moneysaving

How the banks are betraying start-up firms just when we need them most

by

Britain’s banks have been accused of ‘sending a terrible message’ to entrepreneurs by leaving new business account customers out in the cold. Many High Street giants stopped offering business accounts at the start of the pandemic, claiming they wanted to focus on existing customers.  But while some have finally started accepting applications again, wildly divergent … Read more

Child Trust Fund proposals offer hope to families of disabled children

by

The parents of as many as four in five disabled children currently unable to access their Child Trust Fund savings may no longer have to go to court to get access to the money after a way of avoiding the costly and time-consuming process was greenlit by savings providers. A majority of Child Trust Fund … Read more

Record amounts of money pulled from cash Isas in second half 2020

by

In at number 5 and dropping two places, it’s Coventry Building Society with its instant access Isa. At number 4, it’s a new entry for Santander and its bonus reward Isa. At number 3, it’s… Okay, I’ll stop. I’ve been watching far too much Top of the Pops 2 on BBC Four during lockdown, but … Read more

Britons trying to make overseas payments find them blocked after Brexit

by

Britons trying to pay overseas direct debits and send money to banks and companies in Europe are having their transactions blocked as Brexit continues to cause hurdles and headaches. Those trying to send money abroad now have to provide an additional layer of detail when making payments as the UK is now classed as a ‘third … Read more

Five families reveal how they’re going to spend lockdown savings

by

As lockdown life continues to take its toll, there is a silver lining for some, at least. With nowhere to go and nothing to do, there is little for us to spend our money on — and many people’s bank balances have received a welcome boost. Bank of England figures this week revealed that families … Read more

How Covid has been the nail in the coffin for many local bank branches

by

Industry veteran: Tony Foot started his bank career in 1964 When Tony Foot started his bank career in 1964, there were a handful of branches in every town and the manager knew all their customers by name. Here, the 74-year-old retired bank manager explains why we all lose out when banks close their doors… During … Read more

Savings have beaten investing with every High Street lender since 2011

by

Why you can’t always bank on shares: Savings have beaten investing with every High Street lender since 2011 By Ben Wilkinson for the Daily Mail Published: 22:00 GMT, 2 February 2021 | Updated: 22:00 GMT, 2 February 2021 Savings rates with the big banks are dire, and have been for more than a decade now. … Read more

Why was I left waiting for a £5,000 transfer from Barclays for months?

by

A Barclays customer was left without £5,000 for months after the bank closed a dormant savings account last March but simply failed to hand her back the money until January. Loretta Marshall, not her real name, from Worcestershire, had a savings account with the bank which went dormant last year after she had not touched … Read more