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Is payment from joint account (my login) to wife's ISA taxed? Maybe income or gift?
Hi. My wife and I have a joint bank account and manage under my login. We've set up new ISAs with a different bank. If I make a payment from the joint account to my wife's ISA, will it be treated as income to her or a gift in some way, and taxed? I read there is a limit to gifts you can give before getting taxed, or…
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Monzo pay at Post Office
Just had an email to say you can now pay into your account at the Post Office. You can still do it at Paypoints but I know people have had issues doing that.
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Santander £185 switch for existing Santander customer?
I have Santander current account, can I close my other bank and switch to santander and get £185? Is it need to open a new Santander current account?
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Does Lloyds Bank Computer Take The Weekend Off?
I've just gone into Lloyds Online banking to make a
20k deposit into an ISA in a building society for tomorrow (6 Apr) by Faster
Payment. I noticed that having completed the procedure the on screen
message said if the payment date falls on a weekend payment will be made on the
next working day! Does the last man at work in…
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Overdraft, when not really needed
Hi, I’m eligible to get an interest free overdraft on my TSB Student Account. I don’t anticipate I’ll need it, and if I did it’d only ever be for a couple of days while waiting for money from Coventry BS to come across. Presumably it’s a good idea to go for it even if I won’t really use it? On one hand, I’m thinking other…
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Do switch bonuses count as taxable income?
Say theoretically you have a taxable income of £50,071pa including interest on savings etc. You get a £200 bonus for switching current accounts. Are you now in the higher rate tax band?Just trying to calculate how much salary sacrifice to do in March to keep me below £50,270 taxable income so I can retain £1000 basic rate…
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Help, How does a 19 Year old with no Credit history, get a bank account.
My nephew is 19 years old and has never had a bank account or any sort of credit (not sure why his parents never got him one as a child but that's another story!). He has applied for a standard bank account (Lloyds) as needs one to pay his wages when he gets a job (until now he has been in full time education) or short…
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Santander - pending payments
I just setup anew payee from Santander current account. I set a payment of £100 to go to this new payee on 9 April. I wanted to check that it was set right, but I couldn't find details of this future payment. I messaged Santander, and apparently it is the case that you cannot see future payments set in this way. Though I…
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First Direct closed my account without warning during a switch? What will happen
So I came across the cashback offer on Monday and decided to give them a go. Account and credit card opened instantly, I had a couple of bank accounts that I didn’t use and decided to switch them over to FD. And in order to get the cash back I switched my current account with chase over. All good. I went into the app…
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NatWest Branch Closures - Misleading Info on Customer Use?
So Natwest have announced another round of branch closures. I completely understand the reasons for this but the information they're giving to support the decisions seems completely fabricated. Our local branch has queues every time I go past yet according to Natwest only 2 customers used it per week so for 3 days out of 5…
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Basic Account
Hello, I'd like to open a Basic Account in preparation for debt management/solutions (likely defaults followed by a DMP). I was told Nationwide was the best but I noticed it said you cannot apply if you currently hold another UK current account. I checked some others and they seem to say this too. I notice Lloyds states…
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Suing Santander
I am in the precess of starting proceeding in the Cardiff County Court against Santander. They closed my account down in September 23 and didn't notify me. I logged on mid December 23 and there's no money there in my account. I sent a Subject Access Request and they have not complied. I have no idea what is happening with…
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Overseas working in Norway
I’ve just accepted a job in Norway and they will be paying me in Norwegian Krona. This will be taxed at Norwegian rates. Does anyone have any advice regards bank accounts to accept the money, any implications regards bringing the money back into the uk or any general advice?
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Standing order issues - advice please
Cancelled a standing order as I was told the entire fees were paid and no further payments were due. However, the standing order still went out. I reached out to the company concerned but they are saying they do not do refunds bizzarely. When I spoke to the bank, they are saying I cancelled the standing order on a bank…
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High interest from an account with monthly standing-order facility
Any recommendations on how to find an account from which I could set up **automatic** monthly outgoing payments (essentially, an account with standing-order facility), but which gives a reasonable rate of interest? The scenario is wanting to put money into the account periodically, e.g. once a year, and have transfers go…
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Anyone Used the Revolut app/bank for holidays
Just signed up with revolut and wonder if anyone has any advise on how to get the best out of it on holiday. Going away for just over a month and signed up for the standard account with no fee. I see you can have different currency accounts, does this mean buy the currency now at a good rate and when I use the card on…
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Santander Switch offer ended 4th April 2024?
Santander Switch offer ended 4th April 2024?
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Virgin Money Customer Survey
I have just received a customer survey from Virgin Money, Brighter Money Matters. I had signed up for their Brighter Money Matters a few weeks back so was happy it was not an unsolicited email. The survey was about a specimen letter asking for KYC information and VM wanting to know what I felt about it. It included the…
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Challenger Banks
Hi everyone, Long time reader, first time posting. Just wondered if anyone could offer any clarity on requirements to open an account with the challenger banks? Adult son (early 30's still at home), currently unemployed due to long term health conditions. Regular benefit payment into current account, for which he has a…
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Martin Lewis Recommended Bank Account query
Hi, https://www.moneysavingexpert.com/news/2022/09/barclays-savings-blue-rewards/ It says in the above link: and pay a £5 monthly fee – though this is waived if you have at least two direct debits set up. You also need to be registered for online or mobile banking. If there's 2 direct debits and lets say your contract for…