MONEY MORSELS
New bank alert
PeeR-To-PeeR lender Zopa has been granted a full UK banking licence, allowing it to offer a fixedterm savings account and credit card next year.
Customers will be able to open the account in seven minutes online. Deposits up to £85,000 will be protected by the Financial Services Compensation Scheme.
Overdraft warning
BORROWERS may face overdraft fee hikes from as early as next month, after the City watchdog failed to extend restrictions on how much banks can charge for overdraft borrowing over £500.
Sarah Coles, of Hargreaves Lansdown, says: ‘The banks have taken a hit from payment holidays so want to make up lost income.’
Car costs
MoToRISTS do not need to inform their car insurer or pay extra if they need to drive to work due to Covid-19, trade body the Association of British Insurers has said. ordinarily premiums are higher for those who use their car to commute because they are on the road more.
Moving market
UK PROPERTY transactions were up by 16 pc in May compared to April as the market reopened, according to HMRC data. But deals were still down by almost half compared to the same time last year.
Debt collections
FIRMS have been given the green light to chase households for unpaid energy bills by regulator ofgem following a temporary freeze. The Government said bailiffs can restart home visits as of August 23, too.
Troubled youth
MORE than half of workers aged between 18 to 34 are likely to have seen their income and hours reduced, while 22 pc have had a pay cut while working the same hours, according to Fidelity.
Fire claims
HOMEOWNERS are being urged to take care when lighting barbecues, after a spike in fire claims on home insurance policies. Lloyds Bank saw a 91 pc increase in these claims between March and May.
Log on
DRIVERS who need to change the address on their vehicle log book can now do it online. Motorists will need their vehicle registration, log book reference number and postcode. Visit the DVLA website for more information.
Care calls
BT IS offering free telephones and Sim cards to care homes so volunteers can make calls to residents who may be isolated from friends and family. The pilot scheme will initially focus on Marton Care homes, but BT plans to extend it.