What would happen if your bank went bust? Most banks offer some form of state backed compensation scheme that would protect you to some extent. For example in the UK, you would receive up to GBP85,000 should your bank fail. Some countries provide higher levels of compensation and others lower. September’s action point, is to […]
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Lloyds TSB International to Scrap Fees on International Money Transfers
Lloyds TSB International has announced that, with immediate effect, it will stop charging its expatriate clients a fee to their transfer money internationally. Holders of the bank’s Premier international Account will now no longer be charged a transfer fee to move currency to any overseas bank account, whether it involves a currency exchange or not, […]
Transferring Currency Quickly and Cheaply
When looking to exchange foreign currency, it is worth using an online foreign exchange/currency broker rather than your bank. This applies even if it is a relatively small amount of money that you are looking to transfer. The main reason for this is that their fees are far lower than at UK banks. Some online […]
UK Banks Charge Exorbitant Fees for Overseas Transactions
Research by consumer watchdog “Which” has found that UK bank fees for overseas transactions are too high and too complicated, labelling them as “exorbitant”. Their researchers popped over to Calais at the end of last year to compare the amount charged by different banks for the same EUR5.95 debit card purchase and EUR20 ATM withdrawal. […]
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