Julian Knight: Good banking costs less at Sainsbury's. Really?
Sunday 18 October 2009
Does the idea of a genuine challenger to the banks in the mortgage, current-account or savings markets fill you with glee? Think of it, trusted brands such as Sainsbury's or Tesco could clean up with their extensive branch networks and reward-card schemes. Particularly as the bankers sabre-rattle over ending "free banking" if they don't get their way over unfair charges.
Tesco has said it plans to move into mortgages and current accounts in the next few years, while Sainsbury's launched a big expansion of its banking last week. The centrepiece was an offer to give people taking out a savings account, credit card, home or pet insurance double Nectar reward points. A customer buying all four products and spending £50 a week in store could expect to earn £130 in Nectar points. All good?
Drill into the small print and Sainsbury's offer is much less generous. Claim on your home and pet insurance, see your savings dip below £5,000 or miss a credit-card payment and you stop earnings points. So if I'm burgled, my bonus gets nicked too (and my premiums will go up, no doubt)? Thanks a bunch. The brave new world of banking looks awfully similar to the old one.
Leave budget airlines alone
The Office of Fair Trading is investigating firms using confusing tactics and baiting customers. May I suggest it doesn't bother with the budget airlines? After the OFT announcement, Ryanair was instantly wheeled out by the BBC as a prime example of firms giving one price at the outset then charging far more. But if the OFT wants to find baiting and confusing marketing, this is not the place to look. Try ticket agencies (as I've mentioned before) or your local high street, with its shops in permanent sale, or closing down – "everything must go". (One shop near me has been "closing down" for a year now.)
Budget airlines are watched like a hawk by the OFT and the Advertising Standards Authority, and while they do levy charges upon charges, you can avoid them with a bit of planning. I'm no fan of Michael O'Leary, but many in the media get sniffy about these airlines purely because the great unwashed use them.
Borro.com rides to MPs' rescue
At last, help is near for our downtrodden and persecuted MPs. Online pawnbroker Borro.com says it will offer any MP struggling to repay expenses a loan at half the standard interest rate. Paul Aitken, Borro.com's founder, said: "MPs are well-heeled individuals [too right!] who are faced with extraneous expenses who maybe don't have the liquid assets to cover the immediate cost."
Indeed, a duck house or John Lewis chest of drawers is hardly a liquid asset, but I wonder if Jacqui Smith's husband will be availing himself of this different type of pawn?
Independent Partners; request a free guide on NISAs from Hargreaves Lansdown
Questions of Cash: Bupa costs bore no relation to what I'd been quoted
Problem gambling: Amid heavy advertising and a surge in remote sports betting, more and more 16 to 24-year-olds are now seen as 'at risk'
The HiFX guide to managing corporate foreign exchange and international payments
How to start your own internet business
Be warned of the dirty tricks the bailiffs pull
- 1 'Women should not laugh in public,' says Turkey's Deputy Prime Minister in morality speech
- 2 The secret report that helps Israel hide facts
- 3 Is Ebola coming to Britain? UK health officials issue warning to doctors as outbreak fears grow
- 4 Richard Dawkins says 'date rape is bad, stranger rape is worse' on Twitter
- 5 Danish TV reporter is all business up top, all party down below
The secret report that helps Israel hide facts
A day in the life of Vladimir Putin: The dictator in his labyrinth
Woman and two children killed by mob in riots over 'blasphemous' Facebook post in Pakistan
Putin is 'thuggish, dishonest and reckless', says British ambassador to US
Boozy, ignorant, intolerant, but very polite – Britain as others see us
A new Russian revolution: The cracks are starting to appear in Putin’s Kremlin power bloc
- < Previous
- Next >
iJobs Money & Business
£350 - £400 per annum + competitive: Orgtel: Project Manager (specializing in ...
£25000 per annum + OTE £40,000: SThree: Orgtel are seeking Graduate Trainee Re...
£45000 per annum + Benefits: Ashdown Group: ** HR Business Partner - Senior H...
£28000 - £32000 per annum + Benefits: Ashdown Group: PA / Team Secretary - Mat...
Day In a Page
A two-bedroom flat in a beautiful old vicarage, with many original features, close to the city centre
A three-bedroom 16th-century home with an aga kitchen, private gardens and heated outdoor pool, in Hadleigh
A three-bedrom home in sought-after Queen's Gate Mews, with Italian marble-finished bathrooms
Surrounded by glorious countryside in the village of Udimore, sits this impressive four-kiln oast and barn conversion
A five-bedroom house in the picturesque village of Kettlewell, north Yorkshire
An 18th-century former coaching inn with original staircase, open fireplaces and beams throughout
A Grade II-listed Georgian town house with three bedrooms and a south-facing courtyard, near Arundel Castle
Feel on top of the world at this über chic penthouse on the 37th floor of one of Europe’s tallest blocks.
A Grade II-listed Victorian villa with six bedrooms and two further cottages, all with spectacular sea views
A grade II-listed, Georgian cottage with mature 50ft garden, perfect for summer entertaining
A magnificent Georgian pile with turrets, seven bedrooms, a heated pool and four acres of gardens
Fairoak Farm has five bedroom suites, gym, outdoor swimming pool and golf course
Chic two-bedroom river-fronted flat with a private lift that delivers you directly to your home
A spectacular seven-bedroom Tudor pile, once owned by Henry VIII, with 18 acres of land
A seven-bedroom Georgian property previously used as a picturesque wedding venue
A split-level flat in a church conversion with two en suite bedrooms and 1,200sq ft of living space
A three-bedroom bungalow situated behind an impressive stone wall, £645,000
Windsor Castle overlooks this three-bedroom Victorian cottage located on one of Windsor's smartest roads
Chapel House is a former vicarage with nine bedrooms in the beautiful Upper Wye Valley
A five-bedroom B&B and separate owner's accomodation with potential for conversion
Enjoy summer by the Thames in this two double-bedroom converted warehouse in Rotherhithe village
A one-bedroom, luxury apartment with private gym and concierge service in Moorgate
A four-bedroom house in Hermitage Gardens with three reception rooms and landscaped gardens
A seven-bedroom Grade II-listed property with a separate self-contained apartment
A five-bedroom Victorian house with three reception rooms and galleried landing, £695,000
A six-bedroom farmhouse with five acres of land in a former cloth-making village
A secluded seven-bedroom detached house with large private garden, £490,000
A three-bedroom cottage overlooking Sarratt village green with open fires and solid oak floors
A three-bedroom maisonette flat in a Grade I-listed, Georgian townhouse in a sought-after location
A one-bedroom apartment located within a private gated development, north of Turnham Green
Look forward to a brighter future at two-bedroom Sunny Cottages, ideal for Londoners looking to downsize
A three-bedroom red-brick cottage with outbuildings and pretty gardens, £200,000
This three-bedroom flat within a former textile factory spans the corner of the fourth floor and has a balcony
A charming four-bedroom Oxfordshire cottage with oak floors and chunky-beamed ceilings, £465,000
A beautiful one-bed flat in a sought-after portered block, with access to Norland Square communal gardens
A one-bedroom flat within a Sixties school conversion with high-spec design and open-plan kitchen, close to Lambeth North Tube, £435,000
A 17th century four-bedroom house, with open fireplaces, cellar and pool, £600,000