Abbey applies charges to accounts in credit

The High Street Spanish owned bank, Abbey, has found itself in trouble after a number of customers complained about having various charges applied to their account even when they were within their credit limits. According to reports a number of customers have found different charges applied to their bank accounts, ranging from a few pence to pounds, and none of the charges have been justified. Read more

Tags: situation, issue, Debit card, abbey, letter, bank accounts, pence

Is private health insurance the way forward?

We all want to do our best to protect our own health and that of our loved ones, but for many people in the UK the National Health Service leaves a lot to be desired. The NHS has come under fire for many things over recent years, from the length of its waiting lists and the quality of care given in hospitals to the levels of staff and even the levels of hygiene exercised in NHS hospitals. Read more

Tags: price, super bugs, issue, giant, cannot

Banks need to reduce their mortgage arrangement fees

At a time when borrowing has become increasingly expensive, and when household finances have become tighter and tighter due to the global credit crunch, higher bills, increasing living costs, and higher petrol prices, the UK’s mortgage lenders have decided to deal borrowers another blow by hiking up mortgage arrangement fees, making it even more difficult for the average struggling consumers to take out a mortgage or remortgage. In fact, in the current climate some poor consumers could find themselves facing fees of thousands of pounds to remortgage or take out a mortgage, making the whole process impossible for some who simply cannot cope with that sort of fee. Read more

Tags: UK's financial regulator, current climate, matter, Mortgages, fsa, issue, council of mortgage lenders, extortionate

Mortgage lender offering some impressive rates on savings

According to a recent report a number of mortgage lenders have been offering some impressive interest rates on savings accounts in a bid to increase deposits from savers to aid funding. Many banks and lending institutions have experienced funding problems as a result of the credit crunch, which has swept across the country leaving a trail of turmoil in the financial markets. A number of high profile casualties, such as Northern Rock, have suffered terribly as a result of the problems in the financial sector, and mortgage lenders are desperate to avoid heading down the same route. Read more

Tags: saving account, result, issue, mortgage, impressive rates, interest, high profile casualties, bank

London’s size responsible for title of worst city for card fraud

The size of London and its population are the main reasons behind its recent labelling as the UK’s worst city for credit and debit card fraud, one financial expert claims.

According to payments association APACS, the fact that there are more cards in issue in London and therefore more transactions and more retail outlets are the reasons behind the city being crowned the UK’s “fraud hotspot”.

Mark Bowerman, a spokesperson for APACS, said that despite the difference between regions in the numbers of people, ways of consumers protecting themselves against card fraud are the same.

“As long as you are a cardholder who’s following common sense precautions you can minimise the chances of yourself becoming a victim; and [they are] the same steps to take whether you’re in London or in Yorkshire,” he added.

New research from the CPP Group revealed that London has overtaken Birmingham as the worst city for credit and debit card fraud.

In only a year, the capital city has risen from fifth to first position in the UK’s top ten of card fraud hotspots.

Tags: economics, common sense, fraud, cpp group, issue

Villagers “too rich for ATM”

Residents of a Cornish village have been hit with an unusual banking issue – they are just too rich for a cash point to be installed.

Local MP for Porthleven, Andrew George, has revealed the problem to the West Briton today, after receiving a letter from cash machine supplier Link Interchange Network Ltd.

Mr George said: “I am not sure how the people of Porthleven will react to this news. I’m not sure how [Link] have gathered their data.”

Pointing out the fact that many rich city-dwellers’ holiday homes are in the area, he added that “it may well be that some of this [affluence] is experienced by some residents who do not spend all of their time in the community”.

In the letter, Link Interchange said: “This programme looked at areas which were more than one kilometre from a free ATM (Automated Teller Machine) and which were ranked in the lowest 25 per cent for the Index of Multiple Deprivation.”

Unable to find a sufficiently “deprived” district, they passed on supplying the machine, due to Porthleven’s “relative affluence”.

Mr George told reporters that “some constituents have asked me to make representations to Link to request that they provide free access to cash as otherwise they would have to travel to Helston on what is now a poorer bus service than has been experienced in the past.

“I would be interested to know what local people thought about this.”

Tags: Network, cash point, issue, england, Payment systems, Index, rich city-dwellers, relative affluence".mr george

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.

Tags: speed limit, UK's roads, Road transport, Insurance, penalty