Nationwide Loyalty Two Year Fixed Rate Bond

Written by Karen Bryan

natiowide signNationwide have got me ranting again. My anger erupted at the lowering of the rate of interest paid on the Nationwide Loyalty Saver at a time when the building society reported a 54% increase in annual profits.

Today, I received an email promoting the Nationwide Loyalty Two Year Fixed Rate Bond, which pays a rate of 2%. That is 0.2% higher than the 1.8% rate paid on the standard Nationwide Two Year Fixed Rate Bond. However, anyone can earn 2.16% interest with a Chartered Savings Bank Two Year Fixed Rate Bond.

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Why I’m Put Off Giving to Charity

Written by Karen Bryan

donate nowI’m being put off giving to charity. This is due to the ensuing steady stream of letters asking for more money that follow making a donation.

Several years ago, instead of giving my Dad a Christmas gift, I made an online donation to his charity of choice, Help the Aged (now merged with Age Concern to become Age UK).  Since then, I’ve been receiving regular letters asking for further donations.

The same continuous follow-up happened when a couple of years ago, I made an online donation, equivalent to my hourly rate of pay, in an end of year fundraising campaign by Sightsavers.

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My Money Podcast #116

Written by Karen Bryan

The My Money Podcast #116 summarises the recent Help Me To Save articles below.

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Barclaycard 28 Month 0% Balance Transfer Credit Card – This credit card offers 0% for 28 months on balance transfer with an effective balance transfer fee (after refund) of 1.35%.

TSB Platinum Purchase Card – This credit card offers 0% on purchases and balance transfer for 13 months. The balance transfer fee of 1% is refunded to TSB current accounts holders. This could be a good time to open a TSB Classic Plus Current Account, as you can get a £100 switching bonus £100  if you open this account by 28 June 2015 through Money Saving Expert or MoneySupermarket, and then switch to the TSB current account.

Why Has Vodafone Charged Me an Early Cancellation Fee? – I was annoyed that Vodafone charged me an early cancellation fee of £1.04 when I had given the required 30 day notice before the end of my 24 month contract.

If You Can Open an Account Online You Should Be Able To Close It Online – Although I opened my Halifax Regular Saver account online, according to the letter I received one month before the account maturity date, I could only close the account by visiting a branch.

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If You Can Open an Account Online You Should Be Able to Close It Online

Written by Karen Bryan

Halifax logoI received a letter from the Halifax reminding me that my Regular Saver Account matures next month.

The Halifax Regular Saver allows you to save between £25 – £250 a month, for 12 months, at a fixed rate of 2%. On the anniversary date, the full balance is transferred to a Halifax Everyday Saver account and a new 12 month Regular Saver begins, paying the rate of interest applicable on the date which the new account starts.

That’s annoying, as how can you decide if you want to continue the Regular Saver Account for another year, if you don’t know in advance the rate of interest which will be paid.

In the letter, it stated that if you decide not to continue with your Regular Saver Account, you need to make an appointment in a branch, before the account anniversary date, in order to close the account. I think that’s ludicrous. I opened the account online, so why am I not able to close it online?

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TSB Classic Plus Account Offers £100 Switching Bonus

Written by Karen Bryan

fan of £10 notesThe TSB Classic Account offers an £100 switching bonus through a promotion run by Money Saving Expert or MoneySupermarket.

You need to open a TSB Classic Plus Current Account by the 28th June 2015 and complete the switch by 28 July 2015. You must pay in at least £500 to the new TSB account within 30 days of the switch. You also need to register for internet banking and paperless statements, plus register a minimum of two active direct debits.

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Review of TSB Platinum Purchase Credit Card

Written by Karen Bryan

tsb platinum balance transfer cardThe TSB Platinum Purchase Card looks like a reasonable deal for holders of a TSB current account. This credit card offers 0% on both purchases and balance transfers for 13 months. The 1% balance transfer fee, for transfers made within the first 90 days, is refunded to TSB current account holders.

While other credit cards may offer longer 0% periods for purchases and/or balance transfers, they generally charge a balance transfer fee and/or an annual fee.

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Why Has Vodafone Charged Me an Early Cancellation Fee?

Written by Karen Bryan

vodafoneI was waiting to receive my final bill from Vodafone to check if the refund of the £8.75 monthly discount which they withdrew in the final month of my 24 contract would materialise.

I was angry that Vodafone did this, and even angrier that it took around one hour using online chat for Vodafone to agree to the refund. Initially, I was told that it is standard practice to withdraw the discount for the last three months of the contract, and that I was lucky to have received the discount for the previous two months.

When my final bill arrived, the £8.75 refund was there, but Vodafone had slapped on a £1.02 charge for cancellation prior to the contract end date.

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Scottish Friendly Takeover UK’s Oldest Active Registered Company

Written by Karen Bryan

scottish friendly logoScottish Friendly, the largest financial mutual in Scotland, has taken over Marine and General Mutual (M&GM).

This acquisition has doubled the assets held by Glasgow based Scottish Friendly to around £2 billion.

What makes the takeover noteworthy is that M&GM was the oldest active registered company in the UK, trading as a mutual since 1852. Its registration number was 00000006; the five preceding companies are no longer trading. M&GM was originally the UK Temperance & General Provident Association, offering life assurance to sailors, whilst discouraging the consumption of alcohol at sea. M&GM’s customers had included passengers aboard the Titanic, which sunk in 1912.

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Review of Barclaycard Platinum 28 Month 0% Balance Transfer Credit Card

Written by Karen Bryan

barclaycard platinum credit cardThe Barclaycard 28 Month 0% Balance Transfer Credit Card offers 0% interest on balance transfers for 28 months. There is an effective balance transfer rate of 1.35%. Initially, you are charged a 3.5% balance fee, then a refund of 2.15% is made within two working days, bringing the fee down to 1.35%.

I can never understand this partial refund of the balance transfer fee nonsense. Why not just charge 1.35% and keep it simple?

As ever, with credit card 0% offers, you need to ensure that you have the cash ready to pay off the full balance just before the end of the promotional rate, to avoid paying any interest on the balance. You also need to pay the minimum balance every month, or the promotional rate may be withdrawn.

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My Money Podcast #115

Written by Karen Bryan

The My Money Podcast #115 summarises the recent Help Me To Save articles listed below.

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