Money

If you are unable to get a bank account or quite simply don’t want one, you can try some of the alternative options listed below, but they are not cheap and not available to all.   Credit Unions Some credit unions in the UK now offer bank accounts but they usually have a charge of £2 to £5 a month or they require you to commit a certain balance. In some cases, these cards come with store discounts or cashbacks which can allow you to offset this charge. Post Office Card Account A Post Office Card Account is usually used by those who are in receipt of Government Benefits, tax credits or pension and don’t have a basic bank account into which the funds can be deposited into. You can’t open these types of accounts directly and so you need to contact the office which pays the benefit. A Proof […]

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The Financial Ombudsman, which helps resolve disputes between finance companies and customers, warned of fraudsters trying to trick customers into handing over personal financial information. In some cases they are even able to make the Financial Ombudsman Service’s number appear on the phone making it difficult for victims to spot the fraudsters. The FOS does not communicate with customers without a reason and ask for personal information. They only contact customers who have registered a complaint with them and will only speak about the compliant too. Please note the FOS service is completely free and hence will never ask for money. What shall I do if I have been contacted by the fraudsters? If you have any doubt about the conversation you have had with someone from the Ombudsman’s office, simply call on 0800 023 4567 to verify. Also if you have given out any personal financial information which you […]

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Sainsbury credit card customers are currently unable to see their recent card activity and there is no eta provided on when the issue is expected to be resolved. Compounding the matters, Sainsbury phone lines were down making it hard for customers get a solution. Nonetheless, credit card customers can now call the Free automated service on 08085 405060 and select option 2 to get the details on the last 5 transactions. A spokesperson from Sainsbury’s Bank apologies by saying, “We’re very sorry some our credit card customers experienced delays getting through to us on the phone this week, and also while we make improvements to customers seeing online transactions. “Customers can call us for their transaction history through our automated self-service option by speaking to an advisor.” FreePriceCompare is a hassle free, independent and impartial comparison services provider which looks to get the best for its customers. To see which […]

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In a report published by the FCA it was identified that around 30,000 mortgage holders are unable to move on to cheaper deals despite taking out their mortgage before the 2008 financial crisis and making every payment. Another 120,000 are unable to move on to cheaper deals as their current provider is not authorised to offer new mortgage deals. The reason behind these ‘mortgage prisoners’ is the EU ruling known as the Mortgage Credit Directive which has strict affordability checks for anyone getting a mortgage even if individuals already have a mortgage and want to go to a cheaper one. Comments from the Treasury Committee Rushanara Ali, Labour MP, Thanked the FCA for the hard work in getting the interim report together but felt things are not moving along quick enough. She commented, “There just doesn’t seem to be a sense of urgency. I recognise you have done a lot […]

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Are you planning to sell your home? Is it getting really difficult to attract buyers for your home? Well, if that is the case then you can apply certain tried and tested measures that would enhance the features of your home and in turn pull more buyers towards the property. In order to create a good first impression, you need to make your home more ‘presentable’ as well as facilitating. This would increase the chances of getting noticed by prospective buyers and hence lead to a good sale. Tips to create a home that attracts more buyers: Create unique landscaping: This step is to create an attractive ambience that blends well with the surroundings. If you augment the house with beautiful landscaping and clean surroundings then there are chances of it getting noticed without much of an effort. Any potential buyer can spot your place even while checking the neighbourhood. […]

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Around 500,000 people across the UK have been saved from overpaying car finance loans and payday loans thanks to quick action by the Financial Conduct Authority (FCA). The watchdog found proof of unfair practices by Motormile Finance UK, the company that is charged with poor treatment of consumers and their finances. The FCA has asked Motormile Finance UK, which also trades as MMF, MMF Debt Purchase and MMF UK, to write off the £414m of customer’s debt as the company failed to verify that the sum of money owed was correct. This was leading to unfair and unsuitable customer contact for recovery of those sums. This in turn affected around 500,000 people and now the FCA has taken the responsibility of writing off loans under the redress programme. The debt is expected to run into hundreds of pounds per person. An arrangement of repayment would be made for the cases […]

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