For many people, the biggest mistake they make financially is having debts with their own bank. Banks have the “right to offset” i.e. they will always take money from a debtor to cover the debts with the bank in preference to any other payments due.
Credit card “rate tarts” who rely on being able to shift their debts on to a succession of temporary interest-free deals could struggle to get accepted for a new card as the credit crunch hits plastic, say experts. (more…)
A viewer of BBC2’s Working Lunch TV programme asked if any UK bank offers an ethical current account. The answer was yes, but presently only one bank provides such a service. (more…)
We are coming across more and more bank employees with debt problems. If an employee of a bank cannot manage their debts properly, what hope is there for the rest of us?
UK credit card cheques are like normal bank cheques, except that money is drawn from your credit card, not from your current account. However, there are differences to normal credit card transactions, and they will cost you more. (more…)
You should always avoid debts with your bank where you maintain your current account. This is because your bank can help themselves to money owed to them whether you can afford it or not. (more…)
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