Money News: No longer done roaming: overseas call costs to plummet

The cost of using your mobile abroad is to drop by more than two-thirds but consumers will still have to pay to pick up calls, the European Commission ruled last week.

The new proposed regulation, largely the work of Viviane Reding, the EU Commissioner for Information, Society and Media, aims to ensure that prices paid by consumers for roaming services within the European Union "are not unjustifiably higher than those ... within their own country".

Today, the cost of ringing home from abroad is around four times that of a domestic call.

The Commission will cap both wholesale prices - those charged between rival mobile network providers for transferring consumers' calls - and prices paid by the user.

In the latter case, it will wait up to six months after the new regulation is enforced before imposing its price cap.

There will also be greater transparency on costs, Ms Reding said; mobile phone companies will have to give consumers regular updates about changes in roaming charges.

However, one proposal made earlier this year - to scrap the charge for picking up a call while abroad - has been dropped after heavy lobbying from the telecoms industry.

Many UK firms have already begun to cut roaming costs, in- cluding Vodafone, Orange and O 2.

Although the Commission said its proposals would "transform mobile roaming from being a nuisance for consumers into an attractive service", not everyone was impressed.

"This proposal is a disappointment to the consumer," said Robert Kenley of the price-comparison website moneysupermarket.com. "We would like to see all extra charges abolished for EU calls."

'Dormant' accounts: New homes for 'forgotten' £400m

At least £400m of forgotten savings and cash left by customers in "dormant" accounts should be reinvested in poor communities via a new "social investment" bank, a government-sponsored consultation has suggested.

The independent body would help fund small businesses, support credit unions and pay for free financial advice from trained staff. It could even invest in partnerships between local housing associations and commercial banks to create new, lower-cost mortgages and personal loans for those on small incomes.

And regardless of what happens to the cash, account holders must always be able to get it back, plus any interest due, when they discover their "lost" money.

The proposals were made last week in a paper published by the Commission on Unclaimed Assets. This looked at how best to use the hundreds, if not thousands, of millions of pounds that have been lying idle in accounts for at least a decade. Although the £400m reflects a recent government estimate of forgotten cash in banks and building societies, the figure is much higher if money in life insurance funds and products from National Savings and Investments (NS&I), including premium bonds, is taken into account.

Recent estimates from bodies such as the Unclaimed Assets Register - which, for a fee, will scour different financial institutions for money on your behalf - suggest some £15bn is unclaimed.

The consultation will run until the end of this year. It will examine questions such as what period constitutes "dormant", and is expected to produce a final report before next year's Budget.

To check if you have "lost" assets, ring the British Bankers' Association Dormant Account Unit on 020 7216 8909, or the Building Societies Association on 020 7437 0655. NS&I can be contacted on 0845 964 5000.

Graduate jobs: Out of university and on to £23,000

The number of graduate trainee jobs on offer is up by nearly 17 per cent on last year - the highest rise for more than a decade, according to new research from the Association of Graduate Recruiters.

Companies received an average of 28 applicants for each job, the survey found, while graduates could expect an average salary of £23,136 - up by 2.9 per cent.

The highest-paying employers were fund managers or investment banks. These offered new recruits an average salary of £36,000.

Independent Partners; request a free guide on NISAs from Hargreaves Lansdown

PROMOTED VIDEO
Sport
Mario Balotelli pictured in the win over QPR
footballInternet reacts to miss shocker for Liverpool striker
Voices
Sol Campbell near his home in Chelsea
voices
News
Kimi the fox cub
newsBurberry under fire from animal rights group - and their star, Kimi
Arts and Entertainment
Ella Henderson's first studio album has gone straight to the top of the charts
music
News
<p>Jonathan Ross</p>
<p>Jonathan Ross (or Wossy, as he’s affectionately known) has been on television and radio for an extraordinarily long time, working on a seat in the pantheon of British presenters. Hosting Friday Night with Jonathan Ross for nine years, Ross has been in everything from the video game Fable to Phineas and Ferb. So it’s probably not so surprising that Ross studied at Southampton College of Art (since rebranded Southampton Solent), a university known nowadays for its media production courses.</p>
<p>However, after leaving Solent, Ross studied History at the School of Slavonic and East European Studies, now part of the UCL, a move that was somewhat out of keeping with the rest of his career. Ross was made a fellow of the school in 2006 in recognition of his services to broadcasting.</p>
TV

Rumours that the star wants to move on to pastures new

Life and Style
fashion
News
Paul Nuttall, left, is seen as one of Ukip's key weapons in selling the party to the North of England
i100
Arts and Entertainment
Russell Brand labelled 'left-wing commie scum' by Fox News
TV
Arts and Entertainment
BBC's Antiques Roadshow uncovers a TIE fighter pilot helmet from the 1977 Star Wars film, valuing it at £50,000
TV

TV presenter Fiona Bruce seemed a bit startled by the find during the filming of Antiques Roadshow

News
people

Comedian says he 'never laughed as hard as I have writing with Rik'

Sport
Steven Caulker of QPR scores an own goal during the Barclays Premier League match between Queens Park Rangers and Liverpool
football
Arts and Entertainment
artKaren Wright tours the fair and wishes she had £11m to spare
News
i100
Life and Style
Kirsty Wark and Camila Batmanghelidjh been invited to take part in Women Fashion Power, a new exhibition that celebrates the way women's fashion has changed in relation to their growing power and equality over the past 150 years
fashionKirsty and Camila swap secrets about how to dress for success
Arts and Entertainment
Joy Division photographed around Waterloo Road, Stockport, near Strawberry Studios. The band are Bernard Sumner (guitar and keyboards), Stephen Morris (drums and percussion), Ian Curtis (vocals and occasional guitar), Peter Hook (bass guitar and backing vocals).
booksNew book on Ian Curtis sheds fresh light on the life of the late singer
Finacial products from our partners
Property search
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

ES Rentals

    iJobs Job Widget
    iJobs Money & Business

    Operational Risk Manager - Asset Management

    £60,000 - £80,000: Saxton Leigh: Our client is an leading Asset Manager based...

    Project Coordinator - 12 month contract

    £27000 - £32000 Per Annum: Clearwater People Solutions Ltd: Our large charity ...

    IT Operations Manager - London - £55,000

    £50000 - £55000 per annum + bonus + benefits: Ashdown Group: IT Relationship M...

    Banking Solicitor NQ+

    Highly Attractive Salary : Austen Lloyd: NOTTINGHAM - BRILLIANT FIRM - You wil...

    Day In a Page

    Oscar Pistorius sentencing: The athlete's wealth and notoriety have provoked a long overdue debate on South African prisons

    'They poured water on, then electrified me...'

    If Oscar Pistorius is sent to jail, his experience will not be that of other inmates
    James Wharton: The former Guard now fighting discrimination against gay soldiers

    The former Guard now fighting discrimination against gay soldiers

    Life after the Army has brought new battles for the LGBT activist James Wharton
    Ebola in the US: Panic over the virus threatens to infect President Obama's midterms

    Panic over Ebola threatens to infect the midterms

    Just one person has died, yet November's elections may be affected by what Republicans call 'Obama's Katrina', says Rupert Cornwell
    Premier League coaches join the RSC to swap the tricks of their trades

    Darling, you were fabulous! But offside...

    Premier League coaches are joining the RSC to learn acting skills, and in turn they will teach its actors to play football. Nick Clark finds out why
    How to dress with authority: Kirsty Wark and Camila Batmanghelidjh discuss the changing role of fashion in women's workwear

    How to dress with authority

    Kirsty Wark and Camila Batmanghelidjh discuss the changing role of fashion in women's workwear
    New book on Joy Division's Ian Curtis sheds new light on the life of the late singer

    New book on Ian Curtis sheds fresh light on the life of the late singer

    'Joy Division were making art... Ian was for real' says author Jon Savage
    Sean Harris: A rare interview with British acting's secret weapon

    Sean Harris: A rare interview with British acting's secret weapon

    The Bafta-winner talks Hollywood, being branded a psycho, and how Barbra Streisand is his true inspiration
    Tim Minchin, interview: The musician, comedian and world's favourite ginger is on scorching form

    Tim Minchin interview

    For a no-holds-barred comedian who is scathing about woolly thinking and oppressive religiosity, he is surprisingly gentle in person
    Boris Johnson's boozing won't win the puritan vote

    Boris's boozing won't win the puritan vote

    Many of us Brits still disapprove of conspicuous consumption – it's the way we were raised, says DJ Taylor
    Ash frontman Tim Wheeler reveals how he came to terms with his father's dementia

    Tim Wheeler: Alzheimer's, memories and my dad

    Wheeler's dad suffered from Alzheimer's for three years. When he died, there was only one way the Ash frontman knew how to respond: with a heartfelt solo album
    Hugh Bonneville & Peter James: 'Peter loves his classic cars; I've always pootled along fine with a Mini Metro. I think I lack his panache'

    How We Met: Hugh Bonneville & Peter James

    'Peter loves his classic cars; I've always pootled along fine with a Mini Metro. I think I lack his panache'
    Bill Granger recipes: Our chef's heavenly crab dishes don't need hours of preparation

    Bill Granger's heavenly crab recipes

    Scared off by the strain of shelling a crab? Let a fishmonger do the hard work so you can focus on getting the flavours right
    Radamel Falcao: How faith and love drive the Colombian to glory

    Radamel Falcao: How faith and love drive the Colombian to glory

    After a remarkable conversion from reckless defender to prolific striker, Monaco's ace says he wants to make his loan deal at Old Trafford permanent
    Terry Venables: Premier League managers must not be allowed to dictate who plays and who does not play for England

    Terry Venables column

    Premier League managers must not be allowed to dictate who plays and who does not play for England
    The Inside Word: Brendan Rodgers looks to the future while Roy Hodgson is ghost of seasons past

    Michael Calvin's Inside Word

    Brendan Rodgers looks to the future while Roy Hodgson is ghost of seasons past