5 Reasons Why No One Goes to the Bank Anymore

October 2nd, 2015|

Big banks were at the epicenter of the worst financial crisis in the U.S. since the Great Depression. It cost billions of taxpayer dollars to keep some of those banks afloat. Today, those institutions appear to have made a full recovery. In fact, they’re thriving. Figures released by the Federal Reserve show that the four […]

TransferWise is Undercutting Banks and Changing How Foreign Exchange is Transferred

September 27th, 2015|

TransferWise was nominated as one of the top 20 innovative companies in 2015 and its aim is to solve the problem of high fees associated with sending and receiving cross border foreign exchange.

Traditionally, using a bank was the only option to send and receive foreign currency, and it is still used by individuals and large […]

Hidden extra bank fees hit UK businesses with £400m bill

May 7th, 2015|

Research by MarketInvoice, an online invoice marketplace, has found that some 26,000 UK businesses face up to 35 hidden fees in their invoice finance contracts with banks, on top of interest and service fees. high street lenders charge 6.4p on average for every £1 of invoice finance. About 60,000 businesses borrow £20bn every three months […]

Bank Referral Legislation to Peer to Peer lending Platforms

May 7th, 2015|

In the UK, with the Small Business, Enterprise and Employment Act receiving Royal Assent in March, it has been estimated that the bank referral legislation encouraging banks to recommend small to medium enterprises to peer to peer lending platforms encompassed in the act could result in £2bn more funding being injected into the SME economy […]

BANKS and building societies have condemned a bank deposits tax plan as a burden on ordinary Australians and retirees.

May 2nd, 2015|

TREASURER Joe Hockey is pressing ahead with a proposal for a 0.05 per cent levy on deposits of up to $250,000, even though he criticised the former Labor government when it floated the idea ahead of the last election.
A bank deposits insurance levy is likely to be unveiled in the May budget as part of […]