2017 Highlights: Budgeting & Bank Accounts

hoc

What have been your highlights for 2017? Either comment or link to thread.

I am returning to the forums after more than 6 months away, I was very ill. What have I missed?

Kim_13

I wouldn't call it a highlighted but you may be affected in future by an incoming change to Nationwide's 5% FlexDirect terms: https://forums.moneysavingexpert.com/discussion/5727599

If you have multiple current accounts like many of us here, you may also be affected by Tesco's decision to stop Direct Debit deposits into their savings accounts on 22nd April 2018. This includes stopping all existing mandates as well as new ones.

Natwest have cut their Reward account fee from £3 to £2 per month and the cashback rate from 3% to 2%. This change is already live.

Lloyds Banking Group (so Lloyds, Halifax and Bank of Scotland) have changed their overdraft charging to a flat 1p per £7 borrowed per day, debited daily. So no fee for a £6.99 overdraft and 1p per day for £13.99. Some winners and some losers from this change, depending on the amount borrowed.

Nationwide FlexPlus is now £13 per month up from £10 minus the extended warranty and the card protection, but now has an interest free £250 overdraft rather than £100. They also permit more phone insurance claims in a 12 month period than before. If you have this account, check whether it's still worth it to you.

JustAnotherSaver

Kim_13 wrote: »

If you have multiple current accounts like many of us here, you may also be affected by Tesco's decision to stop Direct Debit deposits into their savings accounts on 22nd April 2018. This includes stopping all existing mandates as well as new ones.

I'm glad I came in to this thread as I wasn't aware about this at all.

And this will affect the thread I just created regards my sister and an account she's wanting to switch to as well as so many of my own accounts.

It would make monthly banking easier but it's also missing out on a good amount over the year.



So then ...... what's everyone doing to work around this?

Kim_13

JustAnotherSaver wrote: »

I'm glad I came in to this thread as I wasn't aware about this at all.

And this will affect the thread I just created regards my sister and an account she's wanting to switch to as well as so many of my own accounts.

It would make monthly banking easier but it's also missing out on a good amount over the year.



So then ...... what's everyone doing to work around this?

Hi Just Another Saver

I've just replied to your post about your sister, as she may still be able to use Tesco.

With regards to what we are doing in the longer term, there is a discussion in this thread: https://forums.moneysavingexpert.com/discussion/5734632

Some discussion also in the Tesco Savings DD's thread that you found a little bit ago. Here is the link in case it is of interest for any other readers: https://forums.moneysavingexpert.com/discussion/5730177

JustAnotherSaver

Kim_13 wrote: »

Hi Just Another Saver

I've just replied to your post about your sister, as she may still be able to use Tesco.

With regards to what we are doing in the longer term, there is a discussion in this thread: https://forums.moneysavingexpert.com/discussion/5734632

Some discussion also in the Tesco Savings DD's thread that you found a little bit ago. Here is the link in case it is of interest for any other readers: https://forums.moneysavingexpert.com/discussion/5730177

Thanks Kim

I did search and did find a (2014) thread on direct debits but it was so out of date and unorganised - the list contained 'results' that said "this no longer accepts", well if it doesn't accept then remove it from the list??!

So thanks for the link.

PeacefulWaters

hoc wrote: »

What have been your highlights for 2017? Either comment or link to thread.

I am returning to the forums after more than 6 months away, I was very ill. What have I missed?

Lloyds Banking Group Overdraft charges have been changed for the better for small borrowers.

Big borrowers should refinance!

hoc

Thanks for the replies. Just a shame there is no good way to find the big threads of the year. I tried searching and sorting but it doesn't work well.

Eco_Miser

hoc wrote: »

Just a shame there is no good way to find the big threads of the year. I tried searching and sorting but it doesn't work well.

On the board page (list of threads), at the bottom, is a Display Options section with three dropdowns. Selecting

• Sorted by: Number of Replies
• Sort order: Descending
• From the: Last Year ( last 100 days)

gives sort of what you want. Unfortunately, the number of replies remains that for the whole multi-year thread when the thread is over 12 months long.
Or perhaps you knew that already.

hoc

Eco_Miser wrote: »

On the board page (list of threads), at the bottom, is a Display Options section with three dropdowns. Selecting

• Sorted by: Number of Replies
• Sort order: Descending
• From the: Last Year ( last 100 days)

gives sort of what you want. Unfortunately, the number of replies remains that for the whole multi-year thread when the thread is over 12 months long.
Or perhaps you knew that already.

Excellent. Thanks!

I hadn't seen those, I had tried sorting only (from the top) which was no good because it was not time limited.

eDicky

I think the banking highlight for me this year was in May when Starling Bank sent me a sign-up code by email. After checking their terms and lack of any (including overseas) fees, I passed the time awaiting my flight out of an Indonesian island airport by downloading the app, signing up and verifying myself, and being immediately given their mobile-only bank account which has turned out to be very useful.