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Budgeting & bank accounts

Discuss bank accounts, banking apps, budgeting hacks and how to organise your money.

Chargeback question
Hi, I did a chargeback for a service that was cancelled and was getting no joy for a refund, the service then went ahead after all now the bank have paid me while they do their checks. Shall I ring them and tell them to take the money back or will they just do it automatically?
Foolish son and bank accounts being closed
My foolish teenage (17) son got involved (unbeknownst to me) in some scam (trying to refund a package of clothes that he ordered from some retailer) and had his Halifax account closed. He opened another account with Monzo but they questioned a deposit into his account (£275 a friend was repaying him) and now Monzo have…
50p direct debits / STRIPE payment suspension
Hi all. I set up 2 x 50p direct debits as part of meeting the Co-Op switch criteria. I noticed no payments were taken in August and then I saw this on the 50p site. 11/08/2024 - Unfortunately, due to a technical issue with our payment provider Stripe, we are unable to setup new direct debits. Also, all existing…
Use of Savings Hub and trust structures
Hi I'm new here. Hope it's OK to post this, I don't think Martin's site offers an equivalent service so I don't think I'm promoting a direct competitor. I am thinking of signing up to the Savings Champion website's Saving Hub, where essentially they broker the individual's relationship with a number of banks. It's supposed…
HSBC reducing overdraft
Had a letter from HSBC that they are reducing my overdraft. I guess all the banks are going to start doing this now? I am waiting to see if my credit card limit is also reduced!
Barclays to close accounts of all British expats
From the telegraph: Full article: https://www.telegraph.co.uk/money/banking/barclays-to-debank-all-british-expats/
Which UK bank accounts allow outbound transfers of very large amounts?
I have got my life savings in various investments, but the Labour Party's tax and other policies don't make it worthwhile to keep the money invested for ever-decreasing returns netted by me. Therefore, my intention is to exit from those investments over a period of around a year and then use the redeemed funds to buy a…
I don't use paypal so what is a way to buy a bike from a random person on and internet forum?
It is just over £100 so not huge amount but also not something I would like to lose. The forum specializes in retro bikes so it is not a common honey pot for scams like gumtree I wouldn't think. There is a lot of buying and selling on there but this user is a newish member without any real post history. However they have…
Raisin account timeline
Hi all, I applied for Raisin but now it says "Application verification in progress". Its been like that for 4 days. Anyone know how long it takes please? Thanks Mia
TSB App Text / Setup Size
When updating app to 8.5.3 have others found the new transactions layout takes up for too much space? I can now only see three transaction without scrolling, before I could see eight.
Santander OTP code every time I want to look at my account
Every time I log in to my Santander online account I get a request to put in a code into my mobile phone.This is inconvenient as I do not always have my mobile handy to my desktop PC, I am 78 years old and it is not an easy task to get up and down the stairs etc.I have spoken to Santander and they are not interested, they…
Halifax Reward Current Account - Do Internal Transfers Count?
I've had a Halifax Reward account for a few years now, and for some reason I just assumed that internal transfers would not count towards the £1500 monthly pay-in requirement, but having looked into this, I can't actually see anything to suggest that internal transfers wouldn't count. Can anyone confirm?
Best bank account for transfer of USD
Hello! Newbie here. I'll shortly be working overseas on a rotational basis, for a US company who will be paying me in USD into a US bank account (that they are setting up). I will be looking to transfer most (if not all) of the money across to a UK bank account to pay bills etc whilst I am away and obviously looking for…
Samsung/Google Wallet and Halifax
My son just changed his phone from a Galaxy S20fe to a S23FE and previously has his Halifax Expresscash debit card added to his Google wallet and now on this new phone its saying this Card is not supported. same on the samsung wallet. Seems strange as it worked before on the older phone and now we cant add it, is there…
HSBC Premier increases requirement
HSBC have increased the income requirement for their premier account from £75.000 to £100,000. In addition if you wish to use the savings route, you now need £100,000 instead of £50,000. I have to say if I had £100k sitting in an account, it wouldn’t be at HSBC! I wonder if existing account holders will be thrown out if…
List of Bank / Building Society app cheque deposit limits
For those of you who still receive cheques here's a consolidated list from contributions below and a previous defunct thread from another forumite. Thanks to you all in advance. Al Rayan - cannot see a way to deposit cheque Barclays - maximum £2000 per cheque four times a week Beehive - cannot see a way to deposit cheque…
Card reader vs mobile app
I've been using Nationwide's card reader for several years now via my laptop, for online banking, and all seems well (so far!). However, I keep getting hints from the bank to use their mobile app. Reading about the app, I can see the relative greater convenience, but for me it's not convenience per se but security that is…
Shopping for new bank account rather than using old savings account
Hey folks. I own a little cafe, and I pay the VAT quarterly. The way I manage this is every week £500 gets automatically transferred from my Natwest business account into a Natwest Flexible Saver account, and then when the VAT bill is due, once every three months, I transfer the money from the Saver account into my current…
Santander Edge savings account
I've been informed that the rate on my savings account will drop at the anniversary of opening. I'm assuming I can just close that account and re-open another one again to get the better interest rate. Is that correct?
Barclays Premier account opening/switching for offers and HSBC Premier account
I've had a HSBC premier account for years (like 10+) and use it to receive my monthly salary and pay some direct debts from (insurance, savings standing orders, any credit card monthly payments, amex etc...). I also have a Halifax current account (I think of this as the "House" account) which I transfer into at the start…

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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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