Banks leave customers in "dire poverty"
Filed under: Credit Cards, Financial Crisis, Debt
High Street banks have come under fire for placing some customers in "dire poverty" by taking money out of their current accounts without permission.
Known as "setting off", the practice is totally legal and involves the banks moving money between a customer's accounts – rather than stealing it. But debt campaigners claim that it is still leaving some cash-strapped Britons with no money for real day-to-day essentials, including food.
If you are having trouble being approved for credit cards and other financial products, it's almost certainly because you have a poor credit score. 
The despair caused by being in debt makes 30% of Britons with severe financial difficulties consider self-harming, or even committing suicide, shocking new figures reveal.
The Co-operative Bank - Britain's only mainstream ethical bank - is cutting the interest rate on its 'Clear' card. To qualify you must have an account with the Co-op.
The typical British tourist returns from their travels with leftover foreign currency worth about £30, according to new research from Visa Europe.
It's a long time since anyone could have been accused of throwing money at us, but after a new study, there are concerns that the banks are tempting us in with recklessly designed credit cards, which are structured in such a way that they are far more likely to build up problem debts.
Only one in five of us would hand in, or try to trace the owner of a lost wallet, according to research from life assistance and identity protection company CPP. With approximately a million wallets lost each year, you have just a 20% chance of getting yours back. 
One in four Britons would lick the pavement for £400, while more than a half would happily wait in a queue for four hours to claim the free cash, new research shows.
Consumers are sticking up two fingers at the downturn and splashing out on their credit cards again.
Anyone on the lookout for a new credit card deal at the moment is in luck thanks to the recent launch of market-leading new 0% balance transfer and purchases offers from NatWest/RBS and Tesco.
NatWest and RBS have launched a table-topping 0% balance transfer deal of 16 months on their Platinum credit card. Which? credit card expert Martyn Saville said: "The new deal from NatWest and RBS is excellent news for consumers with a balance on their credit card that they're keen to transfer to a 0% deal."
As a nation, we are set to borrow more than £12 billion to fund our summer getaways, according to new figures from insurer Bright Grey.
Cash is still king for Brits abroad, new research from Halifax shows, with more than 30 million British travellers keen to avoid foreign exchange fees on overseas transactions choosing to change their holiday currency in advance rather than rely on their plastic.
We all know that life has changed a lot since the 1970s. We're not all wearing flares and putting in avocado bathroom suites for a start.
UK banks and building societies wrote off loans worth £9.6 billion during the 12 months to the end of March 2010, according to figures from debt agency Credit Action.
