Category Archives: Banking
Internet banking use has nearly doubled, from 30% of adults in 2007 to 56% in 2015. But is this really the best way to keep our money safe? There’s no doubt that the internet makes saving money easier. But new research has shown that for some nations, including the UK, online banking login pages are vulnerable to low-skilled attacks.
If you’ve struggled to get a UK bank account in the past for whatever reason, then recent news that many banks will be offering a new ‘basic bank account’ for those who fail to qualify for a standard current account may come as welcome news to you. What’s more, these new basic bank accounts will also come with more favourable terms for users, as the accounts are going to be fee-free, meaning that account holders will not be charged a fee when they miss a direct debit payment, standing order, or the like.
When it comes to choosing a bank account, the choices seem almost endless. Every bank offers multiple different types of current account, with everything from a basic charge-free cash account to complex reward accounts that provide overdraft facilities, insurance and even breakdown cover for your car.
Switching bank accounts is something that we’ve spoken about a few times recently on Money Bulldog. We’ve mentioned the potential benefits of switching as well as touching on the new 7 working day switching process. What is the situation for those people who have an overdraft and regularly use it though? Can they still switch their current account?
Nowadays we’ve all become well accustomed to the idea of switching our utility and mobile phone providers etc. with the aim of saving money and finding the best deal. Are we all as comfortable with the idea of switching our bank accounts though, especially our main current account to another banking provider?