Jeff Salway: Familiar financial names are departing, but others are moving in

The process takes a step further next week, when the Abbey and Bradford & Bingley names start being replaced by that of owner Santander. The first Abbey branches will be rebranded on Monday, with the remaining Abbey and Bradford & Bingley branches following suit in the coming weeks.

The disappearance of more familiar names from the high street is often the cue for much wailing and gnashing of teeth.

This particular change will be widely welcomed, however. Santander's takeover of Abbey, Bradford & Bingley and Alliance & Leicester (which adopts the Santander brand last this year) has so far proved positive for customers, as Abbey is now significantly more competitive in some markets than it had been.

Like most demutualised building societies in recent years – including Northern Rock – Abbey and Bradford & Bingley flattered to deceive, with Abbey rescued by Santander in 2004 and the latter's savings arm and branch network snapped up by the Spanish group in 2008 when its mortgage book was nationalised.

Under Santander's watch Abbey has introduced the Zero credit card and the Zero charges current account (available to existing customers), both welcome innovations.

It has also become a bigger and more competitive player in the mortgage market, while Alliance & Leicester was the most consistently competitive mortgage lender during the fourth quarter of 2009, according to realpricecomparison.com.

There are concerns that the presence of an enlarged Santander brand, while offering competitive deals in a bid to gain further market share, will ultimately harm competition. The entrance into the retail banking market of at least three new competitors in the coming years – including Virgin, which took a step closer to the high street yesterday – should help keep the banking behemoths on their toes, however.

As always, customers need to be prepared to take the initiative if they find they are unhappy with the deals or the service they receive from any banking provider.

IF YOU'VE given the TV news even a passing glance this week you will have encountered a blizzard of motorway tailbacks, snowmen and stuck cars. But there has been little insight into the financial strain the freeze has put on households, particularly the elderly. It's estimated that about half of Scotland's pensioners live in fuel poverty and the adverse conditions have pushed many to breaking point. Scots pensioners are used to the cold and typically ration their energy usage, but many keep heating turned off altogether.

The icy conditions are set to significantly outlast those of last year, when there was a 49 per cent rise in excess winter deaths in parts of the UK. If ever there was a time for the energy suppliers to recognise their social obligations and introduce extra concessions for households struggling to pay their energy bills, it is now.

Gordon Brown this week claimed cold weather and winter fuel payments were helping. But it tends to be forgotten that for pensioners to be eligible for the payments, they need to claim pension credit – and nearly two million of those eligible do not. Similarly, most energy suppliers have social tariffs, but people need to apply for them to benefit.

The Scottish Government offers the energy assistance package, which includes advice and benefit checks and helps ensure people pay the lowest energy prices possible. For more information, call 0800 512 012 or visit www.energyassistancepackage.com