Money in Brief

Click to follow
The Independent Online
New MasterCard from Royal

Royal Bank of Scotland has launched a new MasterCard, aimed primarily at people who use credit cards to borrow money. Charges are 16 per cent APR, or 14.5 per cent for balances over pounds 1,000. No annual fee is levied. Further details on 0800 161616.

Lloyds move

Lloyds Bank is scrapping charges for processing foreign currency cheques into its Young Savers, Headway and Student accounts. The fee would normally be pounds 5 for cheques worth up to pounds 100 or 25p per pounds 100, with a minimum of pounds 8, for large cheques.


Reyker Securities is launching 'PEPability', a service aimed at allowing an investor's PEPs to be administered under one roof. The service allows a single tax-free 'wrapper' to be placed round an investment portfolio rather than a mix of separate PEPs. An annual management charge of 1 per cent is applied. Call 071 499 9097 for details.

Killik stays up

Killik & Co is keeping its four London branches open until midnight on 5 April for investors wanting to take advantage of their PEP allowances. Forms will be available but clients should bring their cheque books and NI numbers. Call 071 589 1577 for more details.

Trustee course

Pensions trustees are being offered a course to help them pass the Pensions Management Institute trustee certificate. The two-day course, beginning on 21 April, is being organised in Weybridge, Surrey, by actuaries Bacon & Woodrow. It costs pounds 822.50. More details from Janet Treadgold on 0372 733907.

Abbey cuts

Abbey National has cut interest rates on most tiers of its savings accounts. The Instant Saver account, for instance, will pay 2.89 per cent net on amounts between pounds 2,500 and pounds 5,000 instead of 3 per cent, and the rate on sums up to pounds 250 falls from 0.38 per cent to 0.15 per cent net. The rates on the current account drop to the same level.

Johnson Fry auction

Johnson Fry is offering its eighth auction catalogue for second-hand with-profits endowments. Bidding forms must be received by 10am on 14 April. More details from 071 321 0220.

Thornton switch

Thornton Unit Managers has renamed the Aetna range of unit trusts, which it took over last year. More details from the Thornton marketing department on 071 246 3000.

Investment claim

Investors who dealt with three firms of independent financial advisers are being told they may now be able to claim from the Investors Compensation Scheme, subject to the merit of their case and an upper limit of pounds 48,000. The firms are Beaver & Co, of Corby, Northants; ADC Group Limited, of Westbury-on-Trym, Bristol; and Finlow Clarke & Company, of Sandbach, Cheshire. Details on 071 628 8820.

Liffe rolls

The London International Financial Futures and Options Exchange has produced a brief guide for sophisticated investors considering taking advantage of the new 10-day rolling settlement period that begins on 18 July.

Looking for credit card or current account deals? Search here