Personal Finance News

22 Jun

Motor insurance claims surge by a third following relaxation of lockdown rules

Motor incidents have increased by over a third (35%) in the last few weeks, according to Co-op Insurance’s claims data released today. With non-essential shops recently re-opening and as the Government advises people to walk, cycle or drive where possible, Co-op Insurance is anticipating a further surge in road traffic incidents. Whilst research from the insurer shows almost a fifth […]

17 Jun

Top Scams Revealed

NatWest reveals the top scams fraudsters are committing in the wake of the coronavirus pandemic. Purchase scams in which goods are offered for sale but then never actually delivered are on the rise. The number one purchase scam reported in May was for Nintendo Switches, closely followed by pet related scams and hot tub purchases. […]

15 Jun

Biometrics set to replace bank passwords

NatWest is developing behavioural biometrics technology which could replace banking passwords. Next year, an additional form of authentication will be required for some transactions when Strong Customer Authentication comes into force. However, the technology, which has been customised in partnership with Visa for the purpose of increased transaction security, could replace passwords and helps to […]

9 Jun

Covid nightmare for retailers as consumer spending drops 26.7 per cent year-on-year

Data from Barclaycard, which sees nearly half of the nation’s credit and debit card transactions, reveals that spending on essential items grew slightly by 0.9 per cent. This was bolstered by a 24.5 per cent rise in supermarket spend – which increased to 27.0 per cent in the week preceding the VE Day weekend as […]

2 Jun

Co-op launches free service to help families deal with a late loved one’s affairs

Co-op Legal Services has today launched a Bereavement Notification and Advice Service to help people deal with a late loved one’s affairs. Recognising the demand and unexpected loss people are facing due to the Coronavirus outbreak, the unique service will mean bereaved people can access help informing financial institutions, stopping junk mail and logging off social […]

1 Jun

Contactless payments have become the “new normal” across the UK

As Mastercard reveal that 66 per cent of all transactions across the UK are now contactless, new research released identifies consumer habits and viewpoints that mean this is a consumer change that will stand the test of time. In the UK contactless adoption was already high and Mastercard has recently worked with the industry to […]

26 May

1.5 million people plan to delay retirement because of Covid-19

1.5 million workers aged over 50 will delay their retirement as a direct result of the Covid-19 pandemic, according to new research from Legal & General Retail Retirement.* However, the retirement provider has suggested that worried households could benefit from a review of their savings before assuming they will need to delay. According to the […]

26 May

5.2 million UK adults either a victim or know someone who has fallen victim to a scam since the outbreak of Covid-19

One in ten (10%) UK adults (5.2 million people) have either fallen victim to a financial scam since the Covid-19 pandemic, or knows someone who has, according to new insight from financial services firm Canada Life. The company is warning that people need to be constantly vigilant as fraudsters are preying on the nation’s current […]

19 May

Easyjet data breach – tips from credit report experts

Commenting on the easyJet data breach, Alastair Douglas, CEO of finance experts TotallyMoney, said “This data breach could be a serious problem for the 9 million easyJet customers concerned — especially since the credit card details of 2,208 customers have been stolen. “The first point of action for anyone concerned about fraud is to check your […]