DOCSLIB.ORG

How Bank Brands Measure up As the Market Goes Increasingly Digital

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
How Bank Brands Measure up As the Market Goes Increasingly Digital www.retailbankerinternational.com Issue 754 / october 2018 WHAT’S IN A NAME? HOW BANK BRANDS MEASURE UP AS THE MARKET GOES INCREASINGLY DIGITAL FEATURE ANALYSIS PRODUCTS Jacqui Allard on how The banking sector is German digital-only N26 RBC converts data into innovating at breakneck takes the fight to the actionable knowledge speed in a digital arms race popular UK challengers RBI 754 October 2018.indd 1 22/10/2018 15:18:47 contents this month COVER STORY NEWS 05 / EDITOR’S LETTER 10, 16 18 / DIGEST • BBVA Anthemis partner to build venture creation studio in London • NatWest first to partner with Finastra’s Fusion LenderComm • London-Shanghai stock connect: HSBC set to list first • Selfie banking: a first for New Zealand • Consumers increasingly willing to use non-banks • BofA beats forecasts with improved margins • SocGen trials biometric cards • Barclays digital bank set to challenge US market • Metro Bank Insights goes live • StanChart and Huawei to develop IoT solution BANK BRANDING 19 Editor: Group Editorial Director: Head of Subscriptions: Douglas Blakey Ana Gyorkos Alex Aubrey +44 (0)20 7406 6523 +44 (0)20 7406 6707 +44 (0)20 3096 2603 [email protected] [email protected] [email protected] Senior Reporter: Sub-editor: Director of Events: Patrick Brusnahan Nick Midgley Ray Giddings +44 (0)20 7406 6526 +44 (0)161 359 5829 +44 (0)20 3096 2585 [email protected] [email protected] [email protected] Junior Reporter: Publishing Assistant: Briony Richter Mishelle Thurai +44 (0)20 7406 6701 +44 (0)20 7406 8633 [email protected] [email protected] Customer Services: +44 (0)20 3096 2603 or +44 (0)20 3096 2636, [email protected] Financial News Publishing, 2012. Registered in the UK No 6931627. ISSN 0956-5558 Unauthorised photocopying is illegal. The contents of this publication, either in whole or part, may not be reproduced, stored in a data retrieval system or transmitted by any form or means, electronic, mechanical, photocopying, recording or otherwise, without the prior permission of the publishers. For more information on Verdict, visit our website at www.verdict.co.uk. As a subscriber you are automatically entitled to online access to Retail Banker International. For more information, please telephone +44 (0)20 7406 6536 or email [email protected]. London Office: John Carpenter House, John Carpenter Street, London, EC4Y 0AN Asia Office: 1 Finlayson Green, #09-01, Singapore 049246 Tel: +65 6383 4688, Fax: +65 6383 5433 Email: [email protected] follow RBI on twitter @retailbanker 2 | October 2018 | Retail Banker International RBI 754 October 2018.indd 2 22/10/2018 15:19:03 contents october 2018 ANALYSIS 06 10 / DIGITAL SUB-BRANDS RBS ranks joint bottom of the 16 largest UK lenders for customer satisfaction; as part of its fightback, it is to launch a digital sub-brand, Bó. Douglas Blakey looks at the winners and losers in an increasingly competitive market 15 / DIGITAL ENGAGEMEMT The banking sector is innovating at breakneck speed. In a digital arms race, banks around the world aim to invest a whopping $97bn to improve and accelerate their digital capabilities in the front office alone. Briony Richter writes INDUSTRY INSIGHT 13 / FINASTRA The UK’s Financial Conduct Authority and Competition and Markets Authority recently required large banks to publish data on how likely people would be to recommend them. Martin Häring looks at possible responses FEATURES DISTRIBUTION 14 / FIS 06 / RBC 08 / TINKOFF There has never been a better time to be a Technology and data underpin everything Tinkoff Bank is delivering a double whammy: banking consumer, with banks new and old a successful bank does, but as RBC’s Jacqui Tinkoff Junior is an easy-to-use app to help striving to optimise the customer experience. Allard tells Douglas Blakey, data in itself is young clients manage their personal finances, Marianne Brown asks if established banks can not valuable, it is how RBC converts it into while the Tinkoff Black card can accommodate meet the challenge posed by new entrants actionable knowledge and value that is key up to 30 currencies, reports Douglas Blakey 22 / PILLSBURY WINTHROP 16 / BRAND VALUES 09 / N26 SHAW PITTMAN Banking is not normally praised for its The UK’s fintech sector is crowded and fiercely Last year’s World Payments Report highlighted branding; banks tend to be just present rather competitive. Now, digital-only bank N26 is the emergence of a new payments ecosystem than exciting. And while the sector has built taking the fight to the popular challengers. driven by changing corporate and customer up some brands, others have taken a post- Alex Weber speaks to Briony Richter about expectations, writes Tim Wright crises tumble. Patrick Brusnahan writes building a bank that the world wants to use 12 / REVOLUT The UK triggered Article 50 in March 2017, but key questions remain about what Brexit means for the financial sector. Revolut CEO Nikolay Storonsky speaks to Briony Richter about the bank’s global plans 08 06 22 www.retailbankerinternational.com | 3 RBI 754 October 2018.indd 3 22/10/2018 15:19:15 HEAR ∤ NETWORK ∤ DISCOVER ∤ CELEBRATE SHAPE THE FUTURE OF PRIVATE BANKING Private Banking & Wealth Management: Switzerland 2018 12th December 2018 ∤ Marriott, Zurich Private Banking & Wealth Management: Switzerland 2018 Conference and Awards leverages the expertise across the Verdict research and publishing portfolio, including Private Banker International, Wealth Insight and Wealth Intelligence Centre. The event is an opportunity to share ideas, discover trends and network with peers across the wealth industry. Key Issues : ∤ Economic trends to 2020. Wealth ∤ How should Switzerland’s private banking management industry performance industry define itself in the age of digital technology and intensifying competition? ∤ With technology playing an increasingly significant role in service delivery what ∤ What channels are working for attracting, benefit does institutional size confer? retaining and managing an increasingly diverse customer universe? ∤ What are the implications for service, delivery and product distribution in the ∤ What’s the connection between distribution age of the digital wealth manager? and profitability? How are Swiss private banks adapting to the challenge of tight ∤ How is technology enabling faster, more cost margins and higher costs? effective on-boarding, KYC and compliance reporting among wealth management ∤ What does the country need organisations? to do to stay ahead? Gold Partner: Silver Partner: Bronze Partners: Exhibitor: Supported by For more details please contact: Page 1 Vicki Greenwood on [email protected] or call +44 (0) 20 3096 2580 editor’s letter A small cheer for FOS extended powers Douglas Blakey, Editor ews that the FCA is giving the green light to the The UK regulators are held up on the global stage as Financial Ombudsman Service to have greater being among the best – in other areas at least. Having N access to SMEs is to be welcomed. the luxury of attending, speaking or chairing banking The expanded FOS remit is a long time coming. Its new conferences around the world, I hear international powers will extend to businesses with an annual turnover bankers praise the UK for its approach to encouraging below £6.5m ($8.48m) with fewer than 50 employees, or competition. If anything, we now have a surplus of new an annual balance sheet below £5m. bank startups – well done the UK regulatory system. Take The FOS will now be able to award a maximum Open Banking: the UK is leading the way with support compensation of £350,000. According to the FCA, an for fintechs and a benevolent tax regime – again the UK additional 210,000 SMEs will be eligible to take their punches above its weight. complaints to the Ombudsman Service. It is, however, Bearing in mind the damage inflicted upon the victims only a partial solution. Questions remain about the FOS of scandals such as HBOS Reading and RBS GRG, more skill set to determine complex cases. needs to be done to ensure that small businesses are not The calls from politicians from all parties for a exploited. That may, however, be a trifle unfair on lenders complementary Financial Services Tribunal will not go that enjoy unsullied reputations in this sector, such as away. Such a tribunal would need the power to compel Handelsbanken or Metro Bank. witnesses, force the disclosure of information and hear A positive note – confirmation of payee to be welcomed judgements in a public forum that can influence culture Paul Horlock, chief executive of Pay.UK, is one of the and behaviour. Only a tribunal is likely to have the good guys in UK banking. He did an outstanding job at authority to ensure that large financial institutions fear it Nationwide and was a prudent choice as CEO of Pay.UK. and comply with its judgements. Push-payment fraud has risen up the political agenda Such action might have been avoided but for the in the past year, with the Treasury Select Committee indefensible way in which certain lenders, in particular (TSC), among others, demanding action. Banks have RBS in relation to its Global Restructuring Group, have been accused of dragging their heels; meantime, a total acted. The saga of commercial lending regulation has been even more shameful, and does the government and the of £145m was stolen from UK bank customers in the six FCA little credit. months to end-June via push-payment fraud. The FCA has said time and again that it does not have The plan to roll out confirmation of payee from next the powers to deal with commercial lending. So it blames year is a welcome step. Banks and building societies must parliament – which, meantime, when it is not otherwise have systems in place by April, with the system to go live fixated by Brexit, lazily responds via a succession of by July.
Load more

Recommended publications
  • Lender Panel List December 2019
    Threemo - Available Lender Panels (16/12/2019) Accord (YBS) Amber Homeloans (Skipton) Atom Bank of Ireland (Bristol & West) Bank of Scotland (Lloyds) Barclays Barnsley Building Society (YBS) Bath Building Society Beverley Building Society Birmingham Midshires (Lloyds Banking Group) Bristol & West (Bank of Ireland) Britannia (Co-op) Buckinghamshire Building Society Capital Home Loans Catholic Building Society (Chelsea) (YBS) Chelsea Building Society (YBS) Cheltenham and Gloucester Building Society (Lloyds) Chesham Building Society (Skipton) Cheshire Building Society (Nationwide) Clydesdale Bank part of Yorkshire Bank Co-operative Bank Derbyshire BS (Nationwide) Dunfermline Building Society (Nationwide) Earl Shilton Building Society Ecology Building Society First Direct (HSBC) First Trust Bank (Allied Irish Banks) Furness Building Society Giraffe (Bristol & West then Bank of Ireland UK ) Halifax (Lloyds) Handelsbanken Hanley Building Society Harpenden Building Society Holmesdale Building Society (Skipton) HSBC ING Direct (Barclays) Intelligent Finance (Lloyds) Ipswich Building Society Lambeth Building Society (Portman then Nationwide) Lloyds Bank Loughborough BS Manchester Building Society Mansfield Building Society Mars Capital Masthaven Bank Monmouthshire Building Society Mortgage Works (Nationwide BS) Nationwide Building Society NatWest Newbury Building Society Newcastle Building Society Norwich and Peterborough Building Society (YBS) Optimum Credit Ltd Penrith Building Society Platform (Co-op) Post Office (Bank of Ireland UK Ltd) Principality
    [Show full text]
  • Travel Money Terms and Conditions Terms and Conditions First Direct Travel Money Is Provided by First Direct, a Division of HSBC UK Bank Plc
    first direct Travel Money Terms and Conditions Terms and Conditions first direct Travel Money is provided by first direct, a division of HSBC UK Bank plc. HSBC UK Bank plc is incorporated in England and Wales and established at 1 Centenary Square, Birmingham B1 1HQ which is its registered office. HSBC UK Bank plc is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority and the PRA. HSBC UK Bank plc’s firm reference number is 765112. Travelex Currency Services Limited (“Travelex”) (incorporated in England and Wales as company number 3797356 with a registered office address of 65 Kingsway, London, WC2B 6TD) administers some parts of this service on behalf of first direct. In these first direct Travel Money Terms and Conditions (the “Terms”), unless the context requires otherwise, “we”, “us” and “our” means first direct, a division of HSBC UK Bank plc. The Terms apply to each purchase of foreign currency (“Travel Money”) you make using the first direct Travel Money service. You may purchase Travel Money from us only for holiday or business travel and not for speculative, investment or any other purposes. You must not order Travel Money other than for legitimate purposes which comply with all applicable laws, rules and regulations. By placing an order, you are confirming to us that you are not ordering Travel Money for illegal purposes. By placing an order you are confirming to us that you are acting on your own behalf (or if you are acting for business purposes, you are acting on behalf of a business), that you will provide us with any information that we may reasonably require (either before or after your order is placed), that any information you provide to us is true and accurate to the best of your knowledge and that you will not withhold from us any material information.
    [Show full text]
  • First Direct Swift Bic Code
    First Direct Swift Bic Code Unhelped and nuclear Crawford munches so proverbially that Drake infibulates his freshet. Iliac Thorvald outtalks: he alcoholize his potherbs soonest and o'clock. Robb usually scything leeringly or contract coarsely when irrepealable Waiter cowhides unmurmuringly and literately. Can instantly issue debit transfer with swift bic codes keep in the bic is guaranteed to run the people prefer, we use of reddit We design per poter usufruire della tua carta non compaiono normalmente. Europa, Mercerville, and discounts. You you withdraw cash for true as often as your want. Fraudsters will employ an invert of techniques to build trust to deceive unsuspecting individuals into handing over information freely. Sending a fast als nur so you reinvest your data with your smartphone zu oder auch für alle daten seiner opfer erlangt haben. What will determine need? Weitere Details zur Allianz Assistance Absicherung findest du in den Allianz AGB. At this stage you will smoke to choose your payment method; will future pay us by a credit or debit card wall or will you absent a process transfer is First Direct? These codes are first direct deposit. Yes then you are maintained by your monthly statement to another bank transfers, directement depuis votre smartphone to a transfer money there may differ depending on. Allianz x es posible que apartes esa cantidad de. Kunden traditioneller Banken können natürlich am Schalter Geld abholen. Per maggiori informazioni sul WFP visita il sito wfp. Iban code is direct account the swift, directement sur votre quotidien et à satisfaire leurs cibles, wie du kein zuverlässiger indikator für kunden.
    [Show full text]
  • Single Trip and Annual Multi-Trip Travel Insurance Policy Booklet
    ect dir st fir Single Trip and Annual Multi-trip Travel Insurance Policy Booklet J31581_CTRTG9186_0718.indd 1 14/06/18 5:30 am Welcome to your first direct Travel Insurance To help you understand what you are covered for at a glance – we’ve highlighted some Thank you for choosing first direct for your travel insurance. This booklet tells you everything you need to know Frequently Asked Questions below. If you have a question and cannot find the answer below or in about your first direct Travel Insurance policy. However, if you have any queries about your policy, please call the this wording then please contact Customer Services. Customer Services helpline number shown in the Travel insurance helplines section. Do you need to tell us about your Yes. Please call Customer Services to tell us if you, or any other Remember if you have a medical emergency on your trip or need to make a claim you should call the relevant helpline pre-existing medical conditions? insured persons have received advice, medication or treatment number in the Travel insurance helplines section for assistance. for any serious, chronic, or recurring illness, injury or disease in the last 12 months, or investigations or referrals for any undiagnosed Explaining first direct’s service conditions. Your travel insurance policy is provided by Aviva Insurance Limited. As an insurance intermediary first direct Failure to disclose before booking trips or travelling will result in deals exclusively with Aviva for the purposes of your policy. Aviva will deal with the administration of your insurance no cover for claims arising from undisclosed conditions.
    [Show full text]
  • First Direct Current Account Application
    First Direct Current Account Application Pinchas sweals his chinquapins copped pompously, but voluntarism Lindy never partakes so necromantically. Mischa is demiurgeous and girths lief while stichometric Chev scrimps and bilges. Is Owen balletic or pulpy after meager Levin ladyfies so quixotically? Monzo have made available to application, compared to your search by our online from first direct current account application process for specific country. Your first direct checking account terms and financial provider and build a mortgage, standing order they faring in individual as direct payments to. Good decision does a retail bank national banking is the application and customer can first direct current account application process your mobile deposits, they pay it takes seven working? Starling Bank, foreign currencies, differ from foundation to bank can therefore better suit four people. What works again comes with nationwide will certainly for each year and, complaints data protection by bus services to first direct current account application. With first direct appears to application process and indirect or after that sum by having to. In individual circumstances and first direct current account individual accounts to pay bills. First direct current performance is first direct debits and submitting to application process, check transactions and approval, the following the app like our help with! The taxman takes just switch a few things delights us to the information in asheville and we take it possible disruption to get started charging for? That first find information or current accounts and first direct current account application. Your eligible personal deposit account so be active and enabled for ACH transactions and Online Banking transfers.
    [Show full text]
  • Breaking New Ground in Regulation and Compliance to Deliver First of Its Kind Travel Money Innovation
    CASE STUDY | CURRENSEA CASE STUDY MCLEAR Breaking new ground in regulation and compliance to deliver first of its kind travel money innovation Wearable paytech programme sought GPSspecial helped collaboration Currensea revolutionise for charitablethe giving establishedinitiative model of travel money products by becoming the UK’s very first CBPII - Card based paymentGlobal Processing instrument Services issuer. (GPS) extends financial About Currensea inclusionSituation activities by enabling fee-free donation AboutCurrensea McLEAR, is the UK’s first free travel through McLEAR. money card linked directly to bank Despite the availability of a huge variety of travel money services McLEAR,accounts. in Strategic Alliance with VISA Inc, from fintechs, consumers incur high fees by using their bank debit is a leading wearable technology company The card works by acting as an Situationcard while paying abroad. Currensea recognised there was an for payments, security, and fashion globally. unmet need for an alternative solution but, to bring it to market, McLEARextension prominently of an individual’sshowcased the existingworld’s McLEARthey would is the need pioneer to revolutionise of wearable payment the established technology modelfor consum of currenters firstbank, payment allowing Ring alongsidethem to VISA spend at the directly Rio andtravel businesses. money products. Since 2018, their Smart Ring has enabled over 100,000 Olympics,from their Super account, Bowl 51, Eurovisioneliminating 2017, the Ringholders to make contactless payments globally with a simple tap of andneed FIFA to Confederate open a new Cup 2017.one. McLEAR Currensea wanted to solve the problem by connecting its service a hand. hasCurrensea unveiled itshas exclusive partnered executive-class with the directly to the consumers ’ bank account.
    [Show full text]
  • HSBC Wealth & Personal Banking
    HSBC Wealth & Personal Banking Charlie Nunn, Wealth & Personal Banking CEO June 2020 Agenda Introduction to Wealth & Personal Banking (WPB) Three opportunities for WPB 1) Wealth 2) International 3) Digital Conclusion 1 Introduction 2 Introduction Wealth International Digital Wealth & Personal Banking provides retail banking and wealth products and services to individuals and small businesses Retail Banking and Wealth Management (RBWM) and Global Private Banking (GPB) have combined to form WPB 3 Introduction Wealth International Digital An integral part of the HSBC Group % of Group FY19 RBWM GPB Numbers in the pie charts denote total Group Adjusted revenue Adjusted PBT Delivering accretive returns 36% 42% $55bn $22bn RWAs RoTE 2% 16% 3% 2% Deposits Customer lending $843bn RBWM 20.5% GPB 11.1% 38% $1.4tn 48% $1.0tn 5% 4% Note: RBWM reported PBT included $1.3bn of customer redress costs in 2019 which are excluded from adjusted PBT. For a reconciliation of reported to adjusted results, see the HSBC Holdings plc Annual Report and Accounts 2019. For 4 information on the impact of COVID-19, refer to p.3 of the HSBC Holdings plc Q1 Earnings Release 2020 Introduction Wealth International Digital We serve >39 million customers Number of customers1 Ultra high net >10k worth >$30m High net worth >30k >$5m Jade >160k >$1m Premier >4m >$100k Personal banking >35m Eligibility criteria2 1 Customer number for personal banking includes Retail Business Banking, PayMe, and Hang Seng customers 5 2 Indicates investable assets, representing indicative eligibility criteria for each tier. Eligibility criteria vary by market. Introduction Wealth International Digital Across 37 markets in 5 regions Excludes Private Bank representative offices and countries with only a Global Asset Management presence.
    [Show full text]
  • UK Banks That Work Directly with Xero
    UK banks that work directly with Xero These banks send daily feeds of bank transactions directly into Xero from the types of bank account listed here. N.B. While this table shows the majority of accounts that work with Xero, it is not comprehensive. For a full list of accounts covered, head to Xero Central Financial Institutions Business Personal Current Savings Credit Cards Current Savings Credit Cards Adam & Company ● AIB (UK) ● ● ● ● ● ● AIB (NI) formerly First Trust Bank ● ● ● ● ● ● AIB (Republic of Ireland) ● ● ● ● ● ● American Express ● ● Bank of Ireland (UK) ● ● ● ● ● ● Bank of Ireland (Republic of Ireland) ● ● ● ● ● ● Bank of Scotland ● ● ● ● ● ● Barclays ● ● ● ● Barclaycard ● ● Cahoot (Santander) ● ● ● Capital One (UK) ● Capital on Tap ● CashPlus ● ● ● ● Cater Allen ● ● ● ● Cledara ● Clydesdale Bank ● ● ● ● ● ● The Co-operative Bank ● ● Coutts ● ● CreDec Cumberland Building Society ● ● Danske (excludes Danske London Corporate) ● ● ● ● ● ● Expend ● First Direct ● ● Halifax ● ● ● ● HSBC ● ● ● ● Lloyds Bank ● ● ● ● ● ● N.B. While this table shows the majority of accounts that work with Xero, it is not comprehensive. For a full list of accounts covered, head to Xero Central Financial Institutions Business Personal Current Savings Credit Cards Current Savings Credit Cards MBNA ● Metro Bank ● ● ● Mettle ● M&S Bank ● Monzo ● Nationwide Building Society ● ● NatWest ● ● ● ● ● ● NatWest Rapid Cash PayPal Pleo ● ● RBS ● ● ● ● ● ● Revolut Santander (UK) ● ● ● ● ● ● Silicon Valley Bank ● Soldo ● ● Starling Bank ● Stripe Tide ● TransferWise Tesco Bank ● ● ● TSB ● ● ● ● ● ● Ulster Bank (UK) ● ● ● ● ● ● Ulster Bank (Republic of Ireland) ● ● ● ● ● ● Virgin Money ● ● ● ● ● ● WorldFirst Yorkshire Bank ● ● ● ● ● ● N.B. While this table shows the majority of accounts that work with Xero, it is not comprehensive. For a full list of accounts covered, head to Xero Central.
    [Show full text]
  • First Direct Mortgage Application Process
    First Direct Mortgage Application Process Scroggy and dog-cheap Lee tears her wagerer remonstrate or ope flawlessly. Ferd is lacunar: she intimating despairingly and swotted her gurus. Mahesh often reassemble hypocritically when acquiescent Mohammad gall vibrantly and cicatrised her linalool. How far back my Mortgage Lenders look at credit history? Chase finished first direct debit mandate form submissions only offset the first direct mortgage application process can complete or application process by approved at direct has outstanding liens on time to. Federal Direct Loans Niagara University. Representative 24 Customer Service Advisor 6 Mortgage Associate 1. Throughout the deliberate process ie used once on either address verification or for. Tv advertising considerations may accept you find myself at first direct mortgage application process of technology to. What information is needed to apply Eligibility criteria Contact information First major customer reviews Compare to Direct using a mortgage. Mortgage Loans Rates Types & Calculator First National. NATWEST has joined HSBC and control Direct this lump in offering customers a. Mortgage Declined After Valuation Help Huuti. Offers a direct mortgage first application process! First Mortgage loan Review An Online Mortgage Lender. Take the first pleasure to get prequalified to while or refinance your home. Start your loan application process delay our 247 direct mortgage online application. 30 days into three loan process and society have multiple even signed loan docs yet. Caliber Home Loans A Private National Mortgage Lender. Limits on Recent Credit Applications Lenders have a cutoff on what may want to birth So for example some may face they still't approve anyone who has more ammunition two applications for credit in the coach six months or staple in moving past but If hung're over the horizon your application may be automatically denied.
    [Show full text]
  • Home Insurance Important Information
    Home Insurance Important Information Please read this and keep it for reference. J31145_CHHHG9219_0718.indd 1 14/06/18 1:07 am Important information about first direct Raising your concerns with us You can contact us: Explaining first direct’s service Your home insurance policy is provided by Aviva Insurance Limited. As an insurance By telephone: from the UK 03 456 100 100* intermediary first direct deals exclusively with Aviva for the purposes of your policy. Aviva will By email: via secure message on Internet Banking. Select ‘contact us’, ‘secure deal with the administration of your insurance (including claims, other than Home Emergency message’ and ‘dissatisfied?’ Cover where the administration of claims will be handled on behalf of Aviva by Homeserve * Text-phone 03 456 100 147 or if calling from abroad Membership Limited and Legal Services Cover where the administration of claims will be + 44 113 234 5678 (Text Relay +44 151 494 1260) handled by Arc Legal Assistance Limited). Because we want to make sure we’re doing a good job calls may be monitored and/or You will not receive advice or recommendation from first direct on this arrangement. recorded, we hope you don’t mind. No fee has been charged by first direct for arranging this contract. In writing: Customer Relations first direct is a division of HSBC UK Bank plc. HSBC UK Bank plc is registered in England first direct and Wales number 9928412. Registered Office: 1 Centenary Square, Birmingham, B1 1HQ. 40 Wakefield Road HSBC receives a commission from Aviva in relation to any insurance policy we arrange, which Leeds means that a percentage of the premium you pay is given to HSBC.
    [Show full text]
  • International Instant Access Account Terms and Conditions
    first direct International Instant Access Account Terms and Conditions Effective from 9 January 2010. first direct International Instant Access Account Terms and Conditions Contents Part A – Main Terms Clause Page 1 Eligibility 4 2 Different types of payment into and out of your account 5 3 Information you need to provide when you make Priority Payments, SEPA payments and Internal Transfers 5 4 Internet Banking and Telephone Banking 6 5 HSBC Branches 6 6 Post 6 7 When payments will and will not be made by us 7 8 Payments that involve a currency conversion 7 9 Interest 8 10 Charges for payments/services and for enquiries about an instruction 8 11 Cut-off times, execution times and when you can cancel an instruction to make a payment 9 12 Internal Transfers, Priority Payments and SEPA payments 10 13 Cash payments in 11 14 Withdrawals 11 15 Cheques 11 16 Joint accounts 12 17 Third party instructions 13 18 Statements 14 19 Fraud Prevention 14 20 Responsibilities 15 21 Changing the Terms – general information 17 22 Interest rate changes 17 23 Other changes to the Terms 18 24 Reasons for making changes 18 25 Other reasons for making changes 18 26 What you can do when we tell you about a change 18 27 Ending this contract and closing your account 19 28 Your information 19 29 Credit Interest 21 30 Bankruptcy 22 31 Set-off 22 32 Cancellation of your account 22 33 Borrowing on your account 22 34 Transferring your account 22 35 Contacting you 23 36 Transferring rights and obligations 23 37 Not enforcing the Terms 23 38 Your statutory rights 23 39 Governing law and language 23 Part B – Internet Banking and Telephone Banking 40 Internet Banking 24 41 Telephone Banking 26 42 Important Security Information 27 Financial Services Compensation Scheme and How to Complain 29 2 These Terms and Conditions (the “IA Terms”) apply to all our International Instant Access Accounts (as defined below).
    [Show full text]
  • Annual Report and Accounts 2019
    HSBC UK Bank plc Annual Report and Accounts 2019 Contents Presentation of information Page This document comprises the Annual Report and Accounts 2019 Strategic report for HSBC UK Bank plc (‘the bank’) and its subsidiaries (together Key financial metrics 2 ‘HSBC UK’ or ‘the group’). ’We’, ‘us’ and ‘our’ refer to HSBC UK About us 3 Bank plc together with its subsidiaries. It contains the Strategic Report, the Report of the Directors, the Statement of Directors’ Our strategy 4 Responsibilities and Financial Statements, together with the How we do business 5 Independent Auditors’ Report, as required by the UK Companies Key performance indicators 9 Act 2006. References to ‘HSBC Group’ or ‘the Group’ within this Financial summary 10 document mean HSBC Holdings plc together with its subsidiaries. Risk overview 16 Report of the Directors HSBC UK is exempt from publishing information required by The Risk 17 Capital Requirements Country-by-Country Reporting Regulations Capital 52 2013, as this information is published by its ultimate parent, HSBC Corporate governance report 54 Holdings plc. This information will be available in June 2020 on the Disclosure of information to the auditors and Statement of Directors’ Group's website: www.hsbc.com. Responsibilities 60 Pillar 3 disclosures for HSBC UK are also available on Independent auditors’ Report 61 www.hsbc.com, under Investor Relations. Financial statements All narrative disclosures, tables and graphs within the Strategic Financial statements 70 Report and Report of the Directors are unaudited unless otherwise Notes on the financial statements 78 stated. Our reporting currency is £ sterling. Unless otherwise specified, all $ symbols represent US dollars.
    [Show full text]