This week | MARTIN'S QUICK BRIEFING: For more tips, alerts & awful puns, follow Martin on Twitter Bank a b*****d? Don't get mad, get minted
Gain £100s, reclaim fees, improve service & ethics with 10 must-knows 2012 was another banking annus (spell carefully) horribilis with the Libor scandal, RBS/NatWest screw-up and more. As we're in new year resolution territory (just), don't whinge, leave & put cash in your pocket while you do so. | 1. | New. Reclaim £100s of packaged account fees. While a £10-£25/mth fee doesn't sound much, it's £120-£300/yr. Worse, the regulator, the FSA, says the insurance included can be "useless", or totally unsuitable.
Of course, done right, these accounts can be serious MoneySavers (see point 5). Yet there are millions who get no gain and should cancel, plus thousands may have been mis-sold and can get money back, like MoneySaver Borderlander...
"Wrote to my bank after reading your item - 4 weeks later and it's just credited my account with £863, the whole amount I had paid since opening."
What counts as mis-selling? Most common is the extra insurance didn't actually cover you - eg, the travel insurance had an age limit and you're older - or a fee was added without you realising. If that's you, read our new guide & template letters: Reclaim Mis-sold Packaged Account Fees | | | | | 2. |  Switching isn't the hassle it was. Banks' switching services move direct debits and standing orders for you. Just tell those who pay you (eg, employers) the new details. My tip is keep your old account open for a few months, with minimal funds, as a back-up. | | | | | 3. | £125 to switch to best customer service account. If your bank doesn't treat you right, consider First Direct*. It's smashed every customer service poll we've done - 91% rate it 'great'. Right now it's giving new switchers £125 (normally £100) though you need £23,500 min income.
Plus it gives 0% on overdrafts up to £250, 15.9% above. While it doesn't pay interest if you're in credit, there's a linked 8% regular savings. If you don't hit the criteria, or for other options, see Best Bank Accounts. | | | | 4. | Get 3% bills cashback AND 3% on savings. Santander's 123* bank account pays 1%-3% cashback on water, council tax, Santander mortgages, energy, phone, b'band & TV bills.
Many typically earn £115/yr, but some £300, easily offsetting its £2/mth fee. Better still, keep £3,000-£20,000 in and you earn 3% interest, smashing best buy savings. Avoid its costly overdraft, though. See How 123 Works. | | | | 5. | The top premier account - huge insurance benefits. If you're going to pay a monthly fee for extras, the easy winner is the highly rated £9.50/mth (£114/yr) Co-op Privilege account. Its prime benefits are:
- Cover for up to 4 smartphones (incl iPhone 5s) in your family
- Family high-end worldwide travel ins, max age 79 (64, winter sport)
Assuming all this is suitable, buying separately would cost around £450. There's also its £13/mth Privilege Premier, which includes RAC European breakdown cover too. Full options in our Packaged Bank Account Analyser. | | | | 6. | Struggling to get an account? Basic bank accounts don't credit score you, but you need ID. When applying, ask for the account by name, or you often get the wrong forms and are then rejected. See Basic Accounts. | | | | 7. | Is ethical banking an oxymoron? As the ad says, you need a bank account, but not necessarily a bank. Ethical Consumer rates firms on the environment, human & animal rights and politics. Luckily, there are accounts where the Venn diagram of its top picks and ours overlap.
Building society Nationwide's* no fees account gives European travel insurance for one, up to age 73. The Co-op's* highly rated too, and its packaged accounts (above) are our top pick. Norwich & Peterborough gives cheap spending overseas. See Top Ethical Bank Accounts. | | | | 8. | Fed up with banks? Try a non-profit local credit union instead. There are 500 UK-wide and about 25 offer bank accounts, all do savings & loans. There's the same £85,000 per person protection as banks, and the Govt's just given £38m extra funding. Find your nearest in our Credit Unions guide. | | | | 9. | Shift your overdraft to 12mths 0%. If you're overdrawn, Halifax Reward offers a 12-month 0% overdraft, plus gives new switchers £100. Yet after a year, the overdraft charges jump to a huge £1-£3/day, so you'll need to switch again. If that's too much, there are alternative 0% overdraft options. | | | | 10. | Reclaim cash from old accounts. There are billions unclaimed in forgotten accounts (or those of deceased relatives). Check if you've Cash to Reclaim. | | |
And finally, speaking of 'is your bank a b*****d?', they're trying to shut down PPI reclaiming. If you haven't done it yet, act now. See PPI deadline below. |
Blagged for MoneySavers |
Did you miss? |
Reclaim PPI for FREE Claims handlers aren't more successful.
Free help & templates: Reclaim PPI |
MSE News |
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| Jan Money Makeover Special | Wed 23 Jan 2013 |
New App. Find hidden eBay local bargains
Finds 'pick-up only' deals with fewer bidders. It's a great time for eBay buying, as people flog unwanted gifts Whether they're DJ decks, kitchen knives, sofas or scooters, people's unwanted Xmas gift-flogging combined with other buyers' January skintness can mean a glut of lower than usually-priced items. And we can help you cut costs too:  Free eBay local deals mapper website & new app. eBay sellers often specify items must be collected. This means fewer competing bids & serious bargains. You can't search pick-up only on eBay, so we've built tools to speedily track 'n' map 'em.
- New free Android app. You wanted it, so here's the Android Local eBay Deals app. Let it pinpoint your location, tell it how far you'll travel and it shows nearby gems.
- Full website. The app joins our existing Local eBay Deals Mapper tool.
- Mobile website coming soon. For iPhones and other smartphones.
- 40+ eBay buying tricks. For more help tracking down hidden bargains, our updated eBay Buying Secrets guide lists tools which find underpriced goods, exploit listing errors, auto-bid to cheaply seal deals and more.
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| Family & Friends Railcard for £20 code (RRP £28) - GOT KIDS? IT'S A MUST. If you've a card, you and up to 3 more grown-ups get 1/3rd off travel for a year, if there's at least 1 child (max 4), and they get 60% off. See Cheap Trains. Whoop-whoop - Boots No7 glitch(ish) £19 cosmetics £5. In-store coupon stacking trick. Quick. Boots Deals £49 Oakleys with 25% off Sunglasses Shop code. MSE Blagged. Includes sale items & ski goggles. Sunglasses Get PAID £20 to check your FREE Equifax credit report. Why wouldn't you? Credit Rating |
Urgent. Reclaim PPI NOW - banks trying to shut the door
If you've had a loan/credit card in past 10yrs, act now. Banks are lobbying the regulator for a reclaiming deadline After a decade mis-selling PPI, the banks are now disgracefully asking the regulator to stop reclaims as early as next summer - even though few have sent the promised letter to those they mis-sold to. We're fighting this - Martin's already spoken to the FSA's boss. Yet just in case, Reclaim PPI For Free ASAP (see Banks' PPI deadline request MSE News story).  Help - I've a PPI question. Many fail to claim as they need answers to simple questions. To help, we've 60 PPI Questions Answered, eg, Q. I can't remember my lender. What do I do? A. It's on your credit file. Q. I've not got paperwork. A. Ask your lender for it. Q. Can I reclaim if in an IVA? A. Yes, but cash may go towards debt.- What counts as mis-selling? The seller needed to ensure the policy was suitable when you got it. Mis-selling examples: 1) Lying, claiming it was compulsory. 2) Adding PPI without permission. 3) Selling unemployment cover to the self-employed/students/retired people. 4) Not warning of pre-existing condition exclusions. See full Mis-selling Checklist.
- "We got £30,000." Here's some inspiration from Mary and Mike, who emailed: "A big thank you to MSE. We filled out one of your forms and got nearly £30,000, life-changing money." Of course, not all are that big.
- No need to pay to reclaim - template letters. Our PPI Reclaiming and Credit Card PPI Reclaiming guides include template letters and help, so you needn't give a claims firm 30% (£750 on a £2,500 claim).
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Urgent: 40% off Body Shop code & vch (includes 70% off sale). Valid until this weekend. Body Shop Deals Warning for freelancers & self-employed. Big new year reminder in Martin's Self-Employed Warning blog. Code for £14 hardback 50-page photo book (RRP £48) MSE Blagged. Or 90-page £19. 10k avail. Photo Deals 6 Nails Inc varnishes £19 all-in (RRP £11 each). Fri only, in a lucky dip (random colours). See Nails Inc Deals. |
Cheapest loans EVER - 5.1%
If you need to borrow, rates are even cheaper than before the credit crunch, short term 23mth 0% possible It's a super-cheap time to borrow, but only if you need it. By that, we mean a planned one-off like a home improvement or car - you've done a budget, can afford the repayments, will repay as quickly as possible and have a decent credit score...  Cheapest large loans - 5.1%. Quite simply the lowest rate we've ever seen, Clydesdale* Bank is 5.1% for £7,500-£15k loans. For £5,000-£7.5k, Sainsbury's 1-3yr loan* is 6.9% or 4-5yrs* is 7%. Sadly, like most loans, these are 'representative APR', meaning only 51% of those accepted need to get the rate advertised. Full help: Cheap Loans, (APR Examples)- Cheapest small 'loans' - 23mth 0% for a 4% fee. Loan rates for under £5,000 are hideous. Far cheaper are the few credit cards allowing money transfers, where a card firm pays cash into your bank account, like a loan, so you owe the card at a cheap rate instead. For a one-off 4% fee, MBNA* is 23mths 0% (it's 20.9% rep APR after, so ensure you repay by then). Or for a 1.5% fee, MBNA Rate For Life* is 5.9% until all the loan is repaid. There are pitfalls to watch, though, so read our Money Transfers guide first.
- Flexible loans. If you want to overpay or clear the loan early, peer-to-peer lending sites (effectively, they match up borrowers' and savers' money) are more flexible, and often cheaper than standard loans for smaller amounts. As rates are personalised, check Zopa* and Ratesetter for yours. Full help in Cheap Loans.
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| 2m+ driving licence photocards are expired. Check or risk £1,000 fine. While a paper licence is valid longer, photos need renewing every 10 years. Urgently check and renew if yours is one of them. Driving Licence Renewal Codes: Urban Outfitters 15% (incl sale), Debenhams 20%, Tesco £12 off and more...
Urban Outfitters 15% off incl sale code | Debenhams 20% off in newspaper and code | New Look £5 off £25 code
Sains £10 off £50 (new custs) code | Nike 10% off sale code | Tesco £12 off £60 (new custs) code. All: Discount Vouchers Spent your Christmas gift vouchers/cards yet? If not, do it ASAP, as then... 1) The retailer can't go bust on you, invalidating them. 2) You can't lose them. 3) You can't forget them until out of date. Full info: Gift Voucher Warning. |
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Car insurance now 24% cheaper for young men
Even if not at renewal, check NOW to see if you can slash costs - prices have done an all-change in a month The dust's settling from the 21 Dec EU 'gender equalisation' law that means all men and women must pay the same for car insurance, other things being equal. Young men's prices have dropped 24% in a month, young women's are up 22%, says Gocompare. Full help in our Young Drivers' Car Insurance or Cheapest Car Insurance guides. In a nutshell...  Check, even if not at renewal. Get a quote now. If much cheaper and you're not near renewal, check if it's worth cancelling your policy and starting anew. If you've not claimed, you get a pro-rata refund, but a £50ish exit fee & no no-claims for the year.- 7 tricks to minimise your price. Cut costs for young drivers and others.
1) Combine comparison sites. Our top two now are Confused.com* and MoneySupermarket*.
2) Add in the biggies they miss. Get quotes for Direct Line* and Aviva*.
3) Try adding an older 2nd driver. Even if they'll rarely drive, it can reduce average risk, therefore cost.
4) If you live with parents and they drive too, try Admiral's MultiCar* policy.
5) Don't just check 3rd party. Bizarrely, choosing comprehensive may cut costs as some assess you as a lower risk.
6) Paying monthly means they 'loan' you cash + interest. Pay upfront or consider a 0% credit card.
7) If those policies are too costly, try telematics (black box) pay as you drive policies. back to top ↑ |
| £15 off £50 Shell petrol if you've an Amex. Sign up to a smartphone app to get it. Step-by-step: Amex Deal Big energy switching cashback. Our Cheap Gas & Electricity guide has £50 cashback on a leading cheap fix, some cashback websites have deals of up to £140 this week. Don't just grab this cash, ensure it's your right tariff. Top comparison (cashback here too): Energyhelpline* £15 cash/switch. Dual fuel: MoneySup* £30 cash, uSwitch* 6 x wine. Free £10 A Place in the Sun London tix. MSE Blagged. Olympia, 12-14 Apr. See A Place in the Sun Deals. |
Shift Christmas credit card debts to 24 mths 0%
It's the week when most doormats groan, as Christmas credit card statements drop through the letterbox
If you can't clear credit cards, at least balance transfer to cut the interest. You get a new card to repay old card(s), so you now owe it at a cheaper rate. See Best Balance Transfers, here are the best buys. Also see debt help & APR Examples.
| Card | Intro offer | One-off fee | Rep APR after | | Longest 0% deals | | Barclaycard* | 24 mths 0% | 3.2% | 18.9% | | MBNA* | 23 mths 0% | 2.85% | 18.9% | | Capital One* - If poor credit | 6 mths 0% | 3% | 34.9% | | Lower fee, if you can repay quicker | | Barclaycard* | 21 mths 0% | 1.45% | 19.9% | | Lloyds* | 21 mths 0% | 1.5% | 17.9% | | NatWest* | 13 mths 0% | 1% | 17.9% | | Long term (lock in cheap rate for life of balance) | | MBNA Rate For Life* | 5.9% till fully repaid | 1.5% | 18.9% | - Balance transfer golden rules. a) Unless noted, these cards require a decent credit score. Don't apply otherwise. b) Repay at least the set monthly minimum, or you can lose special rates. c) Plan to fully repay, or shift again before the 0% ends, or rates rocket. d) Don't spend on these cards. That isn't usually at a cheap rate.
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| Beware: 'Money Expert' Debt Solutions is NOT us. The website Money Expert is calling people about "debt solutions". Please note that's NOTHING to do with us. MoneySavingExpert never calls - if in debt, get Free Debt Help. Free £4 convenience store lunch voucher. Ginsters slice, Coke and Activia Snackpot via app. Hot Bargains Forum Hottie. 75% off Xmas decorations, incl £1 tree. Only 336 shopping days till Christmas. Includes £1.22 Xmas tree (was £4.88), 36p baubles (£1.46) and £5 fairy lights (were £20). See Hot Bargains. MSE jobs available - features writer & paid intern. Based at MSE Towers, west London. See MSE Jobs.
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Restaurant vouchers | Discount vouchers | Top deals |
| The Moneysaving community |
 MONEY MORAL DILEMMA:
Should I ask my dad for the inheritance I'm owed?
This week's MoneySaver who wants advice asks... I inherited £5,000 10 years ago. My parents invested it in a property and said when it sold, the cash would double in value and I could have it at 25. I'm 26 and have found a house, but am £5k short on the deposit. My dad's trying to sell the property my inheritance is invested in, but wants way over market value. I don't care about the full £10k, I just want to buy a house. Enter the Money Moral Maze: Should I ask my Dad for the cash? | Suggest an MMD | View Past MMDs BOOK GIVEAWAY:
Book-keeping for Dummies. 25 blagged for MoneySavers. Want one? THE GREAT HUNT:
The Great 'Great Hunt' Hunt - what's your suggestion?
Each week, we seek to tap MoneySavers' collective knowledge on a wealth of different topics - from 'disguised own brands' to 'how to talk to kids about debt', and 'smell-alike perfumes'. So this week, we thought it only fair to ask which topics YOU want to explore. Suggest yours/read others': Future hunt suggestions Past topics: View all CHEAP FLIGHT SALES ALERT:
Airline: Aer Lingus Price: From £29.99 each way Ends: Fri 25 Jan 2013
Our pick this week is Aer Lingus's January sale. It's on till 11.59pm Fri 25 Jan and includes some taxes and charges. It's for flights from 14 UK airports to Ireland till Tue 30 Apr 2013. We found flights from Gatwick to Dublin for £35.99. To find flights quickly, use the FlightChecker. Extra charges warning: Avoid payment and check-in charges - see the Budget Airline Fee Fighting guide. Related: Cheap Flights, Cheap Hotels, Spending Abroad, Cheap Currency, Travel Insurance THE GREAT HUNT... REVEALED:
Are you a re-user - what items do you reuse for max value?
You found great uses for old packaging, plus items that have run their course, including vitamin containers to store screws and old Xmas cards for shopping lists. One MoneySaver swears by padded bra inserts for the perfect paint job. back to top ↑ |
Quick forum tips | Freebies |
Martin's blogs | Martin's appearances Thurs - Daybreak
ITV, 7.35-7.45am. Deals of Week.
Thurs - Radio 5
Radio 5, 12-1pm. Consumer Panel. Listen to past shows. Thurs - Tonight
ITV, 7.30pm. How much could you save? Thurs - Made of Money
BBC2 Scot, 10pm. Financial ed.
Mon - This Morning
ITV, from 10.30am. Car insurance. All Martin's appearances | Cheap travel money | UK's Best Currency Rates | | £100 will buy you: | | Best | Worst |  | € | 118.63 | 107.13 |  | $ | 157.71 | 143.16 |  | TL | 271.50 | 248.35 | | Rates correct at 4pm Tue | Find all top currency rates
Compare travel cash | |
This week's poll: Have you done your Christmas shopping yet? January is perhaps the cheapest time of year to do Christmas shopping - so have you been out buying presents and decorations?
Which of these is closest to your situation? | Poll resultsHow do you split the bill?
- 28% prefer to split equally
- 46% prefer to split, except when more/less eaten But what usually ends up is... - 50% split equally
- 32% split, except when much more/less eaten
14,347 voted. See the full results. |
Question of the week Q: Does Section 75 work with a prepaid credit card? Alan, by email. MSE Helen S’s A: No. Section 75 of the Consumer CREDIT Act says credit card companies are jointly liable with retailers for purchases over £100 - valuable legal protection. Prepaid cards don't involve credit, so aren't covered. They are covered by Visa / Mastercard chargeback (if provided by one of the two). Under chargeback, if you paid on one of these, your bank may be able to help get money back if goods didn't arrive or were faulty. You need to complain within 120 days of the problem. Please suggest a question of the week (we can't reply to individual emails). | Board of the week The Pets & Pet Care Board Share advice and tips on keeping pet care costs down. Discussions include Freezer crisis - what to do with frozen pet food? Advice on rehoming cats and Frontline alternative (for dogs)? |
 Archna's free game of the week: Vex |
Tigers attack snowmen. Staff at Longleat Safari Park built a couple of snowmen in the tigers' enclosure and filmed their reactions. The results were cat-astrophic (sorry). Tigers at play in the snow. We hope you save some money, Martin & the MSE team |
| Important. Please read how MoneySavingExpert.com works We think it's important you understand the strengths and limitations of this email and the site. We're a journalistic website, and aim to provide the best MoneySaving guides, tips, tools and techniques - but can't promise to be perfect, so do note you use the information at your own risk and we can't accept liability if things go wrong.
What you need to know This info does not constitute financial advice, always do your own research on top to ensure it's right for your specific circumstances - and remember we focus on rates not service. We don't as a general policy investigate the solvency of companies mentioned, how likely they are to go bust, but there is a risk any company can struggle and it's rarely made public until it's too late (see the section 75 guide for protection tips). We often link to other websites, but we can't be responsible for their content. Always remember anyone can post on the MSE forums, so it can be very different from our opinion. Please read the Full Terms & Conditions, Privacy Policy, how this site is financed and Editorial Code. Martin Lewis is a registered trade mark belonging to Martin S Lewis. MSE, Money Saving Expert, MoneySavingExpert and Moneysavingexpert.com are registered trade marks belonging to MoneySavingExpert.com Limited. More about MoneySaving Expert and Martin Lewis What is MoneySavingExpert.com?
Founded in February 2003, it's now the UK's biggest consumer help website with over 6 million people getting this email and nearly 10m using the site. In September 2012 it became part of the MoneySupermarket Group PLC. Its focus is simple: how to save cash and fight for financial justice on anything and everything. The site has over 30 full time staff about half of whom are editorial researching, analysing and writing to continually find ways to save money. More info: See About MSE Who is Martin Lewis? Martin set up and runs MSE, he's an ultra-focused money saving journalist and consumer campaigner. He has regular slots on Daybreak, Lorraine, Radio 2 Vine, BBC1 Watchdog, Radio 5 Consumer panel and presents ITV Tonight. He is a columnist for amongst others the Sunday Post as well as an author. More info: See Martin Lewis' biog What do the links with a * mean? Any links with a * by them are affiliated, which means get a product via this link and a contribution may be made to MoneySavingExpert.com, which helps it stay free to use. You shouldn't notice any difference; the links don't impact the product at all and the editorial line (the things we write) isn't changed due to it. If it isn't possible to get an affiliate link for the best product, it's still included in the same way. More info: See how this site is financed. As we believe transparency is important, we're including the following 'un-affiliated' web-addresses for content too:
Unaffiliated web-addresses for links in this email firstdirect.com, santander-products.co.uk, nationwide.co.uk, co-operativebank.co.uk, cbonline.co.uk, sainsburysbank.co.uk, mbna.co.uk, zopa.com, barclaycard.co.uk, natwest.com, moneysupermarket.com, directline.com, aviva.co.uk, admiral.com, confused.com, energyhelpline.com, uswitch.com, capitalone.co.uk, lloydstsb.com, homephonechoices.co.uk, bt.com.
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