'DIY' holidaymakers risk travel cover
Around eight million UK tourists risk being stranded during the summer because they are not covered by Air Travel Organisers' Licensing (Atol) travel protection.Most traditional travel agents automatically cover holidaymakers with Atol protection, which should ensure that tourists are escorted home and reimbursed should their agent cease trading.'DIY' tailored holidays from independent agents do not always offer this scheme, yet 39 per cent of holidaymakers booked this kind of holiday last year where a decade ago 97 per cent of holidays were booked through conventional agents.David Clover, spokesman for Atol, said on Channel 4's News at Noon that he was concerned that a new survey by the Civil Aviation Authority showed that a third of holidaymakers mistakenly believe they are covered by the Atol scheme when booking independently.Mr Clover said: "Atol provides full financial protection if anything goes wrong with the travel company, that means they'll get their full refund or be repatriated back to the UK if the tour operator goes bust.He warned of the importance of making sure you have adequate travel insurance, saying: "If you do a DIY holiday then there are real risks people will be stranded abroad or will lose out financially."
Barclays Bank to close 11 cash ISAs
07/08/2014 Barclays Bank is set to close 11 of their cash ISAs (Individual Savings Accounts), meaning 2.3 million customers will be moved onto a simplified product range. The simplification of their ISA range means that 1.6 million savers will be put on a worse interest rate than before, although 740,000 will be put on the same or a better rate. Lee Chiswell, head of savings at Barclays...Read More
Will the overdraft fee saga mean the end of free banking?
Over the last 48 hours it has emerged that the UK Supreme Court will this week rule on the eligibility of the Office of Fair Trading to clarify whether banks have overcharged customers with regards to their overdrafts and certain fees. This is a vital element of the ongoing overdraft fee saga and there is a feeling that if the UK Supreme Court rules in favour of the Office of Fair Trading (OFT) th...Read More
When will the UK banking bailout be over?
The revelation that between Lloyds bank and Royal Bank of Scotland, an additional £50 billion has this week been invested on behalf of taxpayers has caught many by surprise. The ongoing UK banking bailout seems never-ending and despite the fact that the government would like taxpayers to believe this is an attractive investment in the medium to longer term, doubts are starting to grow.
FSA Calls Off HBOS Short Selling Investigation
While the Financial Services Authority (FSA) launched an investigation into short selling and false rumours about HBOS in a blaze of glory, it has had to call a halt to the issue 5 months later. Even though the authorities are sure that false rumours were swirling around the market prior to the substantial fall in the share price in mid March, they have been unable to pinpoint the origin of the s...Read More
Are your insurance policies secure?
News that Aviva has taken a hit on its asset base but is still financial secure will offer at least some short term relief to consumers and investors but should we be worried about the long term stability of the insurance market? Do we need to review who we hold our policies with?
While it would be a little foolish to suggest that we should all be checking the small print of our ins...