April 2020

The financial regulator has confirmed it will introduce a new set of payment freezes for customers struggling to make payments on car finance deals, payday loans, buy-now-pay-later agreements and other credit products due to the coronavirus pandemic. 

MBNA credit card customers who agreed a payment holiday because they are struggling due to coronavirus have been mistakenly sent text messages chasing 'overdue' payment. If you're received one of these texts you can safely ignore it – so long as you're sure your payment holiday has been confirmed.

The Government has agreed to change its Coronavirus Job Retention Scheme guidance after a campaign by MoneySavingExpert.com founder Martin Lewis – it's now clarified that firms can rehire and furlough those who left their job for a new job which then fell through due to Covid-19.

Vulnerable Post Office customers who need to shield during the coronavirus pandemic can now have cash payments delivered straight to their homes as part of a new scheme.

Furious Ryanair customers – likely numbered in the thousands – have jumped through hoops to apply for cash refunds from the budget airline, only to be sent vouchers... which include details of how to reclaim cash. In response, MoneySavingExpert.com has today made formal complaints to the Civil Aviation Authority and Trading Standards.

Insurance firm Admiral is to give all of its car and van policyholders a flat-rate refund of £25 for each vehicle insured, in recognition of the fact that most people are staying at home and driving less during the coronavirus lockdown. And customers of Admiral's other brands – Bell, Diamond and Elephant – will also get the refunds.

The two top-paying easy-access savings providers Marcus and Saga cut the interest they pay new customers to 1.2% last Friday, and existing customers will also see rates drop. But after rival bank Aldermore also cut its rates over the weekend, Marcus and Saga remain the best buys.

The Government's Coronavirus Job Retention Scheme opened for applications this morning, with businesses now able to claim money from the state to help pay for staff salaries.

A total of 130,000 Metro Bank customers will receive average payments of about £86, after the bank failed to warn them properly about unarranged overdraft charges.

The financial regulator has proposed a new set of payment freezes for customers struggling to make payments on car finance deals, payday loans, buy-now-pay-later agreements and other credit products due to the coronavirus pandemic.