POUND NOTES
CURRENT ACCOUNT SWITCHING INCENTIVE SUPPORTS HOMELESS CHARITY THE Co-operative Bank has launched a new current account switching incentive that will help support young homeless people.
The Co-operative Bank is paying £125 to eligible customers who switch their account using the Current Account Switching Service.
For every switch that is made meeting the bank’s offer criteria, it will make a £25 donation to its charity partner Centrepoint, to go towards work in support of vulnerable young people. MORTGAGE CUSTOMERS ‘COULD FACE PENALTY FOR LOYALTY’ LOYAL customers who don’t remortgage after their fixed term deal can pay £400 extra a year, according to research from Citizens Advice.
The penalty affects people who are rolled onto their bank’s standard variable interest rate at the end of a fixed term mortgage deal.
Citizens Advice found people who remain on the standard rate after a two-year fixed-term mortgage deal faced an average loyalty penalty of £439 a year. NEARLY £500 WORTH OF FOOD ‘WASTED FOLLOWING A WEDDING’ NEWLYWED couples needlessly bin £488.50 of their wedding food on average, according to research from Sainsbury’s.
Two of the biggest contributors to the waste are edible favours and the wedding cake, the research, which is part of the Sainsbury’s Waste Less, Save More campaign, found.
A quarter (24%) of those who have got married deliberately put on more food than was really needed to make sure guests had enough. FINANCIAL FACT THERE are now more new 12-sided £1 coins in circulation than old round pounds, according to figures from the Treasury.
The round pound will soon lose its legal tender status – and people are being encouraged to return their coins before October 15. They can bank them or spend them, or give them to charity.