Ingenious Legal

09/12/2020

Beware the Credit Card Trap administrator December 2, 2020 0 Comments As many holidays and concerts were cancelled in 2020, and consumers get refunds to their credit cards, you need to be be sure that you’re not being caught out over making payments to your account, potentially leading to credit f...

09/12/2020

NatWest Penalise Innocent Business Customers administrator November 19, 2020 0 Comments At a time when every effort is being made by small and large businesses up and down the country, news that NatWest are acting in a way that could harm the economy is most unwelcome. Yet this is what is happening....

09/12/2020

Banks Withdrawing Offers and Perks administrator November 13, 2020 0 Comments As the cost of the Coronavirus pandemic begins to take hold, banks in the United Kingdom, especially Natwest and RBS, are making moves to claw back some of the potential losses from consumers by offering less attractive ra...

04/11/2020

HSBC Could Charge for Current Accounts administrator November 2, 2020 0 Comments As the effects of the Coronavirus pandemic take hold on the banking system, one of the largest UK High Street banks has warned that it may end the practice of free bank accounts to its UK customers. As reported by BBC N...

04/11/2020

‘Major Fraud’ Alleged at Lloyds Banking Group administrator October 29, 2020 0 Comments In another blow for the reputation of the UK banking system, an independent review into Lloyds Bank has come up with staggering conclusions. As reported by BBC News: An independent review into the handling of...

26/10/2020

Banks Plan to Hike Credit Card Costs administrator October 19, 2020 0 Comments As we enter what is now a significant period of disruption as part of the second wave of the Coronavirus pandemic, consumers across the UK will be shocked to hear that banks are ready to pile on the economic pressure on t...

13/10/2020

TSB To Close 164 Branches administrator October 9, 2020 0 Comments In another blow for consumers across the country who rely on their local High Street bank branch, TSB has announced it will be closing another 164 branches during 2021. As reported by Which? News: TSB has revealed plans to close a fu...

13/10/2020

Expats See Bank Accounts Withdrawn administrator September 25, 2020 0 Comments As the end of the UK’s transition period with the EU following Brexit gets ever closer, there is some bad news for British ex-pats in respect of their UK bank accounts. As explained in The Guardian: Thousands of Britons...

09/10/2020

TSB will be hoping its customers really don't care about the interest paid on their savings after it announced its Classic Plus current account would no longer pay anything at all from December.

The decision from the bank to abolish interest on Classic Plus balances means the rate paid will fall from 5 per cent as recently as June 2019 to absolutely nothing.

The 5 per cent rate was reintroduced by former chief executive Paul Pester at the end of April 2018 as an olive branch to customers after the bank's infamous IT meltdown.

TSB will be hoping its customers really don't care about the interest paid on their savings after it announced its Classic Plus current account would no longer pay anything at all from December.

24/09/2020

RBS ‘Least Trusted UK Bank’ administrator September 17, 2020 0 Comments Hot on the heels of the CMA rating RBS as one of the UK’s worst banks, it’s more bad news for the recently shelved brand. The bank came bottom of the table of the most trusted banks in a survey by Glow. As reported in th...

13/09/2020

Royal Bank of Scotland employees altered customers’ files ahead of an independent review into mis-selling of toxic interest-rate hedging products – potentially helping the bank to avoid paying millions in compensation, documents reveal.

The files related to interest-rate swaps which the bank said would protect clients against rising rates. Instead, the bank generated huge profits and then, as rates plummeted, customers were saddled with crippling debts that in many cases led to bankruptcy.

Bank routinely took out millions of credit in its customers’ names without telling them, to cover losses on products the bank had recommended, yet regulators failed to take action