Category Archives: Banks

Banks

Banks, Checking & Savings, Checks, Financial, Loans, Money

Artistic Checks expands its collection with the launch of its new product suite, “African Silhouettes”

Artistic Checks constantly expands its creative collection to appeal to every customer’s unique taste. The release of the new “African Silhouettes,” designed by an in-house graphics team, is another way for Artistic Checks to diversify its check assortment. The design is certain to appeal to new and existing customers alike.

On August 11, 2008, Artistic Checks launched “African Silhouettes” through its website, www.artisticchecks.com. In four rotating scenes, an African Acacia tree stands in the middle of the safari and acts as the background for these personal checks. Also on the checks, four different figures of African natives stand in colorful traditional garb with tools, baskets, and water jugs needed to perform daily tasks. The address labels, which are self-adhesive, feature a rotating sequence identical to the checks. While the personal contact cards feature a native child, the checkbook cover portrays a hunter as well as a mother and child on their way to gather crops with baskets atop their heads. All three stand tall in the protective shade of the Acacia tree.

Artistic Checks has always offered creative and unique designs for checks and check accessories sold direct to consumers. The addition of the new “African Silhouettes” provides an ethnic option for all interested customers. This check design brings a fresh and distinct feel to Artistic Checks that will attract new customers and peak the interests of existing ones.

About Artistic Checks:
Since its inception in 1998, Artistic Checks has been offering imaginative designs. Consumers looking for works of art to portray on their banking accessories should look no further than Artistic Checks. A visit to the site is sure to find you a masterpiece you can fall in love with!

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Bankruptcy, Banks, Business, Checking & Savings, Financial, Financial Management, Financial Services, Financial Solutions, Loans, Money

DebtAdvisersDirect.co.uk warn that recent large increases in the price of gas could seriously affect people in debt.

Following recent increases in the price of gas, debt consolidation experts DebtAdvisersDirect.co.uk warned of the probable impact on those already struggling to cope with higher living costs, economic uncertainty and record levels of personal debt.

Shortly after EDF Energy’s announcement of its decision to raise gas prices by 22%, British Gas owner Centrica announced an increase which would see the average gas bill rise by 35%, taking a ‘standard’ annual £650 bill up to almost £900.

“In itself,” said a spokesperson for DebtAdvisersDirect.co.uk, “this increase could be enough to push certain households into debt – or further into debt – but this is by no means an isolated instance. Today’s consumers are facing substantial increases across the board, from food and petrol to gas and electricity. The cumulative effects can be devastating: for many, there may simply be no way of finding another £227 per year, which works out to almost £5 per week.”

Zoe Mcleod of independent charity National Energy Action summed it up as follows: “Centrica is the second energy supplier to put its prices up. We expect this sequence to continue across all suppliers forcing more than 1 million households in England into fuel poverty. Across the UK fuel poverty could affect 6 million households by the end of the year.”

Despite British Gas’ reassurance that the increase would be postponed until April for the 340,000 customers who qualify for its ‘Essentials’ tariff, the effect on millions of other customers will be immediate. “With so many demands on their budget, consumers are facing some tough decisions,” the DebtAdvisersDirect.co.uk spokesperson continued. “They may feel forced to ‘juggle’ their debts using credit cards, or even to neglect some bills so they can pay others.

“As debt advisers with 15 years’ experience, we strongly advise against either course of action. However serious someone’s debts are, there are far better ways of handling them. The important thing is to seek expert debt advice – and to do it sooner, rather than later.”

In many cases, the right debt advice can help people cope with the extra strain on their finances: “Some people may be able to free up the necessary extra funds by learning to budget more effectively, or by renegotiating payments to their creditors. For others, however, no amount of debt advice will be enough – if their budgets are already stretched to the limit, they may need to look into professional debt solutions, such as a debt management plan or debt consolidation loan.

“In today’s economic climate, of course, the kinds of debt help available may be limited, as problems in today’s credit market are keeping some people from accessing the debt consolidation loans that could help them regain control of their finances. In cases like this, an alternative debt solution may be more appropriate.

“Debt management, for example, relies not on access to further credit but on negotiations between an individual’s creditors and the debt management professionals who ask them to accept lower monthly payments and grant other concessions. As always, we would recommend that anyone in financial difficulty seek professional debt advice as soon as possible.”

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Bankruptcy, Banks, Business, Checking & Savings, Financial, Financial Management, Financial Services, Financial Solutions, IVA, Loans, Money, Personal Finance

Gregory Pennington advise people to stay on top of their finances

As the credit crunch reaches the end of its first year, debt management company Gregory Pennington (http://www.gregorypennington.co.uk) have advised people to keep on top of their finances, and warned that there may still be tough times ahead.

A spokesperson for Gregory Pennington said: “While studies suggest some of the country feel they have not yet been affected too badly by the credit crunch, these people may begin to feel the effects as future events unfold.”

A recent survey in The Times revealed that 66% of those asked felt their family would fare badly over the next year, while 77% felt the country as a whole will suffer. The spokesperson said that while these views are probably justified, there is still a lot people can do to lessen the effects of the credit crunch.

“The most important thing is staying on top of your finances,” says the debt solutions company. “Make sure you are meeting all your priority financial commitments before anything else, and try to build a budget around that. If you find you can’t meet those commitments, seek expert advice as soon as possible.

“We would also advise people to save as much as possible, because that little bit extra could come in very useful if things get tight.”

The fact that the remaining 34% of people questioned in the survey did not feel (or weren’t sure) that their family would suffer over the next year suggests that the credit crunch has not necessarily affected everyone. But the Gregory Pennington spokesperson warned that other problems linked to the credit crunch may start to kick in over the next few months.

“It’s important to distinguish between the different elements of the economic downturn we’re currently experiencing,” he said. “The credit crunch primarily affects people looking for credit – particularly homeowners, who may be faced with large arrangement fees or higher payments when they remortgage, and also those looking to obtain loans and new mortgages.

“People who aren’t reliant on credit, or homeowners who have a long-term fixed rate on their mortgage, may well have been largely unaffected – so far.

“But it’s now very possible that we will see the knock-on effects of the weak housing market combined with rising costs of living – higher unemployment, increasing amounts of people struggling to meet their comments, and more people facing problems with debt.

“Even if it does get to that stage, there are still things you can do. Seeking professional debt advice from an expert debt adviser is essential if you find yourself in financial difficulty.

“There are a range of debt solutions available to meet different situations, including debt management plans, IVAs (Individual Voluntary Arrangements), debt consolidation loans and remortgages, etc. One of these could be a lifeline if you find yourself with unmanageable debt, which is a growing threat in the current economic climate.”

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Bankruptcy, Banks, Business, Checking & Savings, Financial, Financial Services, Financial Solutions, Loans, Money, Personal Finance

ThinkMoney.com advised people with large debts to seek expert debt advice

Commenting on a recent survey by R3 (a leading professional association for insolvency) suggesting that seven out of 10 insolvency practitioners expect the number of people unable to keep up with their debts to rise during the coming year, a spokesperson for ThinkMoney.com advised people in debt to take early action and seek expert debt advice.

The ThinkMoney.com spokesperson said: “The ongoing credit crunch, and the possibility of a recession, would indeed indicate that people with large debts may struggle more than most in the coming months.”

She echoed the survey’s findings that debt has “become a way of life” for many, and urged people to avoid unnecessary debts, including consumer finance on goods such as electronics, and where possible, credit cards.

She continued: “It’s more important than ever to do what you can to stop your debts growing. The larger your debts, the longer it will take (and the more difficult it will be) to get rid of them.

“If you think your debts are becoming unmanageable, it’s essential you seek professional debt advice from an expert. They will be able to discuss your situation and help decide which debt solution is most suitable for you.”

She added: “There are a number of debt solutions for people with unmanageable debts – and each are better suited to different situations. Speaking to an expert debt advisor will help you make the right decision and make the process as straightforward as possible.”

About Think Money
Think Money are a financial solutions company based in Salford Quays, Manchester. The company specialises in a range of financial services, including mortgages, loans, debt help and advice (including debt management plans, IVAs, and debt consolidation).

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Banks, Checking & Savings, Financial, Financial Services, Financial Solutions, Home Equity, Loans, Money, Mortgage, Personal Finance

ThinkMoney.com advise homeowners not to become complacent about protecting themselves against the current downturn in the housing market.

Responding to the recent report from the National Housing Federation suggesting house prices will recover and rise by 25% by 2013, financial solutions company ThinkMoney.com advised existing homeowners to remain optimistic, but warned them not to become complacent about protecting themselves against the downturn in the housing market.

The National Housing Federation anticipates further falls in house prices for the next two years – 4.4% in 2008, with a further fall of 2.1% in 2009 – after which prices will begin to recover, rising by 25% by 2013.

However, the report itself acknowledges that the figures depend on a ‘robust employment market’, and warns that if employment and consumer spending levels fall by too much, the housing slump could be more severe than they have predicted.

A spokesperson for ThinkMoney.com said: “We would advise homeowners to continue saving well, spending responsibly, and to remain aware of the potential problems facing the housing market. Your financial planning should, as always, be geared towards making sure you are prepared for any problems that could arise.

“The report is only speculative, and as with anything, it is very hard to predict what will happen in the next five years. The predictions are essentially a best-case scenario,” she said.

“In a sense, it’s healthy to be slightly cautious when it comes to money, especially with an important financial commitment like a mortgage.”

The spokesperson said that there are a number of ways homeowners can protect themselves. “Savings are the key,” she says. “Falling house prices means that equity tied up in the value of your home is decreasing, so it’s wise to try and counteract that by saving money where possible.

“This also acts as a buffer if you find the interest on your mortgage payments going up in the next few years, which is quite possible. Without savings to fall back on, mortgage payments could become simply too expensive for poorer families, and that brings the possibility of falling into debt – especially with other costs of living rising so quickly too.

“Likewise, it’s important to keep an eye on spending and make sure unnecessary purchases are kept to a minimum. Avoid taking out consumer finance loans on expensive goods, as they can become a big financial burden when things get tight,” she continued. “In fact, avoiding any form of personal loans or credit is the best defence against getting into debt.”

The ThinkMoney.com spokesperson advised homeowners to remain positive. “Many homeowners will be relatively unaffected by the problems in the housing market, so long as they are willing to stay put,” she said.

“A loss in the value of your home only affects you if you are looking to sell, but it still pays to save well in case of emergency. And once the market does recover, you may even find yourself in a better financial situation than you were before all the trouble started.”

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Bankruptcy, Banks, Business, Checking & Savings, Financial, Financial Services, Financial Solutions, IVA, Loans, Money, Personal Finance

ThinkMoney.com anticipates the rise in insolvencies as the slowing economy begins to affect more consumers.

Financial solutions company ThinkMoney.com anticipates a rise in the number of people experiencing debt problems in the coming months, despite a year-on-year fall in individual insolvencies.

A recent report from the Insolvency Service suggested that the number of people entering into IVAs in the second quarter of 2008 had fallen to 9,256, down from 10,561 a year previously – a drop of 12.4%.

At the same time, bankruptcies had fallen from 16,214 in the second quarter of 2007 to 15,297 in the second quarter of 2008 – a fall of 5.7%.

Given the onset of the credit crunch in recent months, the statistics may come as a surprise to many. But Melanie Taylor, Head of Corporate Relations at ThinkMoney.com, said that the falls in both IVAs and bankruptcies should not be taken as a sign of long-term recovery. “Most economists are predicting an economic downturn,” he says, “which certainly doesn’t raise hopes of the number of people in debt decreasing anytime soon.”

Other indicators, such as the Financial Services Authority’s report that repossessions rose 40% in the first quarter of 2008 compared with the same time last year, do indicate a sharp rise in the number of people facing financial difficulties.

Ms Taylor suggested that this could be an early sign of things to come. “As things stand, we would expect the number of people experiencing debt problems to increase fairly significantly, due to a combination of the credit crunch, rapidly growing costs of living and rising unemployment.

“These things take a while to ‘filter through’ to the wider economy. Typically, lower-income families will be hit first, since they have less money to spend – but that then hits the companies where they usually spend money, so their staff are affected too. Eventually, most people are affected financially in some way.

“This in turn could lead to increasing numbers of people who can no longer manage their debts – and it’s essential that these people get expert help as early as possible.”

But Ms Taylor was keen to emphasise that both IVAs and bankruptcy are valid ways of getting out of unmanageable debt. “An IVA can be a great help to people with over £15,000 of debt,” he said. “It allows a significant portion of their debts to be repaid in convenient monthly payments, usually for five years – after which the remaining debt is written off.”

He continued: “There is something of a stigma surrounding bankruptcy, but in the right circumstances it may be the best possible way of making a fresh start.

“People who go through bankruptcy are subject to some restrictions – for example, they are highly unlikely to be able to borrow any more money for a number of years, and they will most probably be forced to sell any valuable assets they own. But once the bankruptcy process is complete, they will be legally debt free, and able to get on with their lives.”

Think Money are a financial solutions company based in Salford Quays, Manchester. The company specialises in a range of financial services, including mortgages, loans, debt help and advice (including debt management plans, IVAs, and debt consolidation).

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Banks, Checking & Savings, Financial, Financial Services, Financial Solutions, Loans, Money, Online Banking, Personal Finance

Loans for Home Improvement Projects Soar Reveals Lloyds TSB

New research from Lloyds TSB Personal Loans has revealed that over half (55 per cent) of estate agents nationwide have reported an increase in homeowners taking their property off the market in favour of making home improvements.

Lloyds TSB Personal Loans, surveyed 500 UK estate agents and over 1000 home owners to understand how would-be sellers are responding to the cooling housing market*. The research is published as Lloyds TSB revealed a 19 per cent, year on year increase in personal loan applications for home improvement projects.

The findings reveal that three in five (59 per cent) homeowners who had been looking to sell their property have put plans to move on hold due to rising concerns over property prices. Half of those staying put are opting to renovate their existing property instead.

Fifty five per cent plan to undertake improvements to boost chances of a sale in the current less buoyant market. However, almost a quarter (23 per cent) admit they are adapting their property to accommodate changing lifestyle needs and are keen to recoup any potential fall in house prices by adding long term value.

David Wishart, director of personal loans at Lloyds TSB, said: “In recent months we have seen a significant increase in home improvement personal loan requests. For the last decade homeowners have been able to sit back and rely on rising property prices to increase the equity in their home but sadly this is no longer possible. If you want to trade up and avoid substantially increasing your mortgage, you’ll need to add value to the house you’re currently in.”

TV presenter and property finder, Phil Spencer, commented on the research: “The current cooling of the property market is making homeowners think twice about selling up and many are opting to improve instead. In a buoyant market, people taking on a home improvement project could get away with less than perfect preparation or some slapdash sums, as their mistakes were covered by rising property prices. However, in today’s environment it is vital you plan any project thoroughly to ensure maximum return on investment.”

Lloyds TSB quizzed both estate agents and homeowners on the features most likely to help a property sell in the current climate. The findings reveal the top improvements likely to appeal to buyers are:

New kitchen (79%)
New bathroom (59%)
Extension (47%)
Loft conversion (29%)
Re-decorate (25%)

David Wishart continued: “Whether the motivation is a quick sale, adding long term value or accommodating changing lifestyle needs, it’s vital homeowners consider the financial investment they’re about to make. A personal loan can provide a hassle free, affordable way of spreading the cost.”

To help homeowners add value to their home Lloyds TSB personal loans has teamed up with Phil Spencer to create the Move or Improve Guide, offering practical advice and insider tips on the do’s and don’ts of home improvement. An audio podcast and PDF version of the guide is available to download free of charge.

About Lloyds TSB Student banking
Lloyds TSB Bank plc and Lloyds TSB Scotland plc are authorised and regulated by the Financial Services Authority and signatories to the Banking Codes. Lloyds TSB Bank plc Registered Office: 25 Gresham Street, London EC2V 7HN . Registered in England and Wales no. 2065.

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Banks, Checking & Savings, Financial, Financial Management, Financial Services, Financial Solutions, Insurance, Investment, Money, Personal Finance, Retirement

New research from Prudential reveals working-age adults have lost sleep worrying about their pensions

According to new research from Prudential, more than one in three working-age adults have lost sleep worrying about their inability to save enough for retirement*, and the pressure on retirement saving is being increased by a combination of the housing market slowdown and rising household costs.

The Prudential research focusing on working adults provides a snapshot of ‘Burned Out Britain’ as concerns about being unable to save enough for a comfortable retirement drives people to work longer hours and increases stress levels. Around one in five working-age adults have worked longer hours or taken an extra job to increase their pension savings.

Prudential’s research shows just 27% of adults believe they are saving enough to maintain their current standard of living in retirement while 38% want to contribute more to pensions with half of them keen to contribute a lot more.

However financial pressures are making it difficult for them to put their money where their ambitions are – 51% blame higher costs of living while 18% of them don’t want to reduce their disposable income to ensure a more comfortable retirement.

The struggle to match pension ambitions with reality is also increasing the stress levels for these people with three-quarters expressing they were feeling increasingly anxious, and the current economic climate is piling on the pressure.

Julie Mulvanny, Prudential’s Head of Business Development for Pensions said: “The pensions crisis is becoming extremely personal when people are losing sleep over being unable to save enough for retirement.”

She continued, “When the pressures of the current short-term economic climate are added to the mix it is almost surprising that more of us are not lying awake at night worrying. It is clear however that many of us are waking up to the idea that we have to take responsibility for our own retirements and that is a long-term commitment.”

Around 9% said they have cut the amount they save into their pension due to rising living costs.

Up to one in 20 say the housing market slide has knocked their confidence in property as a pension while eight per cent are concentrating on building up short-term savings to tide them over in the event of any problems caused by the current economic climate.

Julie Mulvanny concluded, “It is encouraging that this message is getting through and there is plenty that we can all do to ensure we get the retirement we want and deserve. The UK needs a new approach to retirement income and planning for retirement. That should involve more than simply saving into a pension but should also involve looking at all sources of income.”

Disclaimer:
The information contained in Prudential UK‘s press releases is intended solely for journalists and should not be used by consumers to make financial decisions. Full consumer product information can be found at www.pru.co.uk.

 

About Prudential:
Established in 1848, today Prudential plc is an international financial services company with a product range which extends from personal banking, insurance, pensions and retail investments, to institutional fund management and property investments.

In the UK Prudential is a leading life and pensions provider with around seven million customers.

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Banks, Business, Checking & Savings, Financial, Financial Education, Financial Management, Financial Services, Financial Solutions, Money, Online Banking, Personal Finance, Retirement

Pioneer Services Offers Simple Online Banking Tips for Retirees

Consumer use of online banking and financial services has exploded in recent years. While technology has made life more convenient, some Americans are still low-tech when it comes to banking, despite the advantages online financial services can provide. The same is true in the military, where older service members who have likely relied on cutting edge technology to accomplish various missions may not apply this technology to their daily lives, especially after they retire.

As a result, Pioneer Services, a leader in financial services for the military, has created a new article highlighting the benefits of the online banking experience, along with some common sense tips for a safe and secure transaction. The article, Military retirees and online banking – securely saving time and money, is intended to educate both retired and active-duty military consumers.

“New technology and security advancements have torn down the walls between what used to be done kneecap-to-kneecap and what can now be done online”, said Doug Allen, chief information officer for Pioneer Services and author of the article. “Today, online financial services can save time, offer more options, afford privacy, and provide greater flexibility and control over your finances.

“There are millions of online financial transactions every day,” he added. “And just like when using an ATM or walking into a bank, a little common sense while online will ensure a quick and easy transaction while protecting your privacy and security.”

To read other financial education articles for military families, visit the Learning Center at PioneerMilitaryLoans.com. For more information about Pioneer Services, visit PioneerServices.com.

Pioneer Services, the military banking division of MidCountry Bank, offers responsible financial services and education to members of the Armed Forces that enhance their quality of life and financial independence. For more than 20 years, Pioneer Services has been a leader in military lending. They offer the protection and security of a personal loan with the speed and flexibility service members need. Through a network of offices and on the Internet, Pioneer Services offers loans, financial education programs, and supports military families and communities through a variety of partnerships, programs, and sponsorships.

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Banks, Financial, Financial Services, Financial Solutions, Home Equity, Insurance, Loans, Money, Mortgage

Secured consolidation loans are still a viable debt solution

In the midst of the credit crunch, thinkmoney.com reminds existing and potential customers that secured consolidation loans are still a viable debt solution for many homeowners – and that a range of alternative debt solutions are available to borrowers who either can’t secure a loan against their property or prefer not to.

“There’s no question that obtaining secured credit has become harder and, in many cases, more expensive,” a spokesperson for the financial solutions company commented. “As a second charge on a home, a secured loan involves a certain risk from a lender’s perspective, so secured lenders are keeping a very close eye on issues in the housing market. A recent Bank of England survey revealed that default rates on secured lending rose by more than expected in Q2, and lenders expect these rates to rise further in the months ahead.

From the individual borrower’s perspective, equity withdrawal of any kind is clearly a more attractive option when house prices are rising: “Today’s falling prices are reducing the number of homeowners with enough equity to make a secured loan a viable solution – and deterring many who are keen to retain their ‘safety margin’ against negative equity.

“Having said that, it’s important to see recent falls in house prices in their correct context: as relatively small drops following a decade of rapid growth. According to Nationwide’s House Price Index, for example, the ‘average house’ in Q2 2008 was still worth almost £10,000 more than it was in Q2 2006. In just ten years, Nationwide reports, the average house price rose from £60,754 to £184,131 – homeowners may be worried about falling prices, but many are still likely to own significant levels of equity. For them, a secured loan can be an excellent debt solution: a realistic way to consolidate their unsecured debts into one manageable, lower-interest debt which they can arrange to repay at an affordable rate.

“Nonetheless, when major secured loans providers like Firstplus announce they’re ceasing to make new loans, it’s clear that the secured loans market as a whole is suffering under today’s adverse conditions. With lenders tightening their criteria or even turning down new business, it’s more important than ever that borrowers choose a company that works with a wide range of lenders and specialises in finding secured loans for people from all kinds of financial backgrounds. Talking to the right company can make all the difference between being offered credit at a competitive rate and being unable to avail a secured loan at all.”

Concluding, the thinkmoney.com spokesperson stressed that secured consolidation loans are by no mean the only way out of debt. “Depending on the individual’s circumstances, a number of other debt solutions may be more appropriate than a secured loan, such as a debt management plan, an unsecured debt consolidation loan, an IVA (Individual Voluntary Arrangement) or, for residents of Scotland, a Trust Deed. For anyone in debt, the important thing is to seek impartial debt advice from a company that offers a wide range of debt solutions – a company that has an in-depth understanding of each solution’s benefits and drawbacks and can recommend the one that constitutes their optimal route out of debt.”

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Banks, Business, Credit Cards, Debit Cards, Financial, Financial Services, Financial Solutions, Loans, Money

Prepaid Debit Cards for everyone by Sterling Card

Sterling Card have been officially accredited by MasterCard as issuers of their prepaid credit cards and are definitely a brand within the personal finance industry to keep an eye out for and their new website illustrates just this with its stunning graphics and flash animation along with simple interfaces making signing up for prepaid credit cards easier than ever.

Prepaid cards (other known as pay as you go debit cards) are a relatively new product to the UK market and are the perfect solution to the mounting debt crisis that the country faces as unlike traditional credit cards they do not carry hefty interest charges or the risk of getting into debt.

A prepaid MasterCard means that like a pay as you go mobile phone, holders need to put money on their account before they can use it. It is not a debit card that is linked to a bank account or credit card where holders pay for their transactions at a later date allowing its users to easily control their spending. Similarly to pre pay mobile phones, Sterling pay as you go debit cards can easily be “topped up” for free in UK Post Office branches or alternatively can be recharged online, via standing order, or direct by paying in wages onto the card. Alternatively, top-ups can be loaded onto the card in one of 500 retailers nationwide.

Michael Valentine, operations director of Sterling Card comments: “Getting a Sterling Prepaid Debit Card is the best way to enjoy the freedom and security of a MasterCard credit card without the risk of running up debts as there are NO interest fees. Also no bank account is required to get a Sterling Card and customers still get the same fraud protection as a conventional credit card. It is also ideal for travelling abroad because regular banks may charge exorbitant cash withdrawal, exchange rate and transaction charges.”

The Sterling Prepaid MasterCard is accepted globally in stores and online in approximately 25 million locations and 1 million ATMs wherever the MasterCard acceptance mark is displayed. Also the chip and pin facility means that having a Sterling Card is far safer and more secure than carrying cash around with the same protections against fraud that a normal credit card offers.

This makes owning such a card not only ideal for everyday use, but also a particularly useful tool for travelling and shopping online. Another increasingly popular use for pre pay debit cards is for parents to have added peace of mind by giving an additional card to their children whilst at University. This is because they can feel safe in the knowledge that their children are not creating more debts for themselves while at University than necessary with a secure MasterCard that encourages them to manage their finances sensibly.

Unlike many other Prepaid Credit Card providers, Sterling Card’s new website is uncomplicated with everything explained in plain English. The new website lists the core benefits of applying for prepaid debit cards as follows:

• Top-up at a Post Office(R) branch or online for free
• 100% acceptance guaranteed*
• No credit history required
• No bank account required
• No hidden charges
• Stylish MasterCard design
• Accepted wherever the MasterCard acceptance mark is displayed (internationally)
• Great security for all Internet usage
• Easy online application
• Same protection against fraud that card holders would expect from a normal credit card

For more information or to apply online for a sterling card please go to www.sterlingcard.co.uk

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Banks, Business, Financial, Financial Services, Loans, Money, SME

Barclays Local Business reveals small business owners are in it for the long haul and plan to stay in business longer

It may not always be a match made in heaven, but UK bosses are in it for the long haul when it comes to running their own company, according to a survey of small business owners conducted by Barclays Local Business* research reveals that over a quarter (28%) expect to run their business for more than 25 years (longer than the average marriage in the UK at 24 years, or 11.6 years if it ends in divorce**) and one in five said they plan to keep working well into their seventies.

As well as being wedded to the job, UK small business bosses are forming long-term and loyal relationships with their staff. Despite the popular belief that a ‘job for life’ is a thing of the past, nearly a third (29%) of those questioned have an employee on the books who has worked for them for at least ten years and two thirds of respondents still employ their first ever recruit.

John Davis, marketing director for Barclays Local Business said: “Starting your own business is a serious commitment and for most people it really is about a life long relationship that needs constant nurturing and attention. For every over night success there are thousands of business people who have spent years developing a successful business – but there are few things as satisfying as making it a success after all that effort.”

Given this propensity for long term commitment, it is no surprise that bosses are quite literally ‘married to the job’. Two fifths admit feeling personally connected to their business, and said its failure would cause emotions akin to a relationship ending.

Although women were more likely to be affected by ‘business bereavement’ when a company fails, the survey showed that when it comes to their staff, male entrepreneurs are more sentimental than their female counterparts. On average, male bosses employed their first recruit for approximately a year longer than female bosses, while their longest serving employees typically clocked up a year longer on the payroll.

The survey also revealed that entrepreneurs who value stability in their personal life are more likely to replicate it in the workplace. Respondents who had been in relationships for more than twenty years tended to employ their first recruits for nearly eight years – two and a half years longer than the national average. Their longest standing employees also remained employed for more than nine years – 50% longer that the national average of six and a half years.

Despite growing concern about an economic downturn, confidence among the small business community remains strong, as three quarters (74%) say they are keen to grow their business this year. Of those that felt growth was not an option, a quarter cited the risks currently posed by the economic climate while nearly one in five (19%) said they simply had no interest in making more money.

* Taken from online research carried out between 1 and 16 June 2008 by Ciao Surveys on behalf of Barclays Local Business Banking. Total sample size was 503 Small to Medium Enterprise (SME) owner-managers from across the UK, where an SME is defined as having up to 250 employees.
** National Statistics and the National Family and Parenting Institute.

About Barclays Local Business
Barclays supports businesses with:

– 1600 local business managers in 600 locations.
– Start-ups get standard banking transactions free for up to 12 months.
– Flexibility to bank when and how they want – online and telephone banking and a full counter service at 1600 branches nationwide.
– In the longer term businesses can choose various banking packages which give a choice of free automated payments or in credit interest. These packages also include different levels of further support from online training to credit management facilities.

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Banks, Business, Financial, Financial Services, Financial Software, Financial Solutions, Money, Mortgage

Mortgage Application Xpress by Woolwich

Woolwich has announced the launch of a new mortgage sales tool ‘Mortgage Application Xpress’ (MAX) which gives a faster, simpler and more efficient way to do business online. The new tool allows brokers to be able to confirm mortgage decisions at point of sale, certify ID and proof of address online, leading to speedier mortgage offers.

The new MAX tool from Woolwich will save mortgage brokers time as it’s a one stop mortgage application process, it is also intuitive so helps removes duplication and the potential for errors as well as telling the broker exactly which documents are needed to submitted with the application.

David Finlay, Woolwich intermediary business director said: “This strengthens our promise to the intermediary market to build on our service. The latest online sales tool is a result of feedback from intermediaries to provide them with a single platform for all mortgage sales related activities.”

Key features of MAX:

  • Mortgage decision at point of sale – an instant decision to give brokers confidence we can meet their clients mortgage requirements
  • ID and proof of address can be certified online
  • Application Credit Check (ACC)
  • Intelligent fields (so you can look up things like post and sort codes)
  • Notification of all documentation requirements at ACC stage meaning you save time
  • Intelligent, pre-population of data across multiple forms such as declarations, direct debits, cover sheet etc.
  • Intuitive, simple to use application forms
  • Slicker documentation and tools for example documentation that can be e-mailed to the customer, ability to save and file online, new quick calculations
  • Quick quote, Offset Calculator, BTL Illustrator

MAX is available on woolwichintermediaries.co.uk, brokers can find out more by contacting their IBM, calling 0845 070 1567 or visiting the Woolwich website to try the online demo. Brokers who are already registered for Woolwich’s online application systems will automatically have access to MAX.

The new site has recently been piloted by Contractor Financials, Mortgage Find and Concordia.

Via EPR Network

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