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Budgeting & bank accounts

Archives for October 2020

With many overdrafts at 39.9% is it cheaper to withdraw cash from a credit card if needed....
for a few days
How should banks address customers by default?
When I was young, I was taught that, as a matter of courtesy, I should address others by their title and surname unless invited - by the person concerned - to use their forename. As I've grown older, I've learnt that there are situations, such as when meeting someone in a purely social context, in which that rule is…
Halifax addressing error
I have been with the halifax for 15 years and have lived in this house on my own for 15 years. In June my ex husband and I cashed in a policy with Scottish Widows he changed the address with Scottish Widows to his home address, which we have never lived at together either. I happened to log online and find that my personal…
Switching to Lloyds
Not all that long ago i thought you couldn't switch to a bank if you were already with that bank. Then i learned with the Halifax switch (think it was £125 + £50) that this wasn't true. Easy money. My sister is looking for a bank once TSB drop their interest payments in December, especially as their I.T. setup is pretty…
Lloyds close my account without any reason, can I reopen the account after few years?
Hello everyone, I received a letter told me my account will be closed in 65 days, and "any accounts you may open with the bank at any future point in time" will be closed without further notice. Does anybody also receive the same letter and reopen the account successfully? Am I blacklisted by the Lloyds and cannot open any…
HyperJar Launch Free Kids Card
Kids Card launched today - https://hyperjar.com/kids/ ZERO subscription fees for as many children as you have ZERO fees to load funds ZERO FX fees when purchasing in other currencies No separate kids' app yet. Apparently, still in development. For kids, 6 years of age, up to 17. (At 18, they can have their own HyperJar…
PayPal direct debit
Hi, I have just seen I have a PayPal direct debit coming out of £13,98 each month coming out starting from September, which I have no clue why or what for. My bank account linked to it. Is not my everyday account, so not something I have picked up on til now. I’m so confused about what it is. Am I ok to cancel this from my…
Budgeting Apps and Smile
I’ve spent a bit of time researching which budgeting app to try. Eventually settled on Money Dashboard, only to discover it doesn’t link to Smile, where I have my main bank account. I then opted for my second choice of app, Emma - same thing, it doesn’t link to Smile. To save me downloading every single app in attempt to…
TSB - ok through FireFox but not Chrome?
I'm guessing nobody else is going to be experiencing this but i have for some time now. Finally getting round to asking why. I can log in to TSB via FireFox not a problem. If i try it through Chrome then it's a bad 400 gateway or something to that effect. What gives?
Nationwide CHAPS to NS&I
Has anyone had to do a Nationwide CHAPS to NS&I account? Nationwide are refusing to help me determine if 'NS&I Income Bond' accounts are classed as a 'personal' or 'business' account, and NS&I are saying Nationwide should advise!? Now I cant get hold of anyone on chat or the phone due to Covid! The fact that NS&I has…
I thought the Barclay's double rewards was only for 12 months?
Last summer there was a switching offer and i could've sworn that it was double blue rewards for 12 months. I was ready for it ending and then i was going to shut the account down as i think it actually costs 50p per month without the offer. I'm well past 12 months now and still getting it. Have i missed notification of it…
Going over overdraft limit advice please
Hi My son earns good money for the area we live in. He used to be good at saving up to the point of when he turned 17. Now he spends money like I don’t know what. It’s never on anything in particular other than takeaways and fuel etc. This could amount to £1300 in about 2 weeks or less. Basically he is spending more than…
Regular savings accounts. Can i open a HSBC advance and a Natwest account?
Can i take advantage of the bonus introductory offer of £125 from both accounts if i open them at the same time? Moving money across from one account to fund the other minimum pay in requirements. I intend to have 2 direct debits for both accounts. Or do i have to close an existing current account? In which case i have 2…
Baby bank account
Hi, I’m wondering if anyone can recommend the best bank account for our newborn son who has been gifted a cheque to the value of £1000. Having looked at some of the accounts recommended on MSE, these are for older children or the parent is required to have an existing account with said bank. We will likely set up a regular…
Grandparent with dementia - need to downgrade their current account
Hi all. My grandparent has TSB Platinum, which charges £20 a month for the privilege, but there is no need for her to keep this now as she lives in a home with dementia. Her only income is her pension and her only expense is the home's fees. I would like to downgrade the account to TSB's standard current account, but I…
No Halifax reward for September?
Just running through the accounts for September. I see i got £5 on my solo account and there was £5 on the joint account but no £5 on the wifes solo account. She got it in August and has been paid it for October. I thought the criteria was not a penny less than £5k throughout the month and that is it. No need for a minimum…
Self employment grant
Hi I am new to this. I am a self employed some trader. I run a small care business and through the Covid situation I have had to pay four time’s as much for PPE ie a box of disposable gloves which used to cost me £4 per box are now costing me £20 a box. I have been really busy during the pandemic so didn’t think I had been…
£2,100 has left my bank account but now been returned?
Hello everyone, I recently submitted my tax return to HMRC and after a few days once the system had updated I was told to pay the amount I owe which was £2100. I paid by debit card and it’s set up so I have to acknowledge the transaction either by text or by logging into my banking app to prevent fraud. I confirmed the…
My dad has been scammed out of £19,000
Hello people, After a little advice and guidance. I received a phonecall this morning from my elderly mother concerned about a phonecall that my dad was currently on. She said that the person on the phone was ringing about trying to stop money leaving my dads account. Obviously instantly alarm bells started ringing and I…
Newly converted Virgin Money branches - full service?
I have a passbook based savings account with Virgin Money, which I previously operated in their old-style (ex Northern Rock) branch. This branch has now closed, and I’ve been told I can go to the nearby Yorkshire Bank branch which has been rebranded as Virgin Money. However, will I be able to run the account in exactly the…

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MSE News

Ofgem proposes new 'no standing charge' Price Cap – but Martin Lewis warns vulnerable customers need to be opted in or it won't work
Ofgem has today launched detailed proposals for a major shake up to its Energy Price Cap that dictates the price over 80% of homes in England, Scotland and Wales pay for their energy bills.
Lloyds, Halifax and Bank of Scotland to cut overdraft rates for millions but hike them for others – here's what's happening and full help
If you're a Lloyds, Halifax or Bank of Scotland current account holder, the interest rate you're charged for using your overdraft could change soon as part of a fees shake-up. The Lloyds Banking Group, which owns all three brands, says millions of its customers will pay less after the changes – but a "few" will pay more.
Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more low-income households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Martin Lewis: At last a chance to fix Council Tax flaws impacting millions – debt collection, difficulty challenging your band, discounts and more
Major flaws in the Council Tax system in England could finally be fixed in future, as the Government has launched a wide-ranging consultation to review hideous debt collection practices, the difficulty of challenging your band, the overly complex and horribly-named Severe Mental Impairment discount and more. MoneySavingExpert.com founder Martin Lewis, who has long campaigned on these issues, shares his response and analysis.
Energy complaints to be dealt with more quickly and Energy Ombudsman to get new powers under Government plans
If you have a complaint about your energy firm, it may be resolved more quickly in future, as the Government has announced a raft of proposals to strengthen consumer protections in the energy market. The planned changes include giving the Energy Ombudsman new powers to force firms to comply with its decisions – but it's still very early days. Here's what we know so far.
Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Base rate held at 4.25% – here's what it means and when it might be cut next
The Bank of England has held the base rate at 4.25%. Below we explain why, when it might be cut, plus what it means for your mortgage and savings.
Applied for South West Trains 'boundary fares' compensation? Act now to claim it
If you applied for compensation from South West Trains before the deadline in January 2025, you now need to provide your bank details to the claim administrator so it can be paid to you. Here's what you need to know.
Winter Fuel Payments to be reinstated for millions – Martin Lewis explains how it'll work, what it means and if it's an improvement
All State Pensioners in England and Wales will receive a Winter Fuel Payment this winter, though those who earn over £35,000 will see it clawed back through the tax system. It means nine million pensioners will get the £200 or £300 top-up. Here MoneySavingExpert.com founder Martin Lewis shares his instant response and analysis, and we include answers to your key questions.

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Budgeting & bank accounts

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