TK hacked to the max

Millions of customers who shop at TK Maxx may potentially have been the victim of credit card fraud.

The store’s owner, US firm TJX, has revealed that a total of 45.7 million customers’ bank details have been stolen.

Information was taken from the computer systems in Watford, Hertfordshire and Massachusetts and the scam is being labelled the biggest case of card fraud ever.

A statement released by TJX said: “We suspect that customer data for payment card transactions at TK Maxx stores in the UK and Ireland has been stolen.”

“We suspect that these files contained payment card transaction data, some or all of which could have been unencrypted and unmasked.”

TJX has come in for criticism over the way it has handled the situation which it discovered in January.

At the time, the firm said the security breach had affected “substantially less than millions” of customers but today (March 30th) the true scale of the problem has been revealed.

Customers in the UK and Ireland are being told to look closely at bank and card statements to ensure that have not been targeted.

Dirty weekend is dead

The days of the dirty weekend appear to be fading away, with new research showing that most of us prefer to go away with friends.

New research by AA Insurance shows that 55 per cent of people in a relationship have gone on holiday without their lover, while 13 per cent admit they enjoy short breaks more when their partner stays at home.

The most popular reason for taking a break without our partners, cited by 22 per cent of those asked, is that we want to do an activity which our other half does not enjoy.

A further ten per cent say that they go away alone because they need some space.

“For many, mini breaks are a chance to have some time away from their partners and do things they wouldn’t necessarily do if their partner was with them,” said Clare Emsley from the AA.

The new partner-less mini-break has been dubbed a Clean Weekend and a number of insurance firms are offering special premiums for people taking this kind of holiday.

However, many people will find that it is far cheaper to get travel insurance for a couple than on an individual basis.

400,000 may not get paid

Hundreds of thousands of people may not receive their wages on March 30th because of a problem with the Bacs payment system.

The entire banking and payments industry is extending a sincere apology to those affected by this, through Apacs, the UK payments association.

As many as 400,000 people are likely to be affected by what is being called a software glitch which has caused the system to work more slowly than usual.

Banks up and down the country have been made aware of the problems and, according to Apacs, are working together with businesses to make sure that payments are made as soon as possible.

Apacs has stated that it expects everyone who has been affected to receive their next set of wages by Monday April 2nd.

Some customers are likely to be unable to withdraw money from their bank accounts over the weekend if they are relying on these wages for cash.

Customers are being told to contact their bank to ensure that any standing orders, direct debits or other payments will be made.

It is also worth contacting your bank to see if charges for going overdrawn as a result of the error will be levied against you.

Unnecessary vet visits cost £19m

Up to 49 per cent of emergency trips to the vet are unnecessary and British businesses are losing out on £19 million as a result.

According to insurance firm More Than, 37 per cent of all pet owners in the UK have taken time of work to take their animal to the vet.

The majority lied to their employer about what they were doing, with 58 per cent taking annual leave, while many said that they were ill.

However, More Than has discovered that almost half of these cases did not require an emergency visit to the vet, costing a combined £118 million.

In response to this, the insurer is launching a new service which it says is based on the successful NHS Direct.

The service is called Vetfone and it is hoped it will save pet owners time, money and worry.

“Pets are an important part of the family so when a pet becomes ill, many people don’t hesitate to take time off from work to rush them to the vet,” said Mike Holliday-Williams from More Than.

“MORE TH>N’s Vetfone will provide worried pet owners with 24 hour access to a qualified veterinary nurse who can advise them on the best course of action.

“We anticipate that Vetfone will save pet owners valuable time and money in unnecessary vet visits, and it will enable vets to focus time on the serious cases that need their expert skills,” he added.

Parents don’t talk to kids about money

Many of us have let our banking situation spiral out of control because our parents failed to talk to us about finances.

A new report by the Department for Education and Skills (DfES) highlights that few people aged between 16 and 21 regularly speak with our parents about money.

This has led to a number of negative effects, says the report, with 40 per cent of people in this age group not even knowing what APR means.

In addition, 25 per cent incorrectly believe that store cards offer better value than credit cards and the DfES puts this down to a lack of parental guidance.

One in three admitted that they do not discuss finances with their children and this is despite 83 per cent having concerns that their kids are running into debt.

The main reason behind the lack of communication is said to be a fear of appearing to be a nag (48 per cent), while many are put off by their child’s nonchalant attitude towards money (22 per cent).

The DfES is trying to tackle this by launching Talking Money, a campaign designed to promote financial conversations between children and their parents.

“While parents are happy to talk with their offspring about socialising, boyfriends and girlfriends or getting a job, it would appear that in many families money remains the last taboo subject,” said minister for higher education Bill Rammell.

“Talking Money is designed to raise awareness of the fact that financial help is available to cover the cost of higher education in the form of loans, grants and bursaries.”

1m drivers on brink of ban

More than one million Brits are very close to losing their driving licence as the UK’s roads become more closely monitored.

Research by Direct Line Car Insurance shows that 4.5 million drivers have points of their licence for speeding, with 21 per cent of these being just one conviction away from a ban.

That is a four per cent increase compared to 12 months ago and the insurance firm is concerned that many people risk losing their livelihood as a result.

Direct Line claims that 14 per cent of drivers could see their livelihood seriously affected by a driving ban and with 6,000 speed cameras currently monitoring the UK’s roads this is a real issue.

Around 92 per cent of motoring convictions handed out in the last two years were for speeding, with a collective £300 million being paid out in speeding fines in the last three years.

“With the advent of speed cameras and the introduction of points for being caught for driving using a mobile phone, we urge motorists not to break the law as they could face numerous consequences such as killing or injuring themselves or others, disqualification, job loss and financial loss,” commented Emma Holyer, Direct Line’s motor spokesperson.

The government has proposed a new law which will see drivers who are caught travelling at 10mph or less over the speed limit receiving a less severe penalty.

This has received widespread support from drivers and motoring bodies, with Direct Line saying that it gives the proposals its full support.

Brits unprepared for money crisis

Millions of us are not handling our banking very well, meaning that we are not prepared for a financial crisis.

According to Birmingham Midshires, a large majority of us are not putting money aside in preparation for a change in out circumstances.

The firm carried out research into the matter and found that a staggering 95 per cent of us fear we would be financially crippled if we had to care for an elderly relative in old age.

The unexpected birth of a child would also leave many of us struggling, with 86 per cent saying that they would not be able to afford to bring up a child.

Redundancy is another area of concern, with 80 per cent admitting to being financially unprepared should the worst happen.

London is the region that would be most affected by redundancy as 82 per cent claim that they could not support their family in the short-term without their regular wage.

“It is alarming that so many people could struggle if hit by a financial emergency or unforeseen cost,” warned Jason Robinson from Birmingham Midshires.

“We are concerned about people’s liquid wealth – the money that should be available to them in a financial emergency.

“Much is talked about the need for saving for the long-term, but without an accessible savings pot set aside for that rainy day, short-term financial costs can leave families with severe difficulties,” he added.

The best advice for building up your liquid finances is to put a little aside from each pay cheque and do not use it until necessary.

Mortgage aimed at FTBs

As first-time buyers (FTBs) struggle to get onto the property ladder a number of lenders are now releasing mortgages aimed specifically at them.

Earlier this month Nationwide announced that it had a fixed-rate 25-year mortgage to offer and now the Co-operative Bank is throwing its hat into the ring.

The firm is offering FTBs a mortgage which is designed to make the first steps onto the property ladder a little bit easier.

It comes with one per cent cashback, which will be helpful in covering stamp duty and any other costs that FTBs may incur.

In addition, the mortgage has a fixed rate of 6.29 per cent for five years and a free basic valuation.

Research by Co-operative Bank shows that many FTBs are still finding it extremely difficult to get onto the property ladder with cost being the main factor.

It is in response to this that the bank has chosen to release its latest mortgage.

“As house prices have continued to rise it is important that the lifeblood of the market – first time buyers – are given extra help to gain that all important first footing on the ladder,” said John Barker, head of mortgages at Co-operative Bank.

“At the Co-operative Bank we believe that new innovative mortgage products such as this should be developed to help alleviate some of the extra worry for first time buyers.”

FTBs are urged to make sure that they are completely aware of all costs before they enter into a mortgage agreement.

Drivers scared to turn right

Millions of us make a special effort to avoid turning right when driving.

That is according to new research from Churchill which found that many motorists are also afraid of joining the motorway and going onto a roundabout.

The insurance firm asked drivers what they most fear about getting behind the wheel, with 34 per cent of women and 29 per cent of men saying that they do not enjoy turning right.

These drivers are so afraid of what might happen that they change their route to ensure that they avoid ’scary’ situations.

Parking is another issue for many, with 43 per cent saying that they do not feel confident enough to park where they want, leading to 13 per cent of people having to walk further than is necessary.

“When motorists pass their driving tests, it doesn’t necessarily qualify them as a confident driver,” commented Frances Browning from Churchill.

“As our research shows, there are those who actively avoid certain driving manoeuvres, sometimes to the extent that they don’t drive on specific roads or at specific times.

“It may be worth undertaking a refresher course now and again to increase driver confidence and make the roads safer for everyone,” she added.

Taking a refresher course may not only help to instil more confidence in a driver but can also reduce car insurance premiums for many.

Car keys still being left on display

Many of us are running the risk of having our car stolen because we leave the keys on display in our homes.

Research by Saga Motor Insurance shows that one in ten are still not heeding the advice of insurers and police by failing to properly conceal our keys.

The majority keep them on a key rack which can be seen from outside the property, meaning the chances of becoming the victim of an opportunistic thief are greatly enhanced.

People aged over 50 are more diligent than those younger than them, says Saga, with 19 per cent ensuring that their keys are well hidden, compared to just 13 per cent of under 50s.

It means that people aged 49 and under are more likely to have their car stolen and be forced to make a claim on their car insurance.

“It might not be the first thing on your mind when you come home, but drivers should get into the habit of putting their keys somewhere out of sight, leaving them on display makes them an easy target for the opportunistic thief,” commented Andrew Goodsell, chief executive at Saga.

House keys are another issue, although people appear to be improving their safety procedures when it comes to this.

Saga found that nobody leaves the spare key under the doormat anymore, with 29 per cent leaving it with a friend or relative and 19 per cent keeping them locked away inside the house.

Next Page »