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UK Parents labelled “Piggy Bank Raiders”

| April 28, 2015

A third of parents in Britain (32 per cent) are secret piggy bank raiders, taking money from their children’s savings accounts to pay for something for themselves, according to new research from Santander. An unexpected bill was the most common reason (44 per cent) for raiding their children’s savings, but many also took cash to […]

17% of existing annuity holders would consider ‘cashing in’

| April 24, 2015

With the recent Budget having announced plans to consult on allowing UK retirees who have already purchased an annuity to cash-in their policy, new research has revealed that a large proportion of existing annuity holders will consider selling their guaranteed incomes for a cash lump sum. The Tilney Bestinvest survey, carried out by YouGov amongst […]

Santander proves the most popular for bank switchers

| April 23, 2015

The number of current account customers who switched banks in the last 12 months has jumped by 7%,with Barclays experiencing the biggest net loss of customers. The latest figures from the Payments Council reveal that 1.14 million customers switched bank up to 31 March, compared to 1.06 million the previous year, taking advantage of new, faster switching rules. Between […]

Higher overdraft charges for some RBS and NatWest customers

| April 17, 2015

Many RBS and NatWest customers face paying higher agreed overdraft charges after being automatically switched to current accounts with higher overdraft interest rates. Approximately 140,000 customers with money in seven old accounts that the bank no longer offers will be moved to its standard Select account, which has an overdraft rate of 19.89% EAR. NatWest charges a £6 monthly fee […]

Barclays customers could earn £144 per year with new Blue Rewards

| April 16, 2015

Barclays is to launch a paid-for new rewards scheme on Monday 20 April, called Barclays Blue Rewards. For a fee of £3 a month, customers who sign up will get monthly fixed cash rewards up to £15 depending on which Barclays products they hold. Blue Rewards members will also be eligible for cashback of up to 6% […]

Savers expect £13,100 income from their pension pot

| April 14, 2015

Retirement savers are targeting an average annual income of £13,100 from their private pension funds despite currently having just £59,000 in their fund, research from specialist over-55s provider Key Retirement shows. Its study shows the average over-45 retirement saver could be left disappointed – someone expecting a £13,100 income from their private pension savings would […]

Peer to peer lender Zopa returns £50m in interest to UK consumers

| April 10, 2015

Peer-to-peer lending platform Zopa  announced today that it has returned a total of over £50m in interest to UK consumers since launch in the same week it also passes £800m in total lifetime lending. Zopa has consistently delivered higher returns to consumers since it was set up 10 years ago with rates averaging 5.6% (after […]

Over half of people aged 65 or over have been targeted by fraudsters

| April 7, 2015

A new Age UK survey has found that 53 per cent of older people (aged 65+) believe they’ve been targeted by fraudsters, and that while many do not respond, of those who do 70 per cent of people of all age groups said that they had personally lost money. The research suggests that a third […]

Protect your garden from thieves and vandals

| April 7, 2015

New research from M&S  Bank reveals  that nearly a quarter of people with  a garden shed admit to leaving it unlocked, with more than one in ten saying  they  never  secure  it, despite the contents of a typical shed being valued at more than £570 Nearly a fifth of respondents revealed that their shed contained more than […]

No let-up in credit card best buy scramble

| April 2, 2015

The recent move by Virgin Money offering a 0% balance transfer card for 36 months has triggered the expected response from its competitors. Halifax and Lloyds Bank both increased interest free terms from 34 to 35 months with balance transfer fees of 2.80% and 3.00% whilst Sainsbury’s Bank upped its game to 34 months and […]