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Pru could be forced to change Egg name

Prudential could be forced to rename its Egg account because its status as an instant access account is under question only two weeks after its launch.

The OFT and Advertising Standards Authority are investigating product literature sent to Egg customers.

The consumer watchdogs are looking at a clause in the savings accounts which allows the bank to change the notice period for withdrawing money from instant access to 60 day notice without telling customers.


Norwich Union scraps initial commission on tracker funds

Norwich Union plans to cut the 5 per cent initial charge on its index tracker funds following their conversion from unit trusts to an Oeic in November.The life office is also set to pay 0.5 per cent renewal commission on Oeics bought outside a Pep wrapper with the exception of its index tracking funds.It will […]

Skipton offers bond guaranteed against falling rates for five years

Skipton Building Society is launching an investment bond that offers customers protection from falling rates for up to five years.The Protection Bond has a fixed rate of 7.5 per cent gross until March 31 1999 dropping to a fixed rate of 7 per cent gross from April 1, guaranteed as long as the three month […]


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