Boy found doors of closed bank open
February 17, 2008
Many banking customers in the North Yorkshire area may be experiencing concerns over their account security after on bank in the area was found to have left its doors open despite the fact that the bank was closed and staff had gone home. Luckily the discovery was made not by a hardened criminal looking to get hold of cash or sensitive data but by a five year old boy who spotted some toys that he wanted to play with inside the branch. Read more
Bank of England cuts interest rate
February 17, 2008
The Bank of England has announced that interest rates are to be cut to 5.25% following the latest Monetary Policy Committee meeting. The drop of 0.25% had been widely predicted by analysts and economists, although many have stated that the decision would have been a difficult one. Last month the majority of committee members voted to keep rates on hold amidst fears over rising inflation levels, but this month concerns over the slowing economy appear to have taken the front seat, hence the decision to cut rates by 0.25%. Read more
Many Brits overspent in 2007
February 15, 2008
Worrying data from a recent report suggests that last year over five million Brits ended up spending more than they earned, with some officials branding Britain a nation of spendaholics. The reports suggests that the spending of many Brits spiralled out of control last year, with a worrying number of people spending far more than they could afford to, often on unnecessary items and luxuries. Read more
Building societies enjoyed great success last year
February 15, 2008
A recent report has shown the level of success that many of the UK’s building societies enjoyed last year, with many consumers ploughing billions of extra pounds into these societies. Read more
Bank keeps savings rate on hold
February 15, 2008
Despite the 0.25% interest rate cut announced by the Bank of England earlier this week, the Icelandic online bank Kaupthing Edge has decided to keep its savings interest rates on hold at 6.5%, raising the bar for other financial institutions who are looking at lowering their savings interest rates as a result of the base rate cut. Read more
HMRC had to extend deadline for returns
February 15, 2008
At one of the most crucial times of the year for HM Revenue and Customs – the time when tax returns have to be filed – a system failure has resulted in HMRC having to extend the deadline for filing returns slightly. The usual date for the filing of returns either online or by post is 31st January. However, technical problems meant that many taxpayers that were trying to file their returns online at the eleventh hour were unable to do so. Read more
Avoid being the victim of credit card fraud
February 13, 2008
When it comes to credit cards consumers can look forward to a wide range of benefits, ranging from interest free credit and total convenience to flexible repayments and even a choice of rewards with some cards. However, there are also pitfalls to watch out for with credit cards, and one major concern for many people is the risk of credit card fraud. Read more
Experts predict cut in interest rates
February 13, 2008
Many economists are predicting that the Bank of England will be cutting interest rates this week following the Monetary Policy Committee meeting. It is widely predicted that the Bank of England will cut rates by 0.25%, taking the base rate from 5.5% to 5.25%, which will give borrowers on variable rate loans a little more breathing space. The Bank of England last cut the interest rate by 0.25% in December, but despite high expectations did not cut the rate in January due to inflationary pressures. Read more
Enquiry launched into energy industry
February 13, 2008
An enquiry is being launched into the competition levels amongst the UK’s energy giants, with a committee of MPs looking into whether consumers across the UK are paying too much for their gas and electricity usage. The Business, Enterprise and Regulatory Reform (Berr) select committee will be investigating whether there is enough competition amongst the major suppliers – a move that comes after four of the UK’s leading energy suppliers announced dramatic hikes in the costs of gas and electricity usage. Read more
Broadband switching needs to be made easier
February 12, 2008
Experts have stated that switching broadband service is too complicated a process and needs to be made easier, in the same way that it is with energy suppliers. According to some experts many consumers have found that switching broadband provider is a complication process, and campaigners have called for broadband switching to become as simple as switching energy providers has become over recent years. Read more