Category Archives: Banking
When I worked in a bank I noticed that my customers from different generations had different approaches to managing their money.
While the older guys steered clear of credit cards and loans, the younger ones wanted internet access to their accounts and as many cards as possible. There was also a less obvious difference that it took me a while to spot.
Package bank accounts can sometimes seem appealing, although it’s an extra monthly expense, they include all kinds of useful extras including mobile phone insurance, higher interest rates, travel insurance and interest-free overdrafts. However, if you have one of these accounts but the added extras don’t apply to you then you may have been mis-sold the account, and therefore be entitled to a refund of £100s – possibly even £1,000s.
Many people would associate offshore banking with practices such as tax avoidance, tax evasion or hiding money from your spouse. Actually though, the reasons why most people decide to set up offshore bank accounts are much less sinister than that. Here are a few legitimate reasons why someone might consider setting up an offshore bank account and perhaps why you might think about setting up an offshore account yourself.
CHAPS payments are something which most people have heard of at some point in time, but do you know what they are and in what situation a CHAPS payment might be useful?
There was once a time where the only place to get financial advice from an expert was at the local branch of a bank or building society. However, as technology has become more portable, accessible, affordable and more sophisticated, many people are looking to other sources for advice on what to do with their hard-earned cash.