Squirrel have announced
the FCA has approved a partnership between Squirrel and London Capital Credit Union. This means that ANYONE with a Squirrel account will have access to the credit union’s interest bearing savings products, and we can begin building out a full integration.
In short - This means we’ll be bringing interest to Squirrel savings goals!
https://www.crowdcube.com/companies/squirrel-financial-wellbeing-ltd/pitches/qByypb/updates/bkLk5q
Would a major bank leave the Link Network? No I doubt it as if one does I think they will all decide to go it alone.
Great no ATM’s would force those retailers that don’t take cards to finally get with the program. Close all of them suits me nicely.
Nooooooooo I can’t think of anything worse! No ATMs means a cashless society which is removing choice from the equation. Not to mention big brother but that’s a argument for another day.
Which was kind of my point. I think LINK is near collapse as demand for cash drops and banks look to stay relevant.
Yeah…I don’t see it happening not within the next decade anyway (in the UK).
I have no doubt a cashless society is what the powers that be want, so I have no doubt it will happen.
The major problem is that cash is accepted everywhere, card payments is not as universally accepted. If so then most independent retailers would want (as they do currently) a certain amount of spend before you can use a card to pay with so it’s really messy. Time will tell…
That’s going away as they won’t be able to charge fees from the 13th of January
I think you need to elaborate on your fees point as I am at a loss.
The common practice of ‘50p fee if you spend under £5’ is going to be
illegal. Some shops may just ban cards sure, but most will get rid of the
absurd fees.
Ah I gotcha. Most independents will still try it on or they will instead just ban card payments below the amount they would normally charge 50p for.
Some will still try it and will need people like us to promptly report them to their processor, MasterCard, their local council trading standards office, and in Internet reviews.
Some will ban small payments.
But watch, I firmly believe most will just remove the rip-off fees. Several places, including our student union have already removed them.
Haven’t heard the phrase “mail merge” since the 80s!
The logical move for Switch would have been to Mæstro Debit but by moving to MasterCard Debit it has given customers a functionality upgrade.
My Co-op Visa Debit is also branded LINK on the reverse. I see no reason for that to change in the short term.
Local pub charges 50p on any transaction. I grumble about it being illegal in January everytime I pay.
Can someone post an authoritative source stating the illegality of this practice, from January, please…?
Yes and actually cards where slowly but surely transfered to Maestro cards. (Who remembers the penguin adverts?) At that point Maestro was at the time and is now still owned by Mastercard. Either way all roads lead to Mastercard or so I thought at the time.
I doubt The Grauniad could spell authoritative. 
