More than 10 million people have £411 each in a forgotten current account, equating to £4.2 billion nationwide. Known as ‘zombie’ accounts, they are generally formed when we open or switch to newer banks or building society accounts, and forget to move money out of old ones. But while this money could easily be retrieved in minutes - millions of us don't know they exist. In a poll by MoneySupermarket, the majority of people with dormant accounts said they 'did not get around to closing a previous one down'. One third of this group said they switched solely for the rewards - 8% specifically for a better overdraft. But it could cost you. Generally, current accounts have lower interest rates than a savings account, meaning that you could be missing out on potential savings by leaving money in such accounts. Forgotten money - how does it happen? A bank may deem an account as dormant after a period of prolonged inactivity. After this point, they may send out letters to … [Read more...] about 10million Brits sitting on £411 each in ‘forgotten’ money
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VIAGOGO has changed the way it displays prices after the advertising regulator said it was misleading customers. The website was in hot water for listing ticket prices without mentioning compulsory booking fees and VAT. It was one of several websites which told by the Advertising Standards Authority (ASA) to stop displaying prices without expensive additional fees listed. But Viagogo has now joined the other ticketing websites in making the requested changes. As such, the advertising watchdog has withdrawn its referral of the ticketing website to National Trading Standards. Despite this, the beleaguered website is still being taken to court by a government watchdog for failing to implement a laundry list of changes to its policies. Viagogo slammed over Ed Sheeran cancer benefit concert tickets at PMQs The Competition and Markets Authority issued court proceedings last month against Viagogo to bring an end to its other dodgy ticketing practices. Viagogo has been accused of … [Read more...] about Viagogo promises to tell you the ‘all-in’ ticket price amid on-going court action over its unfair sales practices
The U.K. credit market has begun to take notice of Brexit. Prices of corporate bonds in sterling have fallen behind similar euro and dollar securities as investors begin to price in the possibility of the U.K. crashing out of the European Union.Investment-grade debt in pounds has failed to ride a credit rally in recent weeks, with spreads widening 3.5 basis points while comparable euro and dollar bonds tightened, data compiled by Bloomberg show, signaling investors are seeking a premium to hold sterling debt.Concerns of a disorderly exit are growing after the U.K. government and the European Union brace for talks critical to the next stages of Brexit. The chance of the U.K. dropping out of the European Union without a deal is “uncomfortably high”, Bank of England governor Mark Carney said today, and there are just 11 weeks to go until a self-imposed deadline to get a divorce deal signed.“Volatility in U.K. fixed income markets will soon return as the summer period … [Read more...] about Corporate Bonds are Finally Waking Up to Britain’s Brexit Risks
PUBLISHED: 12:18 15 January 2016 | UPDATED: 17:11 15 January 2016 Sam Gelder A fraudster has been jailed for stealing more than £13,000 from a wheelchair-bound woman, leaving her unable to pay utility bills or call her carer. Jamie Weedon, 24, was sentenced to 22 months in prison at Snaresbrook Crown Court last week. He befriended the 48-year-old victim, who also has hydrocephalus – a build-up of fluid on the brain – in a Harold Hill cafe near his home in Dewsbury Road. Over the next 18 months Weedon visited the woman’s home and persuaded her to withdraw cash for him. She also allowed him access to her bank card, PIN and online banking. In July 2013 Weedon conned her into cashing in her £9,000 in premium bonds to fund a bogus jewellery business he claimed to have set up online. This led to the victim’s phone line being cut off, which she needed to access her Care Line. She was also left unable to pay other utility bills and it wasn’t until … [Read more...] about Jail for Harold Hill fraudster who stole £13,000 from wheelchair-bound woman
TWO lucky Premium Bond holders have received a July windfall this year by scooping the top prizes in this month's draw. Here's what we know. Who were the July 2018 Premium Bonds winners? A man from Suffolk who bought his winning bond in June 2017 and a man from south west Wales will share the top £1million prize. The man from South West Wales becomes the fifth jackpot winner from the region since the £1 million prize was introduced in 1994. His winning Bond was purchased in March 2010 (Bond number: 166LV246433). They are the 389th and 390th winners of the £1million prize. How many people won in July's Premium Bonds draw? Premium Bonds is also paying out over three million other prizes to Premium Bond holders, ranging from £25 to £100,000. Jill Waters, Retail Director at NS&I, said: “I’m delighted for our two jackpot winners and all of our customers who are receiving a boost this month. Whatever you have won, get in touch through our … [Read more...] about July 2018 Premium Bonds winning numbers – have you won £1million cash prize?