Check First Direct Debit Payments for New Credit Cards

Written by Karen Bryan

post office credit card Check First Direct Debit Payments for New Credit CardsWhen I received my Post Office Credit Card I phoned Customer Services to arrange to do a 0% for 18 months balance transfer. During the same call, I requested that a direct debit be set up to pay the minimum amount (5% of the balance).

The customer service rep advised me to check that my first statement said that payment would be made by direct debit. If the direct debit wasn’t mentioned on that statement, I would need to make the first payment manually.

I received a letter dated the 16 July 2014 to confirm that the direct debit had been set up. I also logged into my Halifax Reward Current Account to checked that the direct debit was listed.

In my first statement, dated 17 July 2014, it stated that first direct debit for the minimum balance would be paid by direct debit on 11 August 2014.

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Things You Didn’t Know About Wills

Written by Karen Bryan

will Things You Didn’t Know About WillsMaking a Will is one of the most important things you can do in your life, but, there are some things that people need to be aware of when it comes to a Will. Certain legalities need to be looked into to avoid confusion after you have passed away.

Even in the Modern Age Paper Formalities are Still Law

With the Wills Act 1837 and the Inheritance (Provision for Family and Dependants) Act 1975 still being in force, it is necessary for a Will to be committed to paper. This reflects a common complaint that the laws that govern Wills and Testaments have become somewhat antiquated. This is especially true in an age in which tablets, smartphones and electronic copies of documents are increasingly taking precedence.

In every case, it is also necessary for two witnesses to be present to watch you sign the Will. They must also sign the document to declare that they have done so in your presence. Many find the maze of legalities and terminology involved in making a Will confusing. Saga’s jargon buster is great for helping you to understand the relevant terms.
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Review of BT 6500 Digital Cordless Phone

Written by Karen Bryan

bt 6500 phone base set Review of BT 6500 Digital Cordless PhoneWe were finally prompted into replacing our two old corded landline phones with cordless phones when my husband read about the benefit of nuisance call blocking on the BT 6500 Digital Cordless Phone, which includes an answering machine.

We thought it’d be good to be able to use the landline phone in different rooms in the house and in the garden.

We’d been using the BT 1571 answering service. However, as you only know if you have a message when you hear a different tone upon lifting up the handset, we often didn’t pick up messages for days. Whereas with an answering machine a flashing light in the unit alerts you to messages.

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Too Many Instant & Easy Access Saving Accounts Have Restrictions

Written by Karen Bryan

yello piggy bank close up 150x150 Too Many Instant & Easy Access Saving Accounts Have RestrictionsI’ve observed a growing number of easy/instant access accounts which have restrictions such as limit to the number of withdrawals you can make, featured in the best buy tables.

An example is the United Bank Online Easy Access Account which pays 1.4% variable, but only permits one fee-free withdrawal per month. There’s a fee of £1 for each additional withdrawal in a single month. The account requires a minimum initial deposit of £500. When I looked at the United Bank website it’s proclaimed in large letters at the top of the page that this account offers unlimited withdrawals.  You need to scroll down the page, where in the summary box, in much smaller writing, it mentions that only one withdrawal per month is free of charge. To me, when I see unlimited withdrawals, I don’t expect to have to potentially pay to withdraw my cash; an easy/instant access account should do what is says on the tin i.e. give me access to my money when I need it.

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Win £100 for Your #ThriftyFamily Video

Written by Karen Bryan

£1 coin stack3 150x140 Win £100 for Your #ThriftyFamily VideoScottish Friendly are offering a £100 My Rewards card prize for the most creative and original money saving tip video in their #ThriftyFamily campaign.

All you have to do is upload your money saving tip video to your favourite video sharing website, e.g. YouTube, Vine or Instagram before 20 September 2014, and then share it using the #ThriftyFamily hashtag. The winner will be notified by 25 September 2014.

So get out your mobile phone and start filming. You can enter as many videos as you wish.

Below is my video about saving money by using cashback sites.

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My Money Podcast #91

Written by Karen Bryan

The My Money Podcast #91 summarises the following recent articles.

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Free Overseas Debit Card Use With N&P Gold Current Account – This N&P account offers free overseas debit card usage for transactions and cash withdrawals if you pay in at least £500 a month or maintain a minimum balance of £5,000. If you don’t meet one of these conditions, there’s a £5 a month account fee.

Would You Think of Buying a Phone at Homebase? – The lowest price I could find for a BT 6500 nuisance call blocker cordless phone twin pack was at Homebase.

Low Prices and Free Delivery from ao.com – We’ve recently bought two new kitchen appliances from ao.com which offered the lowest prices and free next day delivery.

Free Doors Open Days in Scotland in September 2014 – You can have some great free days out during the annual Free Doors Open Days held every weekend in various regions of Scotland.

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Free Doors Open Days in Scotland during September 2014

Written by Karen Bryan

open doors days Free Doors Open Days in Scotland during September 2014During every weekend in September there are free Doors Open Days in various regions in Scotland. Many of the venues aren’t always open to the public, so it’s a great opportunity to do something different.

I’d advise you to spend some time organising your day out as some venues are only open on one of the two days and/or require advance booking of a guided tour.

Below is a list of the participating Scottish regions by date.

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Review of Paragon Bank 120 Day Notice Account

Written by Karen Bryan

paragon bank Review of Paragon Bank 120 Day Notice AccountNotice savings accounts are a half-way houses between instant access and fixed rate savings accounts. A notice account usually offers a higher rate of interest than an instant access account in exchange for a notice period to withdraw cash.  I think this can be a good product if you don’t want to tie up your cash to get a higher rate of interest offered by a fixed rate account.

My concern with some notice savings accounts was that if the rate of interest is reduced your cash could be tied into the account at the new lower rate. However, the Paragon Bank 120 Notice Account states that “If we want to reduce your rate, we’ll give you 120 days notice of any changes”. The account currently (26 August 2014) pays a variable rate of 1.9%. That rate is looking competitive, given that the highest rate of interest I could find on a one year fixed rate bond with the Yorkshire Building Society was 2%. However you have to factor in that the 2% paid on the Yorkshire account is guaranteed. The highest rates on open-to-all instant access accounts are currently around 1.4%.

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Club Lloyds Monthly Saver Pays a Fixed Rate of 4%

Written by Karen Bryan

 Club Lloyds Monthly Saver Pays a Fixed Rate of 4%Some of the highest rates of interest on savings are available on regular savings accounts. Last year I opened a Norwich and Peterborough E-Regular Savings account which paid a fixed rate of 4% with a maximum deposit of £250 per month. I liked the fact that this account was open to all, as frequently you need to hold a current account with the institution to access their enhanced rate regular savings accounts.

I thought I’d open a new regular savings account with the Norwich and Peterborough (N&P) when that account matured. However, I read that you now need to have a current account with the N&P to be eligible.

The Nationwide Monthly Saver pays a variable rate of 2.5% on monthly deposits of £500 – £1,000. The upper limit is much more generous, but the rate of interest is lower, than on many regular savings accounts.

The Club Lloyds Monthly Saver looked alluring, It pays a fixed rate of 4% for the first 12 months. You can make a monthly single deposit of between £25 – £400 by standing order. plus you have instant access to your cash. The catch is that you must hold a Club Lloyds Current Account to apply for this monthly saver account.

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Review of Annuity Line

Written by Karen Bryan

logo annuityline Review of Annuity LineAs my husband had received the best quote from Annuity Line when buying an annuity, I decided that I’d definitely be contacting them when the time came for me to look at pension income options.

As I’d already consulted with an online independent financial adviser and done a lot of personal research, I was happy to use a non-advised broker such as Annuity Line.

There was an additional incentive to try Annuity Line, as my husband was told that if he recommended their services to a family member or friend who proceeded to purchase their annuity through Annuity Line, then both he and the referee would receive £75 worth of M&S vouchers.

You could earn £75 in M&S vouchers if you quote my client ref 138927 when you contact Annuity Line, either by phone 0800 652 1316 or by email info (at) annuityline.co.uk to get a free, no obligation quote and then go on to buy your annuity through them. This is subject to annuity purchase funds of £18,000+. I will also receive £75 in vouchers as a referrer.

annuity line MS vouchers Review of Annuity Line

I’d decided that even with the changes to accessing a personal pension in the March 2014 Budget, I would nevertheless proceed with the purchase of an annuity. I believed that there was a possibility that annuity rates would drop in response to this change.

 

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