The collapse of the Icelandic banks – how it’s affected us

Earlier this month the already chaotic financial markets were thrown into even more turmoil with the Icelandic banking collapse. Consumers, businesses, and charities were horrified to learn about the collapse, and many feared that they would lose their money. In some cases it seems that they may have been right to think that. Over the past couple of years many businesses, authorities, charities, and consumers have been rushing to Icelandic banks to invest their savings, with accounts such as Icesave and Kaupthing Edge offering high interest rates on savings in order to attract new customers.

However, the joy of these savers, who thought that they were making huge returns on their money, was to be short lived. Read more

Tags: Icelandic banks, month, savings, UK branches, iceland banks, period, The government, case

Taking care of your savings

With all that has happened in the banking industry over the past year it is little wonder that consumers are so nervous about where to put their hard earned money when it comes to savings accounts. This time last year saw Northern Rock go through its crisis, and many people flocked to withdraw billions of pounds worth of savings from the bank before it was eventually nationalised. Many other building societies and banks benefited from this situation, as consumers tried to find alternative places to put their savings. Read more

Tags: savings, uk, uk consumers, haven, safe place, thing, something, lloyds

Increased safety for money of Post Office savers

As a result of changes to the Irish banking system some savers in the UK, including those with Post Office savings accounts, will see their savings guarantee almost double compared to that of savers with other financial institutions. Post Office savers will be offered a safety net of up to almost £80,000 on their savings. Also included will be savers that have money with UK branches of Irish banks, such as Anglo-Irish Bank and the Bank of Ireland. Read more

Tags: chancellor of the exchequer, Alistair Darling, post office, meantime, Anglo, savings, post

Savers worry about where to put their cash

The world of finance has been thrown into complete turmoil over the past year, not just for borrowers and lenders but also for those looking for a safe place to stash their hard earned cash. It seems that until around this time last year we all had a pretty good idea of where we wanted to put our cash in order to make it work for us, but since the chaotic situation with Northern Rock threw the banking world into turmoil many of us have no idea what to do with our savings, and seems to be running from one bank to another clutching our precious cash in the hope that we will finally find a safe resting place for it. Read more

Tags: savings, icesave, post office, northern rock, lloyds tsb, hbos

Many savers could move their money into Irish banks and Post Office

Following a change in the Irish banking industry it seems that many consumers in the UK could be looking at shifting their savings into UK branches of Irish banks or into the Post Office in order to increase the security of their heard earned money. Earlier this month the Irish government changed regulations so that all of its banks offered a 100% guarantee on all savings. The Post Office savings account is run by the Bank of Ireland, so this too will benefit from the increased safety net. Read more

Tags: underwritten banks, uk, irish government, Brewin, Brewin Dolphin, bank of ireland

Have you been seeking advice on child benefit?

For many people the subject of child benefit can be quite complicated, and as parents we don’t want to miss out on valuable benefit for our children, especially in the current financial climate. Whilst there is plenty of advice and information available relating to child benefit some consumers may have decided to use a helpline that was set up to answer queries about this benefit. The helpline is called Child Benefit Information, and is run by a twenty four year old businessman. Read more

Tags: information, child benefit, Website, regulator, credibility officials, thing, official, benefit

Northern Rock forced to cut savings accounts

Just a year ago Northern Rock was being branded the victim of the first run on a British bank in almost 150 years, and customers were flocking to get to the bank and take out their cash amidst rumours that the bank was on the verge of collapse. However, since this time the bank has been nationalised and since falling into government hands now offers a 100% guarantee on savings deposits for customers – a guarantee that had previously only been available on National Savings & Investments. Read more

Tags: northern rock, collapse, hbos, lloyds tsb, competition, savings accounts, year

Food prices could go up again due to harvest

Over the past year consumers have had a lot of rising costs to cope with, ranging from bills and energy prices through to petrol and food. In fact, inflation on food as been one of the most marked rises that consumers have had to put up with, and many households – especially those that have children and larger families – have seen the cost of their weekly or monthly shop rocket. Read more

Tags: World food price crisis, effect, Marketing, inflation, grocery

Could you save money by selling your home online?

Selling your home can be a very long winded, stressful, and expensive affair, and never more so than these days when the bottom has fallen out of the property market and finances are tighter than ever. Those looking to sell their homes at present face a number of hurdles. First is the fact that estate agents are reporting very poor sales figures, with the number of properties remaining unsold on estate agents’ books at the highest level of decades. Read more

Tags: present face, high street offices, online property sales, house prices, Rightmove, decades, average homeowner, current state

Fuel poverty could affect a quarter of households

According to a recent report fuel poverty could be affecting a quarter of households in the UK by the end of next year, with huge hikes in energy prices over the course of this year resulting in an increase in the number of households that are paying 10% or more of their total household income towards energy bills. Read more

Tags: Business Finance, business, fuel poverty, business enterprise, europe, lot, nettle

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