Personal Finance&Savings Mag-£1 for 12 issues

noelski_2

Hi People,

On the front of Personal Finance&Savings Mag (Feb 2005 issue £2.50) that I bought from WH Smiths yesterday was a leaflet, stuck on the front of the mag, with a subscription offer for this mag.

"To get you in the savings habit, we are offering you the chance to sub-scribe to a year's worth of PF&S for £1 only.
That's right. No hidden catches and no small print, just 12 copies of PF&S for £1 only."

and

"Why are we making such an offer? Simply because we know from our experience that once you take up PF&S regularly you'll realise the value of having a copy each and every month and stay with us for years to come. Just like our other subscribers"
If you use the form as well it says that this fixes the subscription price after the year to £19.95 each year and not the normal £30."

I cannot see a closing date for the offer on the leaflet and the only T&C that I can see is a * by the “yes, I wish to subscribe to PF&S for an initial payment of £1 only by standing order and fix my annual subscription thereafter at only £19.95 for life*” The * at the bottom of the leaflet says “Subject only to our obligations should there ever be VAT”

You have to set up a standing order. What is a standing order? Sorry to be so unknowledgeable but never set one up before. Is it just the same as a Direct Debit but a different word?

Now I know you have to be wary of things that look to good to be true but is this real, do you think? and is the magazine any good? Has anyone read it and what do you think?

I do not have any connection to this mag.

Thank you for your time

I have posted this in 'Savings and investments' and 'Quick! Grap it while you can'

blinko

standing order is an instruction to your bank to pay someone on a certain date or just once off etc.

so i think they would be taking the £19.95 annually so

12months at £1 each would bring us to feb 2006 then you would get charged £20 odd till feb 2007 and then charged £20 again.

but i see nothing in the terms that says you cant cancel it anytime

davidcampbell

the main differences are

standing order is a fixed amount on a fixed date (although you can make either the first or last payment variable). most common example is see is for council tax where you might pay £100 for month 1 and £94.56 for months 2 through to 10 (just example figures)

a direct debit is variable on both counts - the company will choose how much you owe for that month/year etc and when they are going to collect it and advise you. usually used for utilites, phone bill etc where you cannot determine how much the cost will be until the period has ended.

crucially you retian all control of a standing order.

if you set up a direct debit this is an instruction to this company to approach your bank and collect your money (your bank doesnt give them it, just allows them to take it - important difference)

a stanidng order is your instruction for the bank to send it. you can make whatever amendments are necessary by contacting your bank (including cancellation) whereas with a direct debit whilst you could cancel with your bank and cut them off at that point, theoretically the company could reset the dd and continue taking your payments

DC

djblamire

Does it say you can apply online (or over the phone) for this ?? - Any codes to quote ?

Thanks
Daniel

Roehyde

No mention of this offer (that I could see, anyway) on their website: http://www.pfmagazine.co.uk

I'll have to pop into WHSmith at the weekend. Thanks noelski!