More fivers in cash machines
Typical ATM - © Ian Britton FreeFoto.com
In a bid to get more £5 notes in circulation, HSBC are stocking hundreds of their ATMs with the notes. The trial is taking place in the Midlands and South West of England to begin with, but may be extended if it is successful.
It is estimated that £5 notes have a lifespan of around one year due to their popularity, the Bank of England is very keen to get more of these in to peoples pockets.
Section 75 and PayPal
PayPal
Under Section 75 of the Consumer Credit Act, if you make a total or partial payment of between £100 and £30,000 by credit card and the item isn’t delivered or there’s something wrong with it, you can make a claim against the retailer or your credit card provider. This means, if you pay a £200 deposit on your credit card for an item costing £5,000 and the item is not as described (misrepresented) then you may be able to claim the full £5,000 from your credit card company, if the retailer will not resolve the situation.
The major exception to this is if you pay for an item using a service such as PayPal or Google Checkout, Section 75 does not apply. PayPal acts as an intermediary and you are effectively funding your PayPal account with your credit card, then using those funds to purchase an item. As the payment does not go directly from the credit card company to the retailer, you lose your rights under Section 75.
If you have the option of paying a retailer directly or via a service such as PayPal, always go direct.
Don’t Cancel Your Insurance
When the time comes to tighten your belt, usually some of the first costs cutting victims are insurance products. However this can prove to be a false economy and could cost you more in the long run.
For most people insurances are taken out for a very good reason, to protect your loved ones, protect the pets, or even to protect the TV. Before you cut out an insurance product, think about the impact an uninsured event would have on your wallet and you’ll soon find that the premium you pay outweighs the savings you would make.
If you want to cut costs on things like your life insurance, it is far better to use some of the price comparison services to get a free quote to see if you could save money.
UK to Follow France and Germany out of Recession?
It was announced to the surprise of many analysts that France and Germany have seen a 0.3% quarter-by-quarter growth in their economies. This was partly attributed to car scrapage schemes and investment in credit-worthy businesses.
Speculation is that the UK should follow suit later on this year, partly aided by the recovering economies in the rest of Europe.
Make the most of your ISA allowance
6th October 2009 is an important day for the over 50s.
The Individual Savings Account (ISA) limit will be raised to £10,200 if you are above 50, £5,100 of that can be saved in cash. The uplift applies to the 2009-10 tax year. So if you fit in to this age bracket, now is a great time to start thinking about making the most of your tax-free savings.
There are bound to be some new ISA accounts launched to tie in with this increase, so keep an eye out for some great deals coming up.
Don't panic if you're under 50, the new limits will apply to everyone else from 6th April 2010.