Personal Finance NewsA 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 […]
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 […]
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 […]
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 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% […]
Scottish Friendly has called for the issue of formal ‘think again’ warnings to be issued to customers wishing to cash in all or part of their pension when the new pension freedoms take effect next month. The savings and ISA provider says that guidance alone from bodies such as Pension Wise and Citizens Advice is […]
Up to one million people nearing retirement age still owe money on their mortgage, according to a new report. The latest research from LV= looking at the finances of retirees reveals that less than one in four over-50s were planning to seek professional financial advice before they retire. These numbers are worrying ahead of the […]
Mobile phone giants O2 and EE are hitting customers in the pocket with a 1.1% price increase. The hike in prices comes just over a year since the regulator OFCOM ordered mobile phone providers to allow customers to exit their mobile phone contract without paying any penalty if the cost of monthly their monthly tariff […]
Three-quarters of UK adults – approximately 38 million people – worry that they aren’t saving enough money – yet many admit to wasting significant sums each month according to research by Standard Life. The average UK adult ‘wastes’ £52 per week, money which they feel could have been ‘saved or better spent’ – totalling £2,704 […]