Financial Services (105)
From Facebook like to interest rate hike
Fidor Bank from Munich promises their customers they will increase their interest rate depending on the amount of likes they get on their Facebook page. The rate will go up by 0.1% for every thousand fans, though the maximum increase is set at 1.5 per cent in 2012.
Why it matters
The bank is seeking to gain attention, especially from potential new customers via social networks. But apart from this, is this a good way of getting a real return on investment for both customers and the bank?
Cash machines with instructions in Cockney rhyming slang are now available in east London. People using ATMs will be asked to enter their Huckleberry Finn, rather than their PIN, and will have to select how much sausage and mash they want. The rhyming slang prompts will be available from five ATMs in east London for three months.
LookTel has created an iPhone app that allows for the visually impaired to know the amount of money that they are holding.