After some cause for optimism at the end of 2018 following a Bank of England rate rise to 0.75 per cent, the arrival of Goldman Sachs’ Marcus Bank and competition in the fixed-rate market, things went into reverse this year. At the start of 2019, the best one-year fix paid 2.05 per cent, the best … Read more
Money Mail stands ready to go into battle on your behalf. But wouldn’t it be better if we could avoid those scams and pitfalls that dog our everyday activities? We’ve put together 50 tips to equip you with the 2020 vision needed to avoid traps that catch less wary consumers. Here we highlight the worst … Read more
If your children or grandchildren received cash for Christmas, now could be the perfect time to help get them into the savings habit. Whether you invest on their behalf or encourage them to open their own bank account, a lesson in budgeting and saving is a gift that will last a lifetime. Here, Money Mail … Read more
This year will see the Olympics head to Tokyo and with it, a new coin from the Royal Mint. It has unveiled several new coin designs which will appear throughout 2020, with the most notable one commemorating Team GB. However, in order to get access to obtain the coin – which will likely spur interest from … Read more
New year, new bank account? HSBC’s £175 switch bribe returns and its sibling First Direct also offers £100 once more HSBC’s Advance and Premier accounts offer £175 to switchers Its basic account pays £75, while First Direct has brought back its £100 offer Those after a current account switch bribe have some choice once more … Read more
New Bank of England chief set to axe Mark Carney’s rule on bank rates Andrew Bailey was private secretary to former bank governor Eddie George Carney said the forward guidance rule reduced uncertainty among business Bank watchers expect Bailey to act more conventionally on monetary policy By Dan Atkinson For The Mail On Sunday Published: … Read more
As worries about access to cash grow, in October the country’s largest ATM operator Link unveiled a scheme which would allow communities to make the case as to why they needed a cash machine. Link announced last week it had received 2,700 requests since the scheme started, 40 a day – and another £4million has … Read more
It’s unlikely switching savings accounts will top your list of New Year’s resolutions, but doing so could result in far better interest. A large number of savers have left money languishing in accounts with some of Britain’s biggest banks and building societies which pay pitiful rates of interest. Some of these accounts are closed, meaning they … Read more
Savers docked £9million in just 19 months for taking money out early from Lifetime Isas – leaving them with less than they paid in Figures reveal £9.04m penalties incurred between April 2018 and this October Of the fines, £4.69m has been racked up in just seven months of this tax year Money from a Lifetime … Read more
The sale of anti-virus computer software is creating a new scam – with some unscrupulous providers dipping into people’s bank accounts or credit cards literally for ever. Victims have no idea money is being taken and, incredibly, might not even own a computer. Preying on our fear of being targeted by cyber criminals, security software … Read more
Entrepreneurs ‘ruined by HBOS fraudsters’ take Lloyds to court Two entrepreneurs have launched multi-million pound claims in the High Court Lloyds has pledged to reopen compensation claims relating to HBOS Reading Both the Gary Wells and Joanna Dove legal claims were filed earlier this year By William Turvill For The Financial Mail On Sunday Published: … Read more
He’s the City grandee who has spent half a century in the Square Mile, run an investment bank, chaired five FTSE 100 companies, battled troublesome hedge fund investors, overseen multi-billion pound mergers – some which fell through – and steered Royal Mail through privatisation. But Sir Donald Brydon says putting together his radical review of … Read more
Are you due a refund from RBS? Bank to pay back £40m to thousands of customers it overcharged on foreign exchange rates for years The bank incorrectly upped FX rates by 0.06% between 2010 and 2014 After an internal review the bank identified 730,000 affected customers The average payout is £54.80 but one business will … Read more