Banking customers given cash machine security tips - Published:16/12/07
Banking customers have been known a host of tips on how to avoid becoming the victim of an attack at a money machineThis week, the government released details of the latest British offense Survey, which showed that instances of personal theft had greater than before 14 per cent in the three months between July and September 2006And to keep away from becoming a victim, UK payments association Apacs has suggested that people should guide clear of suspicious money machines and alert the banking institution concernedMeanwhile, consumers have also been urged to shield the keypad with their free hand when typing in a pin figure and to tear or shred any statements that they get printed at the mechanismSandra Quinn, director of communications at Apacs, explained that these simple events could help to reduce the offense figuresWhile acknowledging that most withdrawals are free of incident, she warned: "Cardholders still require to be aware of the common intelligence steps to take when you use a cash mechanism"These guidelines are designed to provide helpful tips and advice on how to minimise the risk of becoming a victim of this type of crime"The British Crime review began in 1982 and involves questioning confidential householders about their experience of.
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Don't Be Robbed By Your Bank! - Published:06/12/07
One of The Fool's most popular monetary sayings is switch and put aside Of course, the whole idea behind jumping ship is to get better your lot, either through better service or superior financial benefitsFor example, we habitually encourage trick readers to switch to a new-generation current explanation That's because the old-style bank accounts which most of us stick with offer very poor worth for money Indeed, five in nine current accounts (55%) disburse interest at a pitiful 01% a year on praise balances Thus, on an average balance of £1,000, you'd make a paltry £1 in interest over the course of a day -- and that's before the taxman takes his cutAnother problem with customary current accounts is that they charge horribly high interest rates on overdrafts, and levy ridiculous penalties on unapproved borrowing Therefore, you need to walk carefully when trawling the market for a better current explanation, because there are many pitfalls lurking in the little print Here are three devious tricks to watch out for:We Brits are famously reluctant to button current accounts Indeed, some pundits claim that a married pair is more likely to divorce than switch banks Thus, in order to give confidence us to vote with our feet, banks present very generous rates of interest to those customers who are eager to change overSadly, these initial ‘teaser' or lure' rates often don't last, and are replaced with inferior rates, usually after a year Have a look at the table below:As you can see, the top four accounts present great rates for a year or so, but these do fall to more modest levels For instance, a balance of £1,000 would earn yearly interest as follows:Abbey customers face the most horrible deal after one year, when their credit interest rate drops by almost seven-tenths (69%), from 8% to a mere 25% Customers of A&L face a speed cut of over a district (27%); for Lloyds TSB switchers, the drop is just over a third (34%) On the other hand, Halifax HICA customers earn a high, continuing rate of 617% a yearSo, if you're preparation on having a long-term relationship with your new current account, then be certain to look beyond temporary teaser ratesAnother trick which current accounts use is to pay a far above the ground rate of interest on balances up to a certain level Beyond this threshold, the interest rate is generally awful, as my next bench reveals:The Coventry BS First account easily trimmings my list, because it generously pays its top rate of interest on up to a district of a million pounds A&L, Lloyds TSB and Halifax disburse their highest rate on only the first £2,500; Abbey has its thresholds at £2,500 for switchers and a meager £1,000 for those new to banking So, if you plan to keep more than £2,500 in your account for an extended era, then the Coventry First account is your best betBanks don't want to give their best, most tasty headline rates to any Tom, Dick and harass In fact, they aspire to cherry-pick the finest customers from other banks in order to maximise profits from their new eating One way that they do this is to pay high rates of interest exclusively to customers who deposit a certain amount each month Here's a table of minimum monthly funding supplies:Accordingly, if you put on't pay at least £1,000 into your account each month (or £500 leaving to A&L), then you won't qualify for the high rates of praise interest shown in my first bench So, if you don't want to go back to earning a pathetic 01% a day while in the black, then be sure to meet the above financial support requirements -- or look elsewheregratitude to a beefed-up Banking Code, it's never been easier to switch current explanation Furthermore, most banks operate a dedicated switching service to make belongings easier for novel customersThe answer is: it largely depends on your personal circumstances When credit-scoring potential borrowers, banks award additional points to those customers who've been with one bank for a extended occasion However, the effect of switching banks is likely to have only a trivial effect on your overall praise score Indeed, your housing rank, income and the length of time you've been in your present work will carry far more weight So, don't let credit doubts put you off from switchingMore: Use the trick to find first-rate current accounts and savings accounts | Earn 7% If You're Over 50© patent 1998-2007, The Motley Fool incomplete All rights reserved This material is for individual use onlyPlace of Reg: England & Wales corporation Reg No: 3736872 VAT Reg No: 735 7818 01.
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Banking customers could benefit from internet banking, following study - Published:13/06/07
Some two-fifths of people have gone past their agreed overdraft limit in the last year, according to a new study, in news that may concern a number of banking customers.
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