MONEY MORSELS

Credit cycle

SHOPPERS with Evans Cycles gift cards can once again use these in store and online after the company was taken over by Sports Direct. Cards bought before October 30 can now be used, but by January 31 2019 they will expire.

PPI ‘lies’

BANKS are incorrectly telling customers they never had payment protection insurance (PPI) when they apply for compensation, a claims body says. But UK Finance, the trade association which represents banks, says that accurate checks occur ‘in most cases’.

Seller woes

HOMES now take an average of 102 days to sell, which is a week longer than last year, according to research by Post Office Money. Properties in London and Blackpool took the longest time to sell, at 126 and 131 days respectively. Edinburgh was fastest, with homes sold in 39 days.

Bank failure

BARCLAYS customers suffered 16 separate disruptions to banking services between July and September. Lloyds was the next worst performer, reporting 12 incidents, followed by Bank of Scotland and Halifax with 11. The city watchdog requires banks and building societies to publish how many times services fail on their websites.

Tax refunds

THE number of households applying for stamp duty refunds has almost doubled in a year, from 8,513 in 2016/ 17 to 15,967 in 2017/ 18, according to a freedom of information request by tax expert Cornerstone. The rise in refunds, which totalled £75 million in 2017/18, is down to solicitors submitting inaccurate bills after using HMrC’s online calculator which failed to apply the correct discounts.

Fraudster alert

IMPROVEMENTS will be made to the Financial Services Register, city watchdog chief Andrew Bailey promises. It follows reports of fraudsters taking advantage of out-of-date information on the register to pose as legitimate firms. Mr Bailey says bankrupt firms will be flagged immediately.

0 pc deals

BANKS have slashed interest-free credit card deals. in February 2017, borrowers could get 0 pc periods of up to 43 months, but the maximum has now fallen to 33 months, says Andrew Hagger of Moneycomms. By January, borrowers may struggle to find a 30-month deal, he says.

Student scams

UNIVERSITY students are being targeted by scammers who pose as HM Revenue & Customs and claim the students are entitled to a tax refund. Fraudsters use seemingly legitimate university email addresses ending in ‘ac.uk’ to avoid detection.