POUND NOTES
FINANCIAL OMBUDSMAN SERVICE PUSHES FOR HIGHER PAYOUTS
THE Financial Ombudsman Service (FOS) will soon be able to order firms to pay higher amounts of compensation to consumers and businesses. From April 1, the current £150,000 limit will increase to £350,000 for complaints about actions by firms on or after that date, the Financial Conduct Authority (FCA) has confirmed. For complaints about actions before April 1 that are referred to the Ombudsman Service after that date, the lower limit will rise to £160,000. The FCA has also confirmed that both award limits will be automatically adjusted every year to ensure they keep pace with inflation.
NEW TRIAL WILL SEE CUSTOMERS PAY WITH THEIR FINGERPRINTS
NATWEST customers will be able to verify card payments using the touch of a finger in a trial taking place in the coming weeks. The bank said it is piloting a ‘cutting edge’ biometric fingerprint bank card with 200 customers. In Scotland, the trial will involve customers of Royal Bank of Scotland. Bank cards used in the trial will store information which means people can verify payments by placing their finger over a box on the card, which is then swiped at the till.
SAVERS ‘DON’T KNOW WHERE BANK INVESTS THEIR MONEY’
SAVERS say they have no idea where their bank lends or invests their money, a survey by Triodos Bank has found. More than half (55%) say they would switch banks if they found their money was being lent or invested in areas that negatively affect people or the environment. Women were more likely to say they would switch if they found their money was having a negative impact on the environment or society.
CARS AND PETS HIGH ON RENTERS’ PROPERTY SEARCH PRIORITIES
RENTERS searching for properties are particularly keen to find a suitable home for their car and their pets, research suggests. Property website Zoopla analysed data from its keyword property search tool to find the most sought-after features of a rental home across Britain. ‘Parking’ was the most popular search word, followed by ‘garage’ and ‘pets’.