Category Archives: Savings

Killing you softly – Barclays and Standard Life Bank

When Standard Life Bank first launched we were big fans. It was one of the first with flexible mortgages – Freestyle – and we took one of those out with it, with the majority of the transaction being completed quickly and easily online and over the phone. We also opened a number of its Direct Access […]

First direct’s CEO Matt Colebrook talks social media with themoneymuse

When we first sat down to talk about creating a new direct bank we had a blank piece of paper in front of us. In the middle of it, we wrote the word “customer” and drew a circle round it – that was the first document first direct ever produced. Why start an article on […]

6 reasons why people don’t take financial advice

For many years a big part of my job was promoting Independent Financial Advice.  In fact I worked with IFA Promotion (nowadays more commonly known as Unbiased.co.uk) for about 13 years. Personally I am a big believer in financial advice and indeed use an IFA myself. Sadly, despite the undoubted effectiveness of IFAP and its […]

Why the financial services industry wants a base rate change…

Yesterday’s Money Mail article on savings rates cuts made me think about how many in the marketing departments of banks and building societies must be longing for a Bank of England Base Rate change. Why?  Because rate changes it make it easier to reprice their new and existing product ranges to gain margin “unobtrusively”. The […]

Brand new savings customers only please

Is it any wonder that we’ve fallen out of love with saving – when banks and building societies are still abusing their existing savings customers to give a better deal to new customers. Why do providers treat their customers so shabbily? It happened to me, despite the fact that I work in financial services and […]

Will “Simple Products” get people saving?

Mark Hoban, the Financial Secretary to the Treasury has announced a consultation into a possible new range of simple financial products.  In his speech he said: “simple products will help everyone make better choices, and we particularly intend to hep encourage saving”. But will it work? There’s no doubt that many UK household have a […]