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B&B penalises young savers

Young savers with Bradford & Bingley are being told they cannot put more than £1,000 into their accounts “for business reasons.”

Under-18s with accounts in their own name will not now be allowed to put more than £1,000 into savings accounts. If the balance is more than £1,000 they will not be allowed to top it up.

This should not affect their windfall rights should the building society demutualise.

Junior savers with accounts held in the name of a parent or guardian will not be hit by the new rules but they will also not qualify for any windfalls should the building society demutualise.


CA calls for Barclays to compensate customers

The Consumers&#39 Association has called for pay-outs to be made to ex- Barclays Bank mortgage borrowers.The watchdog believes customers may have been unfairly stung with big penalties for surrendering loans early. NatWest has repaid cash to 7,000 ex-customers hit with high charges for surrendering mortgage deals early.CA principal money researcher Neil Walkling, said: “Some of […]

Isas hit record high

Isa sales hit their highest mark in October since they were launched in April, according to the Association of Unit Trusts and Investment Funds. The Isa fund value for October 1999 reached more than £4.5bn. This compared to about £3.5bn in September 1999. Anne McMeehan, director of communications at Autif, said: “There is no reason […]

green funds good for technology report

Investors in ethical funds are reaping the rewards from the boom in technological markets, according to an ethical investment specialist.Bromige and Partners chairman David Bromige, said: “Companies in top-performing stock market sectors such as IT and telecommunications generally meet ethical criteria, so have been over-represented in may socially-responsive funds.”He said although there is no guarantee […]

FSA lays down law for directors

The Financial Services Authority is setting out proposals to ensure directors have clearly defined responsibilities, making them more accountable to their staff.Senior managers are expected to be held directly responsible for compliance and regulatory requirements. The plans should become law next year.


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