MORE and more banks are offering rewards to lure Brits to switch current accounts, and now RBS is offering new and existing customers £150 in cash. This is the joint-highest upfront bonus together with HSBC and Natwest, but you'll have to meet some requirements before you get accepted. The new switching offer is available to new and existing RBS customers who switch their main bank account to a RBS Select, Reward, Reward Silver or Reward Platinum account before March 8. On top of the money, those who choose the Reward accounts receive 2 per cent cashback on bills paid by direct debit. This means the average customer could receive £83 each year if they have monthly bills of £345, according to RBS. But the Reward accounts do come with monthly fees ranging from £2 to £20, so carefully consider whether your bills are high enough to make the fees worth it. The RBS Select account comes with no fees, but you won't receive the cashback either. What do you need to get … [Read more...] about RBS will pay you £150 to switch current accounts – is it the best deal?
Bank deals new account
New first time buyer mortgage launched with no deposit
First time buyers struggling to save enough for a deposit may now be able to buy without one - along as they have a family member with enough in savings to back them up. That's through a new 100% mortgage from Lloyds Bank, which requires no deposit from the buyer. Instead, you'll need a family member that's willing to part with their cash for three years as a 'security' measure. It comes after research from the lender found that the number one life goal for people aged 18 to 35 is to buy a house - but half say that saving a deposit is the biggest barrier. The new Lend a Hand mortgage will allow you to buy without thousands sitting in your bank account. To apply, a family member will need to contribute up to 10% of the loan as security which will count as a their 'deposit'. The three-year mortgage, available to borrowers in England and Wales, will be fixed at 2.99%. And it will pay family members a "table topping" 2.5% interest on the money they invest for three years. "We are … [Read more...] about New first time buyer mortgage launched with no deposit
Lloyds Bank launches new 100% mortgage with NO deposit – but your parents must sign up 10% of their savings
BRITS struggling to get the money together for a deposit can now get a mortgage without one - as long as a family member contributes 10 per cent of the property purchase price from their own savings. But as a perk for lending the cash, the new "Lend A Hand" mortgage from Lloyds Bank will pay family members 2.5 per cent in interest on the money they deposit. The three-year mortgage, which is available to borrowers in England and Wales needing an up to 100 per cent loan, is fixed at 2.99 per cent. It's available on mortgages of up to £500,000 over a maximum period of 30 years. There's no fee and you can also bag £500 cashback once you've completed, plus an additional £300 to help cover legal costs - although the cashback offer can be withdrawn at any time. But be warned that you can't take the mortgage with you if you move; so you need to be sure you're going to stick in your new home for at least three years or know you can repay the entire mortgage in that time. You also … [Read more...] about Lloyds Bank launches new 100% mortgage with NO deposit – but your parents must sign up 10% of their savings
Company accused of role in €3 billion Azeri money laundering scheme had Pilatus account
A Scottish company which has been accused of playing a key role in a €3 billion scheme to launder money out of Azerbaijan had an account with the controversial Pilatus Bank in Malta, reports emanating from the Italian press reveal. Pilatus Bank was officially shut down last November after the European Central Bank revoked its license. The Bank has been at the centre of controversy since leaked documents flagged evidence of serious compliance shortcomings in 2016. It was also alleged that the bank was used to move Azerbaijani millions into Europe. According to reports from Il Sole 24 Ore and the IRPI (Investigative Reporting Project Italy), Hilux Services is one of five companies under investigation by the Prosecutor's Office in Milan for its alleged involvement in a €3 billion Azerbaijani money laundering scheme which passed through Danske Bank. Hilux Services held, according to these reports, an account at Danske Bank but also at Pilatus Bank in Malta. An … [Read more...] about Company accused of role in €3 billion Azeri money laundering scheme had Pilatus account
ICICI Bank launches new best buy easy access savings account with 1.55% rate
ICICI BANK has just launched an easy-access savings account paying 1.55 per cent in interest, knocking rivals from the top of the best buy tables. The last provider to offer a rate of 1.55 per cent was Nottingham Building Society at the end of October, but the deal was so popular that the small provider withdrew it after just two days. Yet experts expect this account to stay around for a while - but as always there's no guarantee. The new HiSAVE Bonus Saver Account by ICICI Bank, currently India's second largest bank, beats its rivals by 0.05 percentage points. Since Marcus Bank, the retail arm of investment bank Goldman Sachs, launched its savings account at a 1.5 per cent rate in September 2018, more and more banks have done the same with Virgin Money and West Brom Building Society now also offering 1.5 per cent rates. ICICI Bank's account comes with 1.25 per cent interest rate plus a 0.3 per cent bonus for 12 months, so after a year you'll want to review the account as the rate … [Read more...] about ICICI Bank launches new best buy easy access savings account with 1.55% rate