Archive: MoneySavingExpert's Money Tips Email

DEAL ENDED 3.20pm 15 June... Urgent! 4.2% 1-yr fixed savings loophole
Ready, set, GO! Last one like this disappeared in 24 hours. Beats top 2-year fix.

Fixed rate savings give high guaranteed rates, but you normally need to lock cash away. Occasionally we spot those allowing free withdrawals, so you get the high rate & access. All below have full £85,000 UK Savings Protection.

• Earn 4.2% AER for a year. The online Newcastle BS 5-Year Premier Bond pays 4.2% AER; not a high rate over five years, but unusually it allows penalty-free withdrawals with 180 days' notice. So you can apply, diarise to give notice in 6 mths, and it effectively becomes a 1-year bond at 4.2% interest, far higher than the top standard 1-year deal (3.55%) or even 2-year (4.01%), so you could keep it longer.
  
  Last time we spotted a deal like this and put it in the email it was closed within 24 hours so go quick. For full info, plus other deals, see Top Fixed Savings.
• Top 3.05% AER easy access savings. If you need ready access to your money Nationwide's* MySave Online Plus (min £1,000) pays 3.05% AER, yet it only allows 1 penalty-free withdrawal a year. If you need more, the Santander* eSaver pays 3%. Those with over £25,000 can get 3.1% with Kent Reliance though it's post/branch access only. These deals include year-long bonuses, so diarise to ditch & switch when they end. See Top Savings.
• Top easy access cash ISA 3.3% AER. If you haven't used your 2011/12 cash ISA allowance, it's a good place to start. Everyone aged 16+ can save up to £5,340 tax-free in a cash ISA. Top picks include Santander's Flexible ISA at 3.3% AER which tracks base rate for a year, so if that rises, as some predict, so will this. The AA's ISA pays a higher 3.35% (min £500) but doesn't track. See Top Cash ISAs

More savings, including a full rundown of the top normal fixed rates in the Updated Guides: Top Savings, Cash ISAs, ISA Transfers, Inflation Linked Savings Related: Safe Savings

Top 10 hidden Amazon bargain basement deals
Up to 90% off electronics, video games, toys etc | 100s of FREE Kindle eBooks

Our ever-popular Amazon Hidden Discount Finder Tool is now over a year old. To celebrate, we've compiled the ten most popular pages (see right) and a free Kindle eBook lists to boot.

'All-rounder' credit cards give 0% on spending AND debt shifted to the card. The big advantage is there's only one credit check. Always plan carefully, budget for & minimise new borrowing.

• New! 13 mth 0% balance transfers (2.89% fee) & spending. A new Virgin* credit card (Moneysup exclusive, link goes there) gives new cardholders 0% on debts shifted to it (with 2.89% fee) and new spending. Always repay in full within 13 mths or the rates jump to a big 18.9% and 20.9% representative APR, respectively.
  
  This card can't be used to shift debts from existing MBNA/Virgin cards. If you need that, next best's Barclaycard* Platinum at 0% for 12 mths on balance transfers (2.9% fee) & purchases. After the 0% it's 16.9% representative APR.
• 15mths 0% spending (only). If you only need 0% spending, Tesco* & M&S* give 0% for 15 mths. Repay before these end or rates jump to 16.9% and 15.9% representative APR, respectively. Full info in the 0% Cards guide.
• 20mths 0% balance transfers (only). Shift debts to a different Barclaycard Platinum* for 0% for 20 mths (3.2% fee), then 17.5% representative APR. If you can repay quicker, the 0% for 16 months with a lower 1.5% fee deal on another Virgin* card is cheaper (18.9% rep APR). For full details and to work out which is cheapest, see the special tool in the 0% Balance Transfers guide.

See full details and more options in the Updated Guide: 0% Spend & Balance Transfer and Official APR Examples

Gas & elec price hikes Q&A. Should EVERYONE fix now?
Scottish Power prices UP 19% | Other providers likely to follow | To beat hikes, act now

Scottish Power announced Aug 19% gas and 10% elec price hikes last week. Energy firms act like sheep so the rest are likely to follow. We had scores of questions so we've a Fix now? FAQ. Here's a summary (for all not just S Power custs):

• A fix saves me £150 a year. Why? Last week, we said those on standard tariffs should "fix now if you can't afford hikes" as it protects from rises for a set time. Many compared and were shocked they'd save big & get the price lock-in. Why? Simply because standard tariffs are massively over-expensive.
• Is the new price on comparison sites? Yes, results are now based on the POST-rise prices. Good for all but existing Scottish Power customers who should compare using Kilowatt hours used, not cost, as sites now inaccurately assume the past bill was accrued at post-rise prices - so it thinks you've used less than you have.
• Should I call my existing provider to fix? No, no, no. This isn't about grabbing any fix. That could leave you locking-in at a high cost - it's about locking-in on the cheapest fix.
• How do I find the cheapest fix? It depends on location and usage, so use a comparison site and click 'show only fixed tariffs'. Top Comparison: Energyhelpline* pays £15 cashback via this link per gas, elec or dual switch. Dual Fuel: MoneySupermarket* pays £30, Uswitch* a crate of wine, SimplySwitch* £40 cash.
• The comparison showed me it'll cost MORE to fix? This is common if you're already on a cheap discount tariff. Prices are predicted, though not guaranteed, to rise 10%-20%, so if you'll pay more than that on a fix, it's likely to be best to stay put. If the gap's less, balance savings now against a fix's price certainty.
• Ditch my current fix to fix again? Past fixes are likely to be much cheaper than current ones, so generally stick with them (compare to check). Yet if you've only a short time left, the risk of waiting is today's cheapest fixes will be replaced by costlier versions - so balance that against the £50-£80 exit penalty.
  
• How long should I fix? Most fixes are 18 months, but longer ones at higher rates exist. While long term (5yr+) energy prices are likely to keep rising, market fluctuations can see prices drop over a shorter cycle. So this is about your attitude to risk. If price surety's more important than the very cheapest prices, fix long.
  

Full info, help for prepaid customers & cashback in the Updated Guide: Cheap Gas & Elec Related: Energy Grants

PPI - Lloyds says 'sorry', Barclays says 'here's the cash'
Barclays to pay EVERYONE on hold | Lloyds says those wrongly rejected should contact it

It's the language of contrition. Banks are finally hanging their heads in shame over the disgraceful way they mis-sold payment protection insurance (PPI) on loans & cards and the disgraceful way they handled complaints. This week ...

• Exclusive! Lloyds/Hbos says sorry. In our exclusive interview, the boss of PPI reclaiming at Lloyds (includes Halifax) apologised for mis-selling and confirmed it's aiming to contact those systemically mis-sold (eg, where lack of staff training led to a mass of dodgy sales) even if they've not complained. Yet there are many people who've been mis-sold outside of this; they should still contact it.
  
  He also invited those previously rejected to re-open their complaints. Some 500 new staff are being recruited to handle the deluge, and it has set aside £3.2 billion to pay claims. See full Lloyds PPI interview.
  
• Barclays/Barclaycard to auto-settle claims of anyone on hold. Barclays has put aside £1 billion and will pay in-full all PPI claims it put on hold on or before 20 April. In other words, if you complained and it didn't deal with it, it'll pay you out, no questions asked, plus interest at 8%.
  
  Complaints received afterwards will be assessed as normal (though rejections are less likely now). There's no policy yet on already-rejected claims but it will listen to them if you re-start. See Barclays promises to settle news.

FULL, FREE RECLAIMING HELP including template letters in the MSE Guides: Reclaim Loan PPI or Reclaim Credit Card PPI. Related reclaims: Council Tax, Bank Charges