MONEY MORSELS
Cash is back
SHOPS will be paid to provide free cash withdrawals from their tills in a trial across four UK communities. The scheme, run by Link and PayPoint, will begin in October in 15 shops. It means that customers will not have to make a purchase to get cashback.
Pension pause
WORKERS aged between 50-59 are saving £165 less a month towards their retirement as a result of the coronavirus pandemic. Calculations by Legal & General suggest that those in their 50s could be almost £100,000 worse off, on average, by the age of 75, if they fail to start saving into their pension again.
Energy switching
PERSONAL finance site MoneySavingExpert is launching a new energy auto-switching service this week. MSE Autoswitch allows customers to compare tariffs based on their preferences including price and customer service. It then picks the best deal for you and allows you to switch with just one click.
Nectar boost
SHOPPERS can now collect Nectar points at Argos in store or online. You’ll typically get one Nectar point per £1 spent. Points can be spent at Argos, Sainsbury’s and other partners such as Sky, Eurostar and Caffe Nero.
Travel fall-out
HOLIDAY firms On The Beach and Love Holidays have quit as members of the travel agent trade body.
ABTA — formerly the Association of British Travel Agents — gives customers of its members additional protection such as refunds if they cancel on the advice of the Foreign Office. ABTA says that if you booked with either firm before they quit being members, you should still be protected.
Rates release
AVERAGE rates for equity release products reached record lows of 4.11 pc in July 2020, with one in five offering rates below 3 pc, according to the Equity Release Council. Product choice was also up 29 pc from July 2019.
Free food
TESCO has partnered up with the food-sharing smartphone app OLIO to offer free food to users before it goes to waste. Anyone downloading the app will be able to see food items nearing their expiry date in their area. These can then be picked up from agreed collection points.
Savings bonus
MORE than 47,000 Help To Save customers have received their first bonus two years after opening their accounts. The scheme returns 50 pc on savings up to £100 every month in a Government-backed account. The average total return was £375, according to HMRC.