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June 13, 2011

Barclays to settle payment protection insurance claims

Filed under: Industry News — Tags: , , — Martin @ 12:26 pm

Barclays has said it will pay out compensation to everyone to whom it sold payment protection insurance and who made a complaint before 20 April. Customers will be reimbursed the total value of all premiums plus 8% interest.

“We can confirm that we are contacting customers whose complaint was put on hold on or before 20 April with an offer to settle their complaint in full as a gesture of goodwill,” the bank said.

Which? chief executive Peter Vicary-Smith welcomed this move. “It’s fantastic to see Barclays stepping up in this way, acknowledging their mistakes and refunding customers what they’re owed, no questions asked,” he said. “Hopefully this will have a domino effect and other banks will follow suit,” he added.

Read the story here: Barclays settle PPI claims

March 17, 2011

Five pound notes are still a rare offering

Filed under: Industry News — Tags: , , — Martin @ 12:37 pm

Recently, finding a £5 note in a cash machine has felt like winning the lottery. Figures obtained by the BBC have discovered that less than 3% of the ATMs in the UK dispense £5 notes. The first cash machine was first tested at a Barclays branch in Enfield in 1967 and produced bundles of 10 £1 notes.

So why do the cash machines only produce £10 or £20 notes when all we want or can afford in these recession-hit times are £5 notes?

The Bank of England have been running a campaign to bring them back into everyday existence. I have 2 cash machines in my local town that regularly allow me to withdraw £5 notes but do you struggle to find these ATMs? Read the story here: Five pound notes

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