A few weeks ago the Office of Fair Trading published an interim report on their study of the payment protection insurance market. Suffice to say, they’re not happy with the industry.
Category: Banks
Motley Fool: What To Do If You Can’t Get Credit
Having helped to fuel the biggest borrowing binge in history, British banks are becoming increasingly nervous about lending to individuals.
Motley Fool: 10 Reasons To Buy Shares
A friend of mine hates risk — he would much rather leave his money in the bank than buy shares with his spare cash. When we ran into each other recently, he challenged me to come up with half a dozen good reasons why he should buy shares. Not being someone who readily turns down a challenge, here are the reasons I came up with.
MoneyExpert: New Cheque Checks
The longstanding custom of writing cheques made payable only to a bank or a building society is set to change at the end of September.
MoneyExpert: OFT To Decide Next Step On Credit Card Penalty Fees
The Office of Fair Trading (OFT) is set to release its results from negotiations with card lenders over late payment penalties.
Motley Fool: Fixed Vs Tracker Mortgages
We regularly write about why you should switch mortgages, such as in the recent article Is It Worth Remortgaging? We show that if you don’t frequently compare mortgages and switch from the always-expensive standard variable rate (SVR), you could be losing around £500 a year.
Motley Fool: Why Packaged Accounts Aren’t Worth It
I’ve never been a big fan of so-called ‘packaged’ bank accounts. These are current accounts that entail you paying a monthly fee in return for fringe benefits such as ‘free’ annual travel insurance, car breakdown cover, discounts on package holidays, free card protection and mobile phone insurance.
Motley Fool: Successful Claims For Unlawful Charges!
So far, at least £2 million has been recovered by thousands of people for unlawful bank charges. As for my claim, it’s moving on. My bank has acknowledged the court service notice and has about twenty days left to file a defence. I switched to a better current account ages ago, so there can be no nasty repercussions!
Principles Of Islamic Banking
There are more and more financial products coming onto the market that comply with Sharia Islamic law, and it’s interesting to learn how Islamic banking works. Here are the basic principles: One of the most important principles is that the giving or receiving of interest is forbidden. All money must be invested in industries that […]
Motley Fool: Five Ways To Transfer Money Abroad
Every idiot in the world but for us Brits seems to be able to do cheap money transfers. The world is getting smaller and more Fools are having financial dealings abroad, but it can still easily cost £30 for us to make small transfers. Yet it doesn’t cost banks anything like this to complete the transfer. (Sound familiar?) Plus, banks often charge you for receiving money transfers, as well as sending them. Grotesque!