Tag Archives: banking

MoneyAware news: October 2017

posted by in Debt news Leave a comment

New CCJ rules come into effect offering better protection, interest rate rises could affect mortgage costs, and our latest stats show a worrying increase in personal debt levels.  

Here are this month’s most important debt and money news stories…

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In debt? Here are 5 reasons why you should open a new bank account

posted by in Living with debt Leave a comment

If you get in touch with us for debt advice, it’s likely we’ll recommend you open a new basic bank account. It might sound like a chore to put off for another day, but this is one of (if not THE) most important pieces of advice we’ll give you.

A basic bank account does what it says on the tin. It’s essentially a no-frills place to keep your money. Basic bank accounts are free to set up and you can get a debit card to spend your money in shops and take out cash at an ATM, just like any other current account.

However, the main reason we recommend basic bank accounts is because of the extra protection they offer to people in debt, such as not charging any fees or offering extra facilities like an overdraft.

If you feel a bit hesitant about opening a basic bank account, you’re not alone.

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