MONEY MORSELS

More tap-to-pay

SPENDING using contactless credit and debit cards has grown by 560 pc to £2.32 billion over the past year.

The average purchase is worth £7.29, according to figures from MasterCard.

The contactless spending limit increased to £30 yesterday.

Care bills gap

ELDERLY people who pay for their own nursing home bed have to fork out an average of £912 a week.

By contrast, local authorities, which cover the fees for those who cannot afford them, typically pay only £631 for each place, figures from data firm Laing Buisson show.

Costly inertia

ONE in five motorists allows their car insurer to roll over their policy automatically for another year, without checking they are being offered a good deal.

Many do so because their insurer was the cheapest last time round and they assume it will be the case again, says research from comparison site Confused.com.

Longest 0 pc

NEW credit card customers with Clydesdale and Yorkshire Banks can put off paying interest on purchases bought with a Gold Mastercard for 26 months.

This is the longest interest-free period on the market. Afterwards, borrowers are charged the bank’s rate, currently 18.9 pc.

Rate fix fall

COVENTRY Building Society has reduced its fixed mortgage rates. Homeowners who have saved a 35 pc deposit can get a two-year fix at 1.99 pc, while those with a 10 pc deposit can get a five-year deal at 3.19 pc. There are no booking fees.

11th-hour cover

HOLIDAYMAKERS who have forgotten to buy travel insurance can buy last-minute cover at the airport at a self-service kiosk run by Columbus Direct.

However, travellers are advised to try to shop around before their departure date because it will probably be more expensive than if bought in advance.

Wills off peg

ONE in seven over-50s have made their will using a template they bought online or in a shop.

However, around 7 pc of people say that using a DIY will has led to problems or disputes, Saga Legal has found.

Click for cash

VIRGIN Money has launched a travel money service. Customers can order foreign currency online, by phone or in a Virgin Money Store and have it delivered to their door the next working day.

Student fraud

TWO in five students do not take out contents insurance before heading off to university.

This is despite the fact that most of them own more than £2,000 worth of belongings and one in five falling victim to fraud, according to M&S Bank.