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Cash Use Falls Further in U.K. As Plastic Payments Rise

The value of purchases made by plastic now accounts for more than three-quarters of retail sales. Cash use fell a further 1 last year and now accounts for just 22 of purchases, according to the British Retail Consortium. But the switch to plastic hasn’t stopped Britons spending – there were almost 20 billion retail transactions […]

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Debit Card Glitch Means Thousands Charged Twice

Thousands of people in the UK were charged twice for debit card payments. The error occurred due to an issue with a particular card terminal run by Cardnet, a joint venture between Lloyds Bank and First Data. Money came out of bank accounts twice but transactions only showed up once on many shop, pub and […]

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UK’s ‘No-deal’ Brexit Plans Warn of Credit Card Fees

Brexit Secretary Dominic Raab has set out what he called practical and proportionate advice in case the UK leaves the EU without a deal. The guidance includes instructions for businesses who could face extra paperwork at borders and contingency plans to avoid medicine shortages. Britons visiting the EU could also face extra credit card charges.

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Bitcoin Buster? The Search for a More Stable Cryptocurrency

Cryptocurrencies – digital tokens known as cryptos for short – have investors in the grip of a gold rush fever, with billions being traded every day. Prices fluctuate wildly, making them high-risk investments.

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Bank Warning for EU Over Brexit Progress

The Bank of England says the UK has made positive progress on handling financial services risks around the UK’s departure from the European Union. But it also says there has been a lack of similar action from the EU.

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Virgin Money Bought by CYBG for £1.7bn

The owner of Clydesdale Bank and Yorkshire Bank, CYBG, has agreed to buy Virgin Money for 1.7bn.Under the deal, all the group’s retail customers will be moved to Virgin Money over the next three years.It will be the UK’s sixth-largest bank, with about six million customers, but 1,500 jobs are likely to go.

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U.K. Banks Close 2,900 Branches in Three Years

Branches are shutting at an alarming rate, says Which? About 60 bank branches are closing every month with RBS shutting the most, consumer group Which? has warned.It found that 2,868 branches will have closed between 2015 and the end of 2018, with the number accelerating this year.

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Banking by Mobile App ‘To Overtake Online by 2019’

Image copyright Getty Images More consumers will use apps on their smartphone than a computer to do their banking by as early as next year, according to forecasts.Last year, 22 million people managed their current account on their phone, industry analyst CACI said.

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Chat and Pay: How Social Media is Beating the Banks

Great night last night, how much do I owe you for the dinner? 25? Here you go. It’s a conversation most of us have had in person, but these days it’s happening increasingly on social media.The chat co

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