found 86 per cent of European fund management firms expect their institutional business to expand as a result of the EMU.More than 50 per cent of European fund managers are increasing their […]

Skipton Building Society launches ISA with NSPCC

Skipton Building Society and the National Society for the Prevention Of Cruelty To Children are joining forces to launch the cash based NSCPP-ISA.For every £1,000 invested in the Isa, Skipton will donate £5 to the NSPCC&#39s Full Stop campaign. The minimum investment is £3,000. Additionally, 0.5 per cent of the interest on the customers balance […]

Barclays to give £50,000 help to one lucky customer

Barclays Mortgages is holding a national prize draw to select one client who will get £50,000 loan to help pay their mortgage.Two others will receive a year&#39s payment holiday worth up to £6,000. Ten runners up will get a payment holiday of three months.To enter customers must request a mortgage quotation before the end of […]


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