Banking & Saving - Cheque Guarantee Cards to be 'phased out'
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Latest News Cheque Guarantee Cards to be 'phased out'
Cheque Guarantee Cards to be 'phased out'
Cheque guarantee cards will be phased out over the next 2 years says an industry body, after reports indicate a timeline has been set for bringing about their end by 2011.
The majority of these cards bearing the well known hologram of Shakespeare have now been incorporated into debit or credit cards, so it is unlikely that consumers will notice the changes.
This new measure will by no means be marking the end of cheques, so consumers and businesses will still be able to accept them even after the scheme ends.
Brian Pomeroy, of the Payments Council said: "We went to great lengths to listen to the views of all users and acceptors of guaranteed cheques and have only made the decision to withdraw the scheme after satisfying ourselves that no group will be unfairly affected or find that there is no means of making a payment".
It has also been suggested by payments experts that the use of cheques for payment is in "irreversible decline".
The future of cheques is currently under debate and a report is expected by the end of 2009.
The Payments Council has agreed not to phase out cheques until it is convinced that other payment options for the vast majority of cheques uses has been acknowledged and are available and suitable to users.
Written by Sam Gooch
The majority of these cards bearing the well known hologram of Shakespeare have now been incorporated into debit or credit cards, so it is unlikely that consumers will notice the changes.
This new measure will by no means be marking the end of cheques, so consumers and businesses will still be able to accept them even after the scheme ends.
Brian Pomeroy, of the Payments Council said: "We went to great lengths to listen to the views of all users and acceptors of guaranteed cheques and have only made the decision to withdraw the scheme after satisfying ourselves that no group will be unfairly affected or find that there is no means of making a payment".
It has also been suggested by payments experts that the use of cheques for payment is in "irreversible decline".
The future of cheques is currently under debate and a report is expected by the end of 2009.
The Payments Council has agreed not to phase out cheques until it is convinced that other payment options for the vast majority of cheques uses has been acknowledged and are available and suitable to users.
Written by Sam Gooch
Friday, 26 June 2009 15:50
| Provider | AER | Min Bal | O/D Rate | O/D Buffer | Apply |
|---|---|---|---|---|---|
| View Full Table > | |||||
 |
A&L Premier Current Account | ||||
|
0.50%
|
£1
|
0%
for 12 mths
|
£2,000
|
||
|
|
A&L Premier Direct Current Account | ||||
|
6%
|
£1
|
0%
for 12 mths
|
£2,000
|
||
 |
Co-op Current Account Plus | ||||
|
0.50%
|
£1
|
0%
for life
|
£200
|
||
 |
Santander In-Credit Current Account | ||||
|
6%
|
£1
|
0%
for 4 mths
|
£5,000
|
||
 |
Natwest Current Plus | ||||
|
0.10%
|
£1
|
No Offer
N/A
|
£100
|
||
- **Get £100 when you open a Premier Current Account online***
- The £100 will be deposited into your new account within 15 weeks of applying
- Get 0.5% AER (variable) on balances up to £2,500
- 0.1% AER (variable) on balances over £2,500
- £2000 0% overdraft facility for 12 months from account opening, then 50p a day (up to £5 a month) if agreed by Alliance and Leicester.
- FREE annual European travel insurance currently worth up to £60 (upper age limit 65 applies)
- You have to pay at least £500 per month into your current account
- You must be over the age of 21
- 6.0% Annual Earnings Rate on balances up to £2,500
- **(6.0% is fixed for 1 year)**
- 0.1% AER (variable) on balances over £2,500
- £2,000 0% overdraft facility for 12 months from account opening, then 50p a day (up to £5 a month) if agreed by Alliance and Leicester.
- You have to pay at least £500 per month into your current account
- You must be over the age of 21
- ***You must deposit at least £800 per month***
- Interest on all balances tracks at 0.5% below the Bank of England Base Rate, guaranteed for the life of your Current Account.
- UK call centres open 24/7, 365 days a year
- Fee-free £200 overdraft facility
- Dedicated switching service
- Earn 6% AER on balances up to £2,500 for 12 months
- After 12 months you will earn 1.0% AER on any balance on the account
- 0% EAR on Overdrafts for the first 4 months (up to £5,000 depending on your circumstances), after this it will revert to 19.9%EAR
- Manage your day-to-day money for free with no monthly account fee, no transaction charges and no charges for using account facilities - as long as you remain in credit
- Get a cheque book and a Visa Debit card. You can use your Visa Debit card in shops wherever you see the Visa symbol and at virtually every cash machine in the UK and many worldwide. It also acts as a £100 cheque guarantee card
- Access to your money 24 hours a day 7 days a week through our e-banking service, 750+ branches, 24-hour telephone banking service, LINK cash machine network or even by post
- At least £1,000 a month must be credited to get 6% AER on balances up to £2,500
- If not switching earn 6% AER on balances up to £1,000 for 12 months if £1,000 is credited each month
- Free day-to-day banking without subscription charges
- Overdraft available subject to eligibility, giving your finances some breathing space
- Chequebook available subject to eligibility; handy when cash or cards aren't convenient
- Monthly statements with all your transactions and your balance - by post or online. Or pick up a mini-statement from our cash machines
- A carbon neutral debit card (subject to status).
- Online Banking – do your banking from home (subject to registration).
- Telephone Banking – pay bills and more (subject to registration).
- A network of over 1,700 branches.
- Draw on cheques paid in before they clear (subject to status and limit).
- An overdraft: 19.3% EAR typical variable*. Subject to status and application. Overdrafts are repayable on demand.
- Barclays £2,500 Overdraft Reserve Option:
- - One Reserve Usage Fee of £22 for each five consecutive working day period from the day you start using your Reserve.
- - No interest payments on your Reserve balance. 0% EAR typical.
- - The Reserve is repayable on demand. The maximum Reserve is £2500, subject to status.
- - One Returned Transaction Fee of £8 for each returned transaction where you exceed your Reserve.
- - One Guaranteed Transaction Fee of £8 for each guaranteed payment made where you exceed your Reserve.
- Halifax will give you £5 each month you pay in £1,000, whether you're in credit or overdrawn.
- This account offers a flexible 0% Overdraft facility:
- - £1 per day - if you use an 'Arranged' overdraft up to and including £2,500
- - £2 per day - if you use an 'Arranged' overdraft up to and including £2,500
- - £5 per day - if you use an 'Un-Arranged' overdraft
- A Halifax Visa debit card
- Access to the extensive branch Network
- 24/7 Online Banking Access
- BOS will give you £5 each month you pay in £1,000, whether you're in credit or overdrawn.
- This account offers a flexible 0% Overdraft facility:
- - £1 per day - if you use an 'Arranged' overdraft up to and including £2,500
- - £2 per day - if you use an 'Arranged' overdraft up to and including £2,500
- - £5 per day - if you use an 'Un-Arranged' overdraft
- A Bank of Scotland Visa debit card
- Access to the extensive branch Network
- 24/7 Online Banking Access
- YOU NEED TO PAY £12.50 PER MONTH FOR THIS ACCOUNT
- **HSBC Plus customers will now be able to get £50 cashback when they switch as well as getting the first three months at only £6.47 per month (instead of £12.50)**
- How to get 10% AER on your savings with this account...
- Step 1: Open your HSBC Plus Account and agree to pay £12.50 per month for at least 12 months.
- Step 2: Open a joint Regular Saver Account (as a Plus Customer you will be given a higher interest rate of 10% rather than 8%)
- Step 3: You can move between £25 - £250 per month from Plus Account to the Regular Saver Account
- Step 4: If you invest £250 per month, a total of £3,000 will be paid into your account during the 12 month term. At 10% interest, you will earn approximately £163 interest (gross).
- WARNING: Partial withdrawals are not permitted from a Regular Saver Account. If you decide to close your account before the first anniversary HSBC Flexible Saver rate will apply (Currently 0.10% AER).
- Overdraft facility at 17.9% EAR variable is available, however this is on a case-by-case basis.
- Fee free cash withdrawals worldwide
- Worldwide family travel insurance (inc. winter sports cover - up to aged 70) - Worth £180 per year!
- ID Theft Assistance- £80 per year
- Life Cover - £43 per year
- Roadside Breakdown Assistance - £92 per year - Price based on RAC Solution 1 cover before any discounts.
- YOU MUST BE 18+ & PAY AT LEAST £500 PER MONTH INTO THIS ACCOUNT
- HSBC
- Free £50 when you switch - To qualify for this great offer simply fill in the 'Switching Your Account' Form contained in your Welcome Pack you'll receive soon after applying, and hand it in to your local branch.
- Automatically transfer your Direct Debits and standing orders to your new account
- New cheque book & Debit Card within a week of you opening your account...or HSBC give you £10
- Enjoy a 0% overdraft for two months, while HSBC transfer your account After this time the overdraft rate will be 19.9% EAR variable
- Make the most of your savings with a linked HSBC Regular Saver Account
- Sleep easy knowing you're supported by Identity Theft Assistance, which includes one free online credit report per year
- If you're on the move, keep tabs on your balance and transactions with Monilink Mobile Banking
- Manage your money with free 24/7 Internet Banking*, pay bills and make payments securely.
- Telephone and branch banking are also available
- Free HSBC Bank Debit Card to pay for goods and services at home and abroad**
- Get up to £50 cashback at various UK outlets when you pay with your free HSBC Bank Debit Card
- Monthly statements (or Go Green to save paper and view your statements online)
- Free everyday banking - no monthly subscription charges.
- No arrangement or renewal fees - on overdrafts up to £15,000. And pay no interest on agreed overdrafts of up to £100.
- Save on your mortgage - use your Interest Paying Current Account balance to save money with our Offset Service.
- Easy access to your money - your debit card gives you access to almost every cash machine in the UK. You can also pay for goods and services wherever you see the logo shown on your card.
- Online banking - manage your money 24 hours a day, 365 days a year with our telephone and internet banking services. (Except for short periods of essential maintenance.)
- Overseas money - get money in local currency at cash machines and buy goods wherever you see the logo shown on your card.
- Statements - monthly statements list all transactions and your current balance. You can also get mini-statements from any cash machine.
- Earn interest - we pay interest on your account; it's calculated daily and credited once every month.
- CardOneBanking offers the following:
- Guaranteed Acceptance
- Sortcode & Account Number
- Prepaid MasterCard card
- 24 hour account management by Phone, Text and Online Banking
- Dedicated Account Manager
- NO OVERDRAFT FACILITY – No risk of going overdrawn
- NO EXTRA CHARGES – No charges for bounced standing orders
- NO CREDIT CHECKS! – Guaranteed to be accepted, regardless of your past credit
- YOU must be 18+ and UK resident
- £30 account opening fee and £12.50 monthly management fee
| Provider | AER | Notice | Interest Paid | Min Bal | Apply |
|---|---|---|---|---|---|
| View Full Table > | |||||
 |
Halifax International Bonus Saver Account | ||||
|
2.53%
|
Instant
|
Monthly
|
£2,500
|
||
|
|
Halifax Websaver Extra | ||||
|
2.80%
|
Instant
|
Annually
|
£1
|
||
|
|
A&L Online Saver (Issue 7) | ||||
|
2.75%
|
Instant
|
Annually
|
£1,000
|
||
 |
Tesco Internet Saver | ||||
|
2.75%
|
Instant
|
Annually
|
£1
|
||
|
|
Santander eSaver Issue 2 | ||||
|
2.50%
|
Instant
|
Monthly
|
£1
|
||
- Earn up to 2.53 % AER* (2.50% gross** p.a.).This includes an introductory bonus of 1% p.a. gross for the first twelve months from the date of account opening^.
- Easy access to your money and unlimited withdrawals with no notice and no loss of interest.
- Interest rates are variable. Interest including your introductory bonus is paid monthly and added to your account on the last bank working day of each month. The introductory bonus rate is A choice of telephone banking or secure online banking to manage your offshore savings account with the advantage of our online fraud guarantee.
- Your account can be held as a sole or joint account with up to two account holders.
- Minimum opening balance is £2,500. The maximum balance is £500,000.
- Available for deposits not currently held with Bank of Scotland International Limited (this includes accounts held in the name of Halifax International) or the Jersey or Isle of Man branch of Bank of Scotland plc
- The Halifax International Bonus Saver Account is only available in Sterling.
- Personal customers only.
- 2.80% AER on Balances £1 - No maximum balance
- Withdrawals - 1 withdrawal a year with no loss of interest.
- Further withdrawals available should you need them however these will suffer 30 days loss of interest on the amount you withdraw.
- Access your money by transferring to another account online
- Interest paid annually
- You need to be a UK resident personal customers aged 11+
- YOUR SAVINGS ARE PROTECTED UP TO £50,000 BY THE FSCS - Financial Services Compensation Scheme
- SAVE from £1000 up to £2,000,000.
- Interest PAID annually.
- Rate includes variable bonus (depending on account balance) payable for 12 months from account opening.
- No withdrawal charges.
- Online account.
- Available to those aged 18 or over.
- Minimum Deposit £1
- 2.75% Gross/AER (variable) which includes a fixed 1.50% bonus for 12 months on balances up to £100k
- Balances over £100,000 earn 1.25% Gross / AER (variable)
- No withdrawal Restrictions
- Deposit & Withdraw money via online transfer
- Great return of 2.50% gross/AER (variable), which includes a bonus of 2.00% gross/AER (variable) for the first 12 months from account opening.
- Save from just £1
- 24/7 access to your money without notice or penalty - Cash Card with every account!
- Interest is calculated daily and paid Monthly
- YOUR SAVINGS ARE PROTECTED UP TO £50,000 BY THE FSCS - Financial Services Compensation Scheme
- Get 2.10% AER
- Get 6 free withdrawals per year - and only £1 per withdrawal thereafter
- Save £500 to £1million
- Interest is paid annually in March
- Post Office guarantee to pass on any rise in the Bank of England Base Rate (within 30 days) until January 2010
- Post Office also guarantee that your interest rate will never be more than 1% below the Bank of England Base Rate for the life of the account.
- YOUR SAVINGS ARE PROTECTED UP TO £50,000 BY THE FSCS - Financial Services Compensation Scheme
- Get 2.00% gross p.a./AER providing you don't make more than 3 withdrawals per year (more than this will result in a lower rate of interest).
- Save from £1 to £500,000
- If you ARE a Nationwide FlexAccount holder, you can set up a high interest internet savings account online
- If you are NOT a Nationwide FlexAccount holder, you WILL need to open a FlexAccount Online at the same time as opening your e-Savings Plus.
- Minimum opening balance - £1
- No maximum balance
- Interest paid annually
- Unlimited withdrawals and deposits
- Manage your savings - Transfer money, view recent transactions and check your balance online 24/7 with this internet savings account
- Applying is easy - it only takes 5 minutes to apply online now
- You need to be a UK resident personal customers aged 11+
| Provider | AER | Duration | Min Bal | Apply |
|---|---|---|---|---|
| View Full Table > | ||||
 |
ICICI 3 Year HiSAVE Fixed Rate | |||
|
4.70%
|
Fixed term for 3 years
|
£1,000
|
||
|
|
Halifax 3 Year Fixed Rate Web Saver | |||
|
4.50%
|
Fixed term for 3 years
|
£500
|
||
|
|
ICICI 4 Year HiSAVE Fixed Rate | |||
|
4.50%
|
Fixed term for 4 years
|
£1,000
|
||
|
|
Halifax 2 Year Fixed Rate Web Saver | |||
|
4%
|
Fixed term for 2 years
|
£500
|
||
|
|
ICICI 2 Year HiSAVE Fixed Rate | |||
|
4.25%
|
Fixed term for 2 years
|
£1,000
|
||
- Minimum Deposit £1000 - No Maximum!
- Deposit for a period of 3 years
- Earn an Annual Equivalent Rate (AER) of 4.70%
- Online Access allowing you to deposit funds and view your cash at all times.
- Access can be given to funds if required in emergencies within the year; however this will result in loss of interest accrued to date.
- Choose when you receive your interest – monthly (on the last day of every month. If the last day is not a working day, interest will be paid on the next working day) or annually (on the anniversary of account opening).
- No additional deposits, withdrawals or early closures can be made during the fixed term
- YOUR SAVINGS ARE PROTECTED UP TO £50,000 BY THE FSCS - Financial Services Compensation Scheme
- Account gives you a great rate of 4.50% AER
- You can open an account with just £500.
- The maximum balance is £9,000,000.
- Great fixed rates of interest - so you are protected against changes in interest rates and know exactly what you'll earn.
- On maturity you'll still get a good rate as your savings and interest are transferred into the Variable Rate Web Saver (which is opened at the same time as your Fixed Rate account).
- YOUR SAVINGS ARE PROTECTED UP TO £50,000 BY THE FSCS - Financial Services Compensation Scheme
- Minimum Deposit £1000 - No Maximum!
- Deposit for a period of 4 years
- Earn an Annual Equivalent Rate (AER) of 4.50%
- Online Access allowing you to deposit funds and view your cash at all times.
- Access can be given to funds if required in emergencies within the year; however this will result in loss of interest accrued to date.
- Choose when you receive your interest – monthly (on the last day of every month. If the last day is not a working day, interest will be paid on the next working day) or annually (on the anniversary of account opening).
- No additional deposits, withdrawals or early closures can be made during the fixed term
- YOUR SAVINGS ARE PROTECTED UP TO £50,000 BY THE FSCS - Financial Services Compensation Scheme
- Account gives you a great rate of 4.00% AER
- You can open an account with just £500.
- The maximum balance is £9,000,000.
- Great fixed rates of interest - so you are protected against changes in interest rates and know exactly what you'll earn.
- On maturity you'll still get a good rate as your savings and interest are transferred into the Variable Rate Web Saver (which is opened at the same time as your Fixed Rate account).
- YOUR SAVINGS ARE PROTECTED UP TO £50,000 BY THE FSCS - Financial Services Compensation Scheme
- Minimum Deposit £1000 - No Maximum!
- Deposit for a period of 2 years
- Earn an Annual Equivalent Rate (AER) of 4.35%
- Online Access allowing you to deposit funds and view your cash at all times.
- Access can be given to funds if required in emergencies within the year; however this will result in loss of interest accrued to date.
- Choose when you receive your interest – monthly (on the last day of every month. If the last day is not a working day, interest will be paid on the next working day) or annually (on the anniversary of account opening).
- No additional deposits, withdrawals or early closures can be made during the fixed term
- YOUR SAVINGS ARE PROTECTED UP TO £50,000 BY THE FSCS - Financial Services Compensation Scheme
- 4.10% gross/AER* on balances of £25k+
- Matures 1st February 2012
- Get a great fixed rate for the next two years
- Pay in anything from £1 up to a maximum of £2,000,000
- Invest £1 to £9,999 and receive 3.50% gross/AER
- Invest £10,000 to £24,999 and receive 3.75% gross/AER
- Invest £25,000 up to £2,000,000 and receive 4.10% gross/AER
- Available to new and existing Santander customers
- You can't add to your bond once it's open so put in as much as you can at the start
- This is a limited offer and subject to availability. Apply today as this product can be withdrawn at any time
- * gross/AER based on funds invested on 1st February 2010
- Matures 1st February 2012
- Get a great fixed rate for the next two years
- Save from £10,000 up to £25,000 and receive 3.75% gross/AER fixed
- Available to new and existing Santander customers
- Invest £1 to £9,999 and receive 3.50% gross/AER
- Invest £10,000 to £24,999 and receive 3.75% gross/AER
- Invest £25,000 up to £2,000,000 and receive 4.10% gross/AER
- You can't add to your bond once it's open so put in as much as you can at the start
- Accessing your money during the term can only be done by closing the account, which is subject to 120 days loss of net interest
- gross/AER based on funds invested on 1st February 2010.
- Account gives you a great rate of 2.00% AER
- You can open an account with just £500.
- The maximum balance is £9,000,000.
- Great fixed rates of interest - so you are protected against changes in interest rates and know exactly what you'll earn.
- On maturity you'll still get a good rate as your savings and interest are transferred into the Variable Rate Web Saver (which is opened at the same time as your Fixed Rate account).
- YOUR SAVINGS ARE PROTECTED UP TO £50,000 BY THE FSCS - Financial Services Compensation Scheme
- Account gives you a great rate of 1.50% AER
- You can open an account with just £500.
- The maximum balance is £9,000,000.
- Great fixed rates of interest - so you are protected against changes in interest rates and know exactly what you'll earn.
- On maturity you'll still get a good rate as your savings and interest are transferred into the Variable Rate Web Saver (which is opened at the same time as your Fixed Rate account).
- YOUR SAVINGS ARE PROTECTED UP TO £50,000 BY THE FSCS - Financial Services Compensation Scheme
- Matures 1st August 2011
- 3.60% gross/AER* on balances of £25k+
- Get a great fixed rate on your savings for one year
- Pay in anything from £1 up to a maximum of £2,000,000
- Invest £1 to £9,999 and receive 3.00% gross/AER
- Invest £10,000 to £24,999 and receive 3.30% gross/AER
- Invest £25,000 up to £2,000,000 and receive 3.60% gross/AER
- Available to new and existing Santander customers
- You can't add to your bond once it's open so put in as much as you can at the start
- This is a limited offer and subject to availability. Apply today as this product can be withdrawn at any time
- * gross/AER based on funds invested on 1st February 2010
- Matures 1st February 2011
- Save £1 to £9,999 and receive 2.50% gross/AER fixed
- Save £10,000 up to £2,000,000 and receive 3.00% gross/AER fixed
- Get a great fixed rate on your savings for one year
- Pay in anything from £1 up to a maximum of £2,000,000
- Available to new and existing Santander customers
- You can't add to your bond once it's open so put in as much as you can at the start
- Accessing your money during the term can only be done by closing the account, which is subject to 120 days loss of interest
- *gross/AER based on funds deposited by 1st February 2010.
- Get higher savings rate the more you deposit
- Deposit £1 - £24,999 = 3.0% AER fixed for 1 year
- Deposit £25,000 - £49,999 = 3.20% AER fixed for 1 year
- Deposit £50,000 - £3,000,000 = 3.50% AER fixed for 1 year
- You need to have a Nationwide Flexi-Current Account to deposit funds in to this bond. If you do not have one you will be asked to set one up as part of your application process.
- Manage your savings bonds online via our secure Internet Bank
- Enjoy the security of a guaranteed rate of return
- Choose between monthly or annual interest
- Open several e-Bonds (the combined savings bonds balance mustn't exceed £3m)
- Use your own e-Bond account nickname instead of having to remember a lot of numbers
- Your online security protected with Nationwide's Internet Banking Promise
