The failed attempt to agree the amended Brexit deal has moved the UK down an uncertain path. Tonight, Parliament will vote on whether to reject or accept leaving the EU with 'no deal'. If they do block it, MPs will then vote on whether to extend Brexit from its original date of March 29. If that does not go through, the UK will leave the EU without a deal. This morning, the government published more than 100 "technical notices" outlining the effects of no deal, alongside new proposals to leave 87 per cent of goods imports tariff free. If there's no arrangement in time and the UK does leave without a deal, we'll lose international trade deals with more than 70 countries and a lot of the impact will be felt on businesses up and down the country. What is a No Deal Brexit? No Deal is the default option if MPs, the EU and the UK government can't agree a Brexit 'Withdrawal Agreement' by March 29. The 585-page deal on the table would have ensured businesses aren't cut off by continuing rules … [Read more...] about The 22 ways a no-deal Brexit could affect you
New checking account deals
Fee-free banking still exists, but it's a shadow of its former self. The qualification rules have been tightened up to the point where you could argue it no longer exists in any meaningful sense. Indeed, the final nail in the coffin of fee-free banking from traditional banks has been hammered in over the last few weeks. Permanent TSB now requires customers to keep a balance of €2,500 a month if they want to avoid paying quarterly maintenance fee of €18. The other pillar banks take a similar approach, with AIB also asking you to keep a balance of €2,500 to avoid various transaction fees and a €4.50 quarterly maintenance fee. Ulster Bank now has a threshold of €3,000 to avoid similar transaction charges, but you can't avoid the €2 monthly maintenance fee. Ditto for Bank of Ireland: its threshold is €3,000 to avoid transaction charges, but you will still have to pay a quarterly maintenance fee of €5 no matter what. But the good news is that … [Read more...] about Your Money: Can you beat fees and bank on a digital-only current account?
The old saying "If it sounds too good to be true, it probably is," still applies in today's online and mobile banking world. New high-yield accounts are being introduced on the internet and in the mobile world that offer around 1.5 percent on checking accounts (vs. the national average of 0.2 percent) or more than 2 percent on savings accounts (vs. the national average of 0.3 percent). But they're often not the great deals they first appear to be once you understand the details. Keeping an eye out for these four red flags can help you identify potential issues before you decide to give one of these accounts a try.The high-yield account isn't from a bankThe first red flag is if the financial company offering a high-yield account isn't a bank or credit union, but that doesn't mean the offer is a scam. It may be an investment account that a brokerage company is offering, which shouldn't be confused with a deposit account. Deposit accounts, such as a checking or savings accounts, are … [Read more...] about 4 red flags about high-yield bank accounts
MORE and more banks are offering rewards to lure Brits to switch current accounts, and now RBS is offering new and existing customers £150 in cash. This is the joint-highest upfront bonus together with HSBC and Natwest, but you'll have to meet some requirements before you get accepted. The new switching offer is available to new and existing RBS customers who switch their main bank account to a RBS Select, Reward, Reward Silver or Reward Platinum account before March 8. On top of the money, those who choose the Reward accounts receive 2 per cent cashback on bills paid by direct debit. This means the average customer could receive £83 each year if they have monthly bills of £345, according to RBS. But the Reward accounts do come with monthly fees ranging from £2 to £20, so carefully consider whether your bills are high enough to make the fees worth it. The RBS Select account comes with no fees, but you won't receive the cashback either. What do you need to get … [Read more...] about RBS will pay you £150 to switch current accounts – is it the best deal?
A no-deal Brexit would “inevitably” lead to the return of a hard border in Ireland, the European Commission’s chief spokesman said on Tuesday (22 January). “If you push me to speculate on what will happen with a no-deal I think it’s pretty obvious. You will have a hard border,” Commission spokesman Margaritis Schinas told reporters at the EU executive’s daily briefing. “Our commitment to the Good Friday Agreement would inevitably have to take this into account. This is what a no deal scenario would entail.” “I will not speculate on plan B because we are still committed to plan A,” Schinas added. “A no-deal Brexit will clearly put some of these things at risk”. The question of the border between Northern Ireland and the Republic has been one of the most controversial issues throughout the Article 50 talks between UK and EU officials. The controversial Irish backstop is aimed at preventing a hard border by … [Read more...] about No-deal Brexit makes hard border in Ireland ‘inevitable’, says Commission