Independent Banking Advisory Service 

IBAS News 1999

NB: IBAS comments, quotes, analysis, case studies and information which were provided and included in the National News articles between 2001 and 1998 show - The 'Headline' of the piece together with the name of the National Newspaper in which the article was printed and the date of the publication only. However, banking or consumer researchers will be able to access further information or the complete article direct from the source quoted for those articles.

News 2001    News 2000    News 1998 

News 1999

 

IBAS comment and information was included in the following news articles during 1999:-

 

Bank in battle over charges - "A Lobby group for small firms is stepping up the pressure on Lloyds TSB by bringing personal account holders into a £1 billion court action. The Independent Banking Advisory Service claims firms were overcharged when the bank replaced interest fees linked with base rates with monthly managed rates between 1988 and 1992."  Financial Mail on Sunday 26/12/99

 

Thrift Institution - Lloyds TSB Turns Profit on the Cheap - "How cheap is Sir Brian Pitman, the Chairman of Lloyds TSB Group ?" -  "Mr Weatherill has taken to gathering complaints from unhappy customers of Lloyds" - Wall Street Journal - Europe, USA and Asia editions 13/12/99

 

Credit card users 'are paying £2.5bn too much' - "Overcharging is rife particularly with major banks. We do not believe it is an accident..." Daily Mail 13/12/99

 

The thieves who cash in on our money - Dormant accounts 'disappear' as banks pocket missing millions. Express 07/12/99 - article written by IBAS Chief Executive Eddy Weatherill

 

Lloyds accused over business charges - A report to be submitted today to Gordon Brown Chancellor of the Exchequer will accuse Lloyds of increasing charges by switching to a new system of calculating interest rates. Financial Times - 03/11/99

 

Lloyds TSB faces overdraft rates row - "We are concerned about people who were switched to managed rates without knowing.." Sunday Times - 31/10/99

 

Eddy Weatherill - Personal View - "I find it difficult to understand how, in my experience, Lloyds TSB seems to create a wave of complaints in the business and commercial banking areas, when Midland Bank with a similar market share, appears to provoke barely a minor ripple." - Excerpt from article written by Eddy Weatherill in September issue of Moneyfacts.

 

£11bn Natwest link with L&G is good news for everyone-except customers and staff - "While the banks scramble to win new business, existing customers often get a raw deal". Daily Mirror - 7/9/99

 

Key factor for firm's cash flow - "Choose factoring if it suits your needs but don't let yourself be pressured into it." Daily Mail - 18/8/99

 

How banks hit you hard in the pocket - "The banks have inflicted 10 years of misery and overcharging on businesses. We are pressing for a windfall tax on their profits." Financial Mail on Sunday - 8/8/99

 

Banks under fire for huge rises in profits - "We would support a windfall tax on the banking industry. The whole market has been a morass of overcharging." The Times - 4/8/99

 

Business: Your Money Not a moving account http://news.bbc.co.uk/1/hi/business/your_money/401244.stm - BBC 22/07/99

 

Lloyds teller u-turn - Lloyds back down on closure plans  - IBAS hail it as a victory for the consumer.

Sun 16/7/99

 

Home loans rip - off fury - Eddy Weatherill calls for a windfall tax stating: "We must have a windfall tax. Hitting banks in the pocket is the only way to get their attention". Daily Mail - 13/7/99

 

The money grabbers - IBAS claim "Big banks are totally disregarding the needs of their customers".

Daily Mail - 12/7/99

 

Lloyds Accused on firms receivership - IBAS gains £25,000 payment offer for overcharge error.

Sunday Times - 20/6/99

 

The not - listening  bank "Big banks are continuing their relentless drive to automation and are totally disregarding the needs of the customer" - Daily Express - 18/6/99

 

Counter Attack - "Account holders being given poor service or no service at all" - Sun - 17/6/99

 

Banks get the grabby habit - £1.50 charge to use cashpoint - "It's bad news for consumers. The bank is cutting costs to rake in bigger profits" - Sun - 27/5/99

 

Cheques on to the scrapheap - 6,000 cut at Barclays hi-tec revolution - "10% is a large number of workers. There is already evidence queues are getting longer"

Sun - 21/5/99

 

How a bank roasted an oven maker - Eddy Weatherill offers useful points to help avoid problems

Money Mail - 28/4/99

 

Don't bank on Barclays for answers - "Banks are still too slow to acknowledge and deal with complaints"

Sunday Telegraph - 28/3/99

 

£4m bank robbery - Barclays boss pay-off - "Customers will be upset a pay-off was even considered"

Sun 23/3/99

 

New curbs demanded on 'trigger happy' receivers - IBAS said it has received a large number of complaints about fee-hungry investigating accountants. - Accountancy Age - 18/02/99

 

Bank profits anger - IBAS Chief Executive said "Day of reckoning for greedy banks was overdue. We would certainly support a windfall tax" - Daily Mail - 24/2/99

 

'Better deal' that cost a firm dear - unhealthy relationship between banks and receivers Money Mail - 24/2/99

 

Complaints about banks rising despite new code - Nearly a third of complaints concerned banks integrity, honesty and lack of transparency. - Sunday Express - 14/02/99

 

Insurance products and your bank - If you're thinking of buying insurance from your bank, do so with caution advises Eddy Weatherill. - WFH Feb-99

 

Banks stall complaints up to six years - High street banks deliberately stall complaints and slow up court proceedings in a bid to wear down customers. - Sunday Times 24/01/99 and Guardian - 30/01/99

 

Beware the on demand loan - Message to small business owners: Beware bank managers bearing loans. Money Mail - 20/01/99 and CEN - 08/01/99