Money Tips email | 28 April 2021

MSE_James

Hi Forumites! 

This thread is the place to discuss anything and everything that's in the latest Money Tips email.

The team has been working flat out to bring you the latest deals, guides and tips 'n' tricks. We've picked out a few highlights:

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1. If you've been squirrelling away savings, there's good news about rates
   Find out how to maximise every penny 
    
2. Student loans: Martin Lewis explains how parental contributions are calculated
   Check our new 'How much to save for my child to go to uni?' calculators for each UK nation
    
3. We've put together a masterclass in no-cast borrowing ... if you need to
   Remember: if you can't afford it, don't do it
    
4. Sainsbury's is shaking up its weekly Nectar offers
   We're using your feedback to piece together the details
    
5. Watch out for a cheque if you're an HSBC, First Direct, M&S or John Lewis bank customer
   There's a new refund scheme for those wrongly charged interest

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If you're not already signed up to receive our Money Tips direct to your inbox, why not? Handily, however, you can do so here.

miniemma

Really struggling with the Suttons plant offer.  10pm last night it took 5 mins to realise that you have to add it to your basket to see the correct price, the site was so slow and clunky it took another 10 mins to tell me I already had an account when I tried to register, eventually reached checkout after another 10 mins only to find the credit card and paypal options missing, these randomly appeared only for the discount to disappear!  Went through the whole process again and got an error about my address, couldn't find any issues.  Turned on computer instead of tablet, repeat all of the above, another 20 mins and chose PayPal instead of credit card, transaction went through after a couple of site crashes.  PayPal email received, went to bed at 11pm.  This morning I still only have the PayPal email, nothing from Suttons and their site is a little quicker but it stalls when I try to log in - nightmare!

Toot_Toot

I was interested in the Sainsbury's Nectar article and wondered if Tesco have something similar. I have had a clubcard for years but Never receive any coupons. Even at Easter when everyone got an egg my coupons on the app just said coming soon. I contacted Tesco clubcard and they said it depends what you buy and is random. I have done my partners shopping on my clubcard for 6 months and vice versa. She still gets coupons and I get nothing.

Kemu

Trying to understand the ChipAI story. The email says "With the interest, Chip's actually giving you a marketing bonus for saving". Does this mean it doesn't need to be declared as savings interest (for personal income tax)?

Goldwing1

I've also had problems with the Suttons offer with payment being taken three times but the Suttons site says I've not completed the order!

I've messaged Suttons using their web form. Slightly disappointed that they haven't sent a copy of my complaint to my e-mail account so I'm glad I've taken a local copy of the text. I've also taken copies of various web pages.

I also e-mailed MSE and I'm very impressed with the speed of reply there (MSE Laura. She's either incredibly efficient or MSE Laura is the MSE version of Alexa). I now note that the MSE Suttons page say they will refund within 48 hours. The Suttons contact website now refers to these problems. 

The only contact I've had so far from Suttons is an e-mail offering me 10% off on my first order! I can't see me using that anytime soon.

Sarahspangles

I’ve been offered £9 off £90 spend by Nectar for three weeks now. I think they are running an experiment to see how customers react to different types of offers - no offers, points on products, money off a minimum spend.

I haven’t used it because I haven’t needed a big shop.  But when I have been in, I’ve used my partner’s Nectar card rather than my own to see if I can get the Nectar marketing algorithm to detect that I’m not shopping and improve the offer.

I should really get better hobbies!

debrajean

Re Nectar cards.  Are forumites aware that Nectar can cancel your card and all the points on it without notifying you if it hasn't been used in store in 12 months.  I found this out during lockdown when my 89 year old father's card and points suddenly stopped working on his weekly online shop.  I wonder how many elderly people had cards cancelled during lockdown?

The_Green_Hornet

debrajean said:

Re Nectar cards.  Are forumites aware that Nectar can cancel your card and all the points on it without notifying you if it hasn't been used in store in 12 months.  I found this out during lockdown when my 89 year old father's card and points suddenly stopped working on his weekly online shop.  I wonder how many elderly people had cards cancelled during lockdown?

I have never used my Nectar card in store (and I have had it for years) and it hasn't been cancelled.

kimwp

Kemu said:

Trying to understand the ChipAI story. The email says "With the interest, Chip's actually giving you a marketing bonus for saving". Does this mean it doesn't need to be declared as savings interest (for personal income tax)?

I think, because it is an amount that is related to the amount in your account, it counts as savings interest. I looked at it when I had a chip account but can't remember the details. I closed it down because I didn't like the fact that the interest doesn't earn interest and you have to withdraw the whole balance to access the interest. Plus you have to keep manually delaying the autosave to stop it pulling money from your account.

Oh, and it takes three working days to access your money.

kimwp

kimwp said:

Kemu said:

Trying to understand the ChipAI story. The email says "With the interest, Chip's actually giving you a marketing bonus for saving". Does this mean it doesn't need to be declared as savings interest (for personal income tax)?

I think, because it is an amount that is related to the amount in your account, it counts as savings interest. I looked at it when I had a chip account but can't remember the details. I closed it down because I didn't like the fact that the interest doesn't earn interest and you have to withdraw the whole balance to access the interest. Plus you have to keep manually delaying the autosave to stop it pulling money from your account.

Oh, and it takes three working days to access your money.

@Kemu, it's about a third of the way down this page:

https://www.litrg.org.uk/tax-guides/savers-property-owners-and-other-tax-issues/savings-and-tax

Chowe55

SUTTONS...... I'm another one having issues. I placed my order on the amazingly slow and clunky website, and my payment was taken. I did not receive a confirmation email. When I went back an hour later my order was back in my basket.
I contacted them through Messenger on their FB page and they said the PayPal payment had not processed properly and no payment has been taken, also the offer had sold out so I could not re-order. 
I have checked my bank account this morning (3 days later) and the payment has definitely been taken. It has moved from pending to a full payment.
I have tried to contact them again through Messenger, but no reply this time. I have also used their Contact Us section on their website, and again no answer.
If payment has been made then surely they should supply the products........ how can they decide between customers who have paid in good faith who is to actually get their order.......... they might as well have done a raffle!!!!!!