The Week Unzipped: Tories seek accounts for poor

Published on Saturday 23 August 2008 14:01

THE Conservatives want to introduce a Post Office card account which would help low-earners without a bank account receive the same discounts as those paying by direct debit.

Shadow Chancellor George Osborne says this could help as many as four million people save up to 100 a year. The Tories say about eight million people in the UK do not have a bank account or withdraw all their cash weekly, facing a fuel poverty penalty.

A&L vote looms

DETAILS of the recommended acquisition of Alliance & Leicester by Banco Santander have gone out to shareholders for voting.

The deal was announced on July 14 and shareholders must vote before September 14, with an extraordinary general meeting to approve the deal scheduled for September 16. Shareholders can vote by post, online or in person.

Roy Brown, acting chairman of Alliance & Leicester, said: "We strongly encourage all Alliance & Leicester shareholders to exercise their voting rights."

Shareholders are being offered one Santander share valued at roughly 949p for three A&L shares, currently trading about 319p. However, before the bid from the Spanish bank A&L had drifted downwards to 219p.

Colour of money

BANK of Scotland is offering a credit card bonus to both new and existing customers. This bonus extends the interest-free period on balance transfers and purchases by an extra month to 11 months.

The card, available in five different colours – black, white, pink, red and blue – has a typical rate of 15.9% variable and offers protection against online fraud.

The offer, only open until September 21, is available for savers depositing 1,000 or more per month in a Bank of Scotland current account, customers holding a Bank of Scotland Ultimate Reward current account and consumers moving their current account to Bank of Scotland.

Thistle do nicely

THE Scottish Building Society has introduced two new savers' products.

The limited edition Thistle Bond pays 6.8% fixed for 12 months on savings of between 1,000 and 500,000.

The fixed-rate Isa Balance Transfer is available to anyone transferring a minimum balance of 25,000 from an existing cash Isa and pays 6.25% fixed for 12 months.

Looking for love

MORE than a third of holidaymakers have had a romantic fling abroad, with nearly half marrying their new true love, according to Moneysupermarket.com.

Those older than 60 are the luckiest in finding love abroad, with one in five tying the knot with their holiday romance. Top destinations for those looking for love abroad are Paris, Majorca, Barcelona, Tenerife and Rome.