-British banks scrapping interest on current accounts.
Global Banking News-October 7, 2010--British banks scrapping interest on current accounts(C)2010 ENPublishing - http://www.enpublishing.co.uk
Global Banking News - 07 October 2010(c)2005 - Electronic News Publishing - http://www.enpublishing.co.uk
British banks are doing away with interest payouts on current accounts.
RBS (LSE: RBS) and Banco Santander (SAN.MC) are believed to have scrapped interest payments on current accounts. As current account credit interest rates have dropped, more banks are looking to stop paying interest altogether. Moneyfacts.co.uk recently reported that NatWest and RBS have stopped paying credit interest on all of their current accounts while Banco Santander has stopped paying interest on selected current accounts.
Barclays Bank (LSE: BARC), HSBC (LSE: HSBA) and The Co-operative Bank are believed to have totally stopped paying interest on current accounts.
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