Archive: MoneySavingExpert's Money Tips Email

Warning! Millions duped by old ISAs
Check now! Annual statements show pitiful rates, eg, 0.1%. Transfer to 3%+

Don't ignore annual cash ISA statements hitting doormats. Urgently check the interest; it's likely to have plummeted as banks drop rates when they're out of sight. Yet you've a RIGHT to transfer to boost the return. Cash ISAs are simply tax-free savings over-16s can put £5,340/yr in. All accounts below have full UK savings protection.

• Top 3% easy access ISA transfers. The 3% AER Halifax ISA Direct Reward accepts new money and transfers (some existing customers get 3.2%). The Nationwide* e-ISA pays a higher 3.1% AER, but only to existing customers. Both rates plummet after a year, so transfer again, but consolidating old ISAs makes it easier. If you're prepared to apply & withdraw by post, Kent Reliance BS pays 3.01%.
• Fix up to 5% AER. If you lock cash away without access, interest rockets. However, if other rates rise, these no longer look good plus you'll pay hefty withdrawal penalties. Top transfer rates incl 1-yr: Dunfermline 3.2% AER. 2-yr: Santander 3.7%. 3-yr: KRBS 4%. 4-yr: Cheshire 4.4%. 5-yr: BM Savings 5%.
• Don't withdraw cash to transfer. Do that and you lose the tax-free benefits. Instead, call the new provider and ask it to "transfer my ISA". Also check your provider isn't one of the very few that charges a transfer-out penalty. If it does, factor that into whether you'll gain.

For more details on transferring, plus extra best buys incl inflation-beating ISAs, read the Updated Guides: Cash ISA Transfers Related: Top 2011/12 Cash ISAs, Inflation-Linked Savings, Are My Savings Safe?

Holiday 'lates' started: eg, 2-star Greece £147
Up to 50% 'last chance' summer deals | Step-by-step system for mega discounts

Go away specifically for 7, 10 or 14-day breaks in traditional holiday resorts, and Cheap Package Holidays from travel agents can smash DIY online booking deals, especially in the late market, where agents slash prices to sell leftovers.

• Book 8-10 weeks ahead. To get hot 'n' cheap, hold your nerve and the price shrinks, especially with less than two months to go. So now's perfect for the start of summer lates, but you must be flexible - if a crèche or specific hotel are a must, it's tough.
• First find the package - they're like CDs! Tour operators make holidays, travel agents sell 'em, so like CDs, the same holiday may be sold by many agents. So first pick a holiday within budget (either call late-specialist agents or use sites such as TravelSupermarket*, Teletextholidays or IceLolly). Once you find it, get ALL details, then ...
• ... haggle up to 10% off. Ring late agents, quoting the specific holiday details and see if they can beat the price (often works for early and late deals). You may cut up to 10% - that's £100s off family breaks.
• Proof! Sub-£200 week in the sun. We spent an hour calling and discovered these corker real deals: a week in Crete 2-star self-catering (SC) £147 per person; a week 3-star Algarve SC £149pp; 3-star Cyprus SC £171pp.

FULL info in the Updated Guide: Cheap Package Holidays. Related Savings: £15 Annual Travel Insurance, Cheap Car Hire & Currency Comparison

Warning! You now NEED car insurance even when not driving
You'll be fined if cover lapses | Don't overpay just to avoid new law | Save £100s on insurance

You've always needed cover to drive, but the new Continuous Insurance Enforcement regime means from 20 June, if you've an uninsured car, van, motorbike or motor home, you're breaking the law whether you drive it or not.

• You can be fined or have your car destroyed. Even if you let cover lapse during holidays or hospital stays you'll be breaking the law. There's a £100 fine followed by clamping, seizure or it being DESTROYED, though warning letters come first.
• Avoid it with a Sorn. Those with a valid Statutory Off-Road Notice (Sorn, apply at Direct.gov) who keep their motor off-road (garage or driveway - not roadside or grass verges) don't need cover.
• Diarise SIX weeks before renewal. The change is rightly to cut uninsured driving by allowing the Govt to match databases of cars and insurance. Our worry is many will just auto-renew cover to avoid fines and thus pay more. Don't wait for insurers' reminders, give yourself time to find the cheapest by checking six weeks ahead.
• How to slash costs. In a nutshell, first combine comparison services MoneySupermarket* and GoCompare* to get a wide spread of quotes, then add big insurers Aviva* and Direct Line*, which they miss. Once you find the cheapest, check the policy is suitable and look for promos, try cashback sites, or for speed, two comparison sites give cashback: BeatThatQuote* (£25) or SimplySwitch* (£40).
  

Full info & warnings in the MSE Guide: Cheap Car Insurance, Van, Motorbike. Related: Home Insurance, Travel Insurance

New! Free £125 or 2% cashback DEBIT card
Bank account war hots up | Grab cash they're fighting to buy new customers with

A highly unusual current account's just launched. It pays when you spend on its debit card - normally the preserve of credit cards. Not to be outdone, Santander's upped its sign-up bonus. But you need to pass a credit check.

• New! 2% cashback DEBIT card. Some RBS*/Natwest* bank accounts give new customers paying £1,000+ a month in (eg, £14,200+ salary) a debit card paying 2% cashback for the first 6 mths (max £125). Sadly, the cashback then ends, but as it never makes you switch direct debits, you can just stop using it. It has decent customer service (83% good/OK) yet alternatives can pay more ...
  
• New £125 sign-up bonus or £5 EVERY month. Switchers to Santander's* Preferred account paying in a £14,200+ salary get £100, a £25 Amazon voucher (via this Moneysup link), 5% in-credit interest up to £2.5k and a 0% overdraft in year one. It's unbeatable on rate, but a huge 41% say customer service is poor. Alternatively, Halifax's* Reward acc pays £5/mth when you switch a £14,200+ salary in, or top-for-service bank First Direct* gives £100 when you switch and pay £23,100+ salary in.
  
• 5% credit card cashback + £15 ends Thurs. For long-term cashback, the Amex Platinum* credit card pays new customers 5% for 3 months (up to £100), then up to 1.25%. Plus, apply via Moneysupermarket (link above takes you there) and you get an extra £15 cashback (need £30,000+ family income). Over the long term, MBNA Amex* pays a consistent 1.5% on petrol/supermarket purchases and 0.75% on all else. With both, you MUST repay in full every month to avoid the 19.9% or 18.9% representative APRs, respectively.
  

Full info & best-buys in Updated Guides: Best Bank Accounts, Cashback Credit Cards (see Official APR Examples)

Over 100 FREE UK museums & galleries
Free bank holiday days out: science, dinosaurs, art & money! A-Z region-by-region guide

There are a wealth of free museums across the UK. We've gathered them together in a Free Museums guide for every region, with maps, opening times and tips.

• Don't think staid and boring. Museums have stepped up to the plate, with funky child-friendly exhibits such as in the amazing British Museum (I'm fascinated by the Rosetta Stone - ML) and the London and Manchester Science Museums. Others include the Big Pit National Coal Museum in Wales and the games factory at Devon's House of Marbles.
• Museums for MoneySavers. If you love your dosh, you can lift a real 13kg gold bar (through a hole in a cabinet) at the Bank of England Museum, or try the Savings Banks Museum in Dumfries.
• See all free museums in your region. Just click Scotland, Wales, N. Ireland, NE England, NW England, Yorkshire & Humberside, E Midlands, W Midlands, E England, London, SE England, SW England

Browse the full list in the Updated Guide: Free Museums & Galleries Related: Theme Parks, Days Out

Ever had PPI reclaim rejected? Try again!
If valid mis-selling claim was turned down, you're much more likely to win now

Over 1.3 million MSE template letters have been downloaded in recent years to help people reclaim mis-sold payment protection insurance (PPI) on cards & loans. Yet banks and other lenders rejected 60% of complaints on average, including MANY valid ones, to put people off. Now they've thrown in the towel ...

• Complaint rejected by bank/lender? If you were mis-sold, complained, had it rejected but didn't appeal to the Ombudsman, start a fresh complaint to the bank/lender (free help in the Reclaim Loan PPI and Reclaim Credit Card PPI guides). The banks we spoke to confirmed they will hear re-started complaints.
• Can't I just appeal to the Ombudsman? You can usually only escalate to the free, independent Financial Ombudsman Service within six months of rejection (exact rules in Ombudsman guide). Many previously rejected fall foul of this, so must restart. Sadly, you may not be able to appeal to the Ombudsman if the restarted claim's rejected, especially if you originally complained over three years ago, though it's still undecided (we'll update the guide when we know more). While you may lose your right to appeal, banks are less likely to reject in the first place now as their attitude has changed, so no harm trying.
• What if my claim's on hold? If you weren't rejected but the bank just said the case is on hold, expect to be contacted in the next few weeks (if not already).
• Won't the bank contact me? If deemed to be a victim of 'systemic mis-selling' the banks should contact you, but it could take up to a year, and there are many who've been mis-sold but not systemically, hence why you should do it now, yourself.
  

And remember, DON'T PAY TO RECLAIM. Full free help to do it yourself in the Updated Guides: PPI Reclaiming, Credit Card PPI Reclaiming Related Reclaiming: Bank Charges, Credit Card Charges, Council Tax