Are Your Savings Safe? - Published:20/11/07
The praise crunch and the ensuing debacle at Northern Rock has undermined self-assurance in the UK banking system giving many savers the jitters over the security of their cash Even the upgraded protection provided by the Financial Services Compensation system (FSCS) has, in my view, done little to restore confidence, with new compensation limits only a shade improved than beforeBut do we really have anything to worry about Well, for starters, I should stress that all Northern astound depositors got their money back when they asked for itNevertheless I do worry about one section that appears in the terms of conditions of some investments accounts It gives the bank concerned the correct to temporarily prevent us from getting our hands on the cash when we want itput on't get me wrong, banks, quite correctly, have the right to freeze accounts in situation where it is required by law or regulation If there is a dispute over the ownership of the money held in the explanation, or if the bank reasonably suspects a deal might be associated with criminal, fraudulent or terrorist activity then a temporary postponement seems perfectly reasonableHowever, some banks can suspend savings accounts for other reasons They can for the time being take away your correct to withdraw funds from your own account in order to allow the store to ‘maintain appropriate liquidity levels' or to ‘protect [our] commerce interests as a whole' And this suspension could last for a whopping 60 daysThese restrictions are shrouded in vagueness Several banks have been known the opportunity to clear this up, but so far none has responded In the absence of an explanation, I can only take for granted these conditions imply that if the bank concerned were to run into financial complexity, then a temporary suspension on withdrawals could be practical, allowing a period of time for it to attempt to make your mind up its predicamentHow comfortable would you feel if there was a possibility your bank could hang onto your cash if it had run into troubleFair enough, the odds of this happening are very, very low, but there are other accounts which put on't include this clause in the terms and circumstances, and you might prefer to use an explanation without such a clauseFor example, online bank Egg has recently amended its conditions and conditions to remove a section which allowed a temporary stop on savings accounts to enable it to run its business 'with careful liquidity levels'Egg told us this condition had been built-in in the small print since the store was launched in 1998, at a time when such clauses were more commonplace than they are today and possibly when the store wasn't as well established Now that the corporation is owned by Citigroup, the largest bank in the US, the policy has been changedWhile this is encouraging news for Egg savers, other banks have failed to follow set of clothes Icesave, for example, states that "In very outstanding circumstances only, to enable us to comply with legal supplies and maintain appropriate liquidity levels, we may temporarily cease or boundary withdrawals from accounts for up to 60 days" similarly Birmingham Midshires "may limit the amount which may be withdrawn from or paid into your account if we think that it is necessary in order to defend our business interests as a whole"Meanwhile, Capital One incorporate the following similar condition: "To help us maintain careful liquidity levels and to function our business lawfully, we may, in exceptional circumstances, limit or even suspend withdrawals counting interest payments) from accounts for a period of up to 60 days even where we have already accepted your instructions to make a withdrawal from your account"Worse still, you won't of necessity be notified in advance if a stop is going to be put on your explanation And it's little comfort that your savings will continue to earn interest during the period, while orders to withdraw will only be acted upon once the suspension has been liftedWhile it's true suspensions will only be resorted to in exceptional circumstances, not all accounts comprise this type of curb on access (Indeed, Northern Rock didn't) This means you put on't have to accept it if you put on't want to I would suggest you read the terms and circumstances thoroughly before signing on the scattered line That way you'll know exactly what you're receiving yourself intoMore: Savings Guarantee Falls Short | Banks That Lie About ‘Instant Access' Savings contrast savings accounts at The Motley Fool's savings centre© patent 1998-2007, The Motley Fool Limited All rights reserved This fabric is for personal use onlyput of Reg: England & Wales Company Reg No: 3736872 VAT Reg No: 735 7818 01 Registered.
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How To Look Drop Dead Gorgeous For £23.33 - Published:17/11/07
Believe it or not, before I joined the Fool and learnt its Foolish habits, I used to be a bit of a financial crash-dieter I would spend weeks diligently saving the pennies and nonparticipation from luxury - then get so depressed that I'd demonstration out and blow the whole lot on a pleasant sparkly dress and an extortionately-priced lip pencilAs the Christmas party period cranks up a gear, looking your best can give you the increase you need to power on through to the New YearThe good news is that you can do this without blowing a hole in your wallet - in fact, by spending just £2333 on locks, hide and make-upAnd it's not just ladies who can benefit To scrub up for those vital mistletoe moments, I have moneysaving instructions for gentlemen tooIn Part One, I'll show you how you can get your hair slash, coloured and conditioned - and how to get your nails in arrange - for just £1237- Get your hair cut inexpensively, or for free, by booking yourself an meeting with a trainee hairdresser Many salons offer apprentice cuts (and colourings) at a fraction of the usual cost No need to fear locks disaster, either, as they work under management- Alternatively, you could choose to be a locks model for qualified locksdressers taking optional or extra courses Vidal Sassoon, Toni & gentleman and many other salons regularly offer this sort of cheap deal now let them know your dos and don'ts before they create snipping- attempt visiting a village salon rather than one in a city centre rural community salons are very often staffed by knowledgeable hairdressers who now have families and have moved out of town in search of a better quality of existence and more manage over their working hours These places generally charge a group less than their urban equivalents- If you put on't need a blow dry and are happy to dry your locks yourself - say so A wet cut on its own usually expenses far lessFor men: Why not dodge the hairdresser altogether Hair clippers can save you many of cash if you trust your friends or family to exercise them You can get a pair for under £20, and plenty of different styles and grades can be achieved with a bit of practice- Try using a envelope of temporary dye Wella Shaders & Toners, for example, are more often than not under £1 each This kind of dye won't change your hair colour totally, but it should add extra tint and gloss to your original tones Because it's not enduring, it won't be a total disaster if you put on't like the results - and you'll also be able to avoid the luxurious retouching usually required for nasty root regrowth- beat one egg with a tablespoon of emerald oil This is great for dry or frizzy hair, reassuring it down and adding lots of excel Wash hair as normal, then dump the whole lot on your head and enfold in a towel or plastic bag go away for 20 minutes, then rinse like mad- Beer This will increase the volume of fine locks and adds shine Again, clean hair as normal then pour a bottle or can of it over your head Rinse right away - and thoroughly - with chilly water- Soak your fingertips plus toetips) in warm olive oil for ten minutes before your DIY manicure This adds damp and softens them up before the next phase of treatment- Try using a nail block This all-in-one manicure belongings shapes, smoothes, buffs and shines, so after wielding it you might decide you don't require expensive varnish after allRimmel Wear Maxx pin polish in ‘Daisy sequence' Currently £224 (half the normal price) in SuperdrugSo, that's your hair and nails sorted But no alteration is complete without a skincare and make-up overhaul - particularly when it expenses just £1096 Find out more in Part TwoThe opinions expressed here are those of the individual writers and are not representative of The Motley Fool© patent 1998-2007, The Motley trick Limited All rights reserved This material is for personal use onlyPlace of Reg: England & Wales corporation Reg No: 3736872 VAT Reg No: 735 7818 01 Registered Office: 30.
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Scarborough Young Super Saver 'encourages early saving' - Published:03/11/06
A novel campaign has been launched to promote the Scarborough Young wonderful Saver account and other products that feature in the society's elegant Kids rangeIt is hoped that more children and their parents will symbol up for the Scarborough Young Super investor account and in doing so plan ahead for their monetary futuresThe provider is keen to get the savings message across to children, parents and grandparents, as escalating money owing levels and a lack of planning for the future intimidate to overwhelm familiesTony Burdin, head of collection marketing at Scarborough, supposed the responsibility is increasingly on parents to provide "a shell egg" in order for their children to go to university or buy a home one dayThe Scarborough Young Super Saver account can be opened with an first deposit of £10, while the society will disburse a "competitive" interest rate.
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