皇冠体育app

1. You can now switch your current account in 7 days

We set up the Current Account Switch Service in September 2013.

It鈥檚 a quick and easy way to switch your current account in 7 days 鈥� your direct debits and standing orders are transferred automatically, and there鈥檚 a switch guarantee, so you鈥檙e protected against financial loss if anything goes wrong when you switch. Over 3.2 million switches have taken place since 2013. And it鈥檚 also available to 99% of small businesses.

2. It鈥檚 now really easy for you to pay someone using your mobile phone

Services like Paym and Pingit let you pay somebody just through using your mobile phone number 鈥� so paying your share of the taxi ride home when your friend is the only one with cash is a lot less hassle.

皇冠体育app (which we set-up last year) is working with payment systems to improve how you pay for things.

3. Capping bank fees for processing card transactions

In December 2015 we introduced a cap on the charges paid by a business to your bank when you pay for something using a debit or credit card.

Industry has estimated that this could save UK consumers and businesses up to 拢700 million a year.

4. You鈥檒l soon be able to deposit a cheque using your smart phone

A change in legislation passed in the Small Business, Enterprise and Employment Bill on 26 March 2015 means that from 2018, banks will process all cheques as images. This not only means quicker clearing times, but greater convenience and choice in how you deposit cheques.

You鈥檒l still be able to deposit cheques at branches, cash machines, Post Offices or by post, but banks will also be able to offer the option of paying in cheques via smartphone, tablets or other technology.

5. Taking out a mortgage is becoming simpler

We asked Which? and the Council of Mortgage Lenders to look at how the fees you鈥檙e charged when you take out a mortgage can be made clearer 鈥� like better explanations of whether fees are compulsory or avoidable and when they will be charged.

contained commitments from industry to deliver a standardised fee tariff and to use the same terms so consumers can understand them.

6. You鈥檝e now got more banks to choose from

We lowered the regulatory barriers preventing banks from entering the sector. 8 completely new UK banks have been authorised since May 2015, and several more are in the pipeline.

This includes digital-only banks like Atom, Monzo and Tandem which are all competing hard for new customers.

7. If you鈥檙e a small business we鈥檙e making it easier for you to access finance

If you apply for a small business loan and it鈥檚 rejected, we鈥檙e changing the law so the lender you applied to has to offer to share your details with finance platforms so that you can be linked-up with alternative lending opportunities. You can also appeal a rejected application direct to your bank through the .

皇冠体育app provides a ranking of the best banking institutions, products and services, as rated by the UK鈥檚 small businesses themselves. This makes it easier to choose the right bank and products for your business.

8. It is easier to get a fee-free basic bank account

If you don鈥檛 have or can鈥檛 get a standard current account you can apply for a fee-free basic bank account from any of the UK鈥檚 9 largest banks. 皇冠体育appre isn鈥檛 an overdraft or fees for failed payments so you can manage your money without fear of running up an overdraft or being locked out of your account by unexpected charges.

皇冠体育appse accounts have features including:

• access to ATMs and online payments
• direct debit and standing orders
• over the counter services in bank branches and the Post Office