Banks

Fair trading news for your business

Finance market is thwart with over complicated procedures, under staffed processes and topical debates that rage on for many months. So relating the current finance market to the evil twin of Robin Hood would be their personal approach.

Types of bank charge

Monthly account charges

Banks may charge their customers a fixed monthly charge for the provision of the account. In the UK, this was not common practice until the 1990s when banks began to introduce this type of bank charges as a means of product differentiation - often offering additional services bundled with the bank account itself (e.g. travel insurance, mobile phone insurance, preferential rates on other products).
bank charges, Reclaim unfair bank charges online with bankcharging.co.uk

What is PPI claims

Payment Protection Insurance, (also known as PPI, Credit Protection Insurance, Loan Repayment Insurance) (NOT to be confused with Income Protection or Credit Card Cover) is an insurance product that is designed to cover a debt that is currently outstanding. This debt is typically in the form of a loan or an overdraft, and is most widely sold by banks and other credit providers as an add-on to the loan or overdraft product.

Are Banks now in Write-Up Territory?

banks_1 As many debt securities jumped in values, are banks that experienced write downs before all in for a write up? A close examination reveals that the answer is neither obvious nor universal.

With banks already shrinking their portfolios of distressed assets, write ups will not be huge. For banks that have been hedging against potential write downs, if any hedging positions have yet to be cleared, with markets now rising in value, there would be losses from the wrong way hedge, reducing gains from marking up the underlying securities.

Mortgage Refinance Rates

banks The mortgage refinance rates for Canada will vary based on whether you choose a variable or fixed rate mortgage when refinancing. If you currently have a variable rate mortgage and are looking for regular monthly payments that are consistent, it is best to refinance with a fixed rate mortgage. This will give you a regular recurring payment that does not change, but your interest rate and payment may be higher. If you currently have a fixed rate mortgage and are looking for lower interest rates with the possibility of lower payments, but the payments fluctuate you should refinance with a variable rate mortgage.

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