Time for banks to serve their customers

Banks are holding on to their money once again. Interest rates were raised by the Bank of England last month and the banks increased their variable interest mortgage rates within minutes but we tens of millions of savers are still waiting for some improvement in our interest rates. Meanwhile credit card interest rates are at their highest since 1998 and overdraft rates are almost uniformly at 40%. At the same time hundreds of thousands of leasehold flat owners are stranded unable to sell or re-mortgage because banks are too frightened to loan on properties that have cladding. The government has […]

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Getting ready to charge us more

The banks have started sending out letters. The first batch warned that credit card customers would have to pay more each month and in some cases that their credit limits were being reduced. Breach those and penalties have to be paid. Interest rates also average 24% even though bank base rates are still at 0.1%. Meanwhile latest letters warn that agreed overdrafts are to be reduced often by £1,000 or more. All this before the Bank of England has decided whether inflation currently 4.2% CPI and 6% RPI will be tamed by interest rate rises. Having already withdrawn the cheapest […]

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Don’t let banks put us in danger

When my bank left town I did not think too much about it as I use its Internet service. But now I realise it has put me and many others in danger. I need to transfer a large amount of money to a solicitor . Last time I did it the branch organised the process and charged £25. Now with “Friday Fraud” a growing thing where thieves hack into accounts and send messages changing bank account details to people about to complete on properties or needing to pay a builder we need our banks to protect us. Unfortunately that is […]

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Stay calm and shop

Empty shelves and Christmas shortages are worrying many shoppers as the supply chain crisis encompasses cleaning products, toys and chicken. It is not time to panic buy, but to plan ahead and settle for less. Shops have more to worry about than customers as container and delivery costs spiral, and their stock is delayed half way round the world, just as they were wanting to make up for the revenues they lost during lockdown. Shoppers have to be careful if they want to splash the cash with their contactless cards, which now have a limit per spend of £100. Keep […]

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