SkyNewswire.com

Report Shows Huge Number Of Complaints Made to Banks. Only Half Of PPI Claims Are Successful

Mon, 30 Aug 2010 03:00:00 -0200

(SkyNewswire.com) --- Staggering statistics have just been released by The Telegraph revealing that leading high street banks and financial institutions receive daily complaints numbering in the thousands.

In the six months to June, Lloyds TSB Group received 288,717, equivalent to 1,850 daily. Most of the complaints related to banking issues - overdrafts and overdraft charges but more than 41,000 related to complaints about the way the group sold insurance products, primarily mis-selling of payment protection insurance (PPI). Where customers complained - 54% were successful in their claims for mis-sold PPI.

Barclaycard Reveals Two Minute Limit for Britain's Impatient Shoppers

Fri, 20 Aug 2010 17:00:00 -0200

(SkyNewswire.com) --- Barclays' and Barclaycard's latest research reveals that far from the stereotype as a nation that loves to wait in line, two fifths of Brits refuse to queue for longer than two minutes and 68% regularly abandon purchases.

According to the poll of 2,000 shoppers*, women will queue only 12 seconds longer than men, but the biggest surprise is the willingness of younger shoppers (18-24) to wait a full two minutes longer in line than those aged 55-64.

Saxo Bank Announces Half Year Results

Fri, 20 Aug 2010 14:00:00 -0200

(SkyNewswire.com) --- Saxo Bank has announced its half year results, with the trading specialist reporting pre-tax profits of DKK 729 million and a net profit of DKK 551 million. The results for the first half of 2010 also revealed the company's operating income reached DKK 1,992 million and an EBITDA of DKK 881 million. The solvency ratio for Saxo Bank Group was 19.2% (18.9%).

The results achieved in the first six months of 2010 are rooted in increased market activity as well as decisions and actions taken since shortly before the onset of the financial crisis in the autumn of 2008. Since then The Bank has:
- increased efficiency through IT investments, work process rationalisation, outsourcing and business focus;
- reduced its headcount by approximately 40% from the peak level in September 2008
- completed 10 acquisitions, all of which have lived up to expectations
- launched significant new products within FX, Equities and Commodities
- expanded the business to include asset management
- increased its geographical footprint with new offices in nine countries
- increased its deposits and funds under management significantly
- established IT development centres in India and Ukraine in addition to its Danish IT centre.

Top 5 IRA Mistakes Cost US Workers Thousands of Dollars

Tue, 17 Aug 2010 11:00:00 -0200

(SkyNewswire.com) --- Personal finance expert Alyssa Holden has published a list of the 5 biggest mistakes that people make with their Individual Retirement Accounts.

On her blog about IRA advice, Holden reports that in 2010, the average value of Individual Retirement Accounts in the United States fell to less than $28,000, the lowest number in a decade. This means Americans, many unemployed, must work even harder to pay for their retirement.

Budget Challenge: the Answer to the New State Personal Finance Requirements

Mon, 16 Aug 2010 14:00:00 -0200

(SkyNewswire.com) --- Announcing the successful pilot of Budget Challenge Personal Finance Simulation (budgetchallenge.com) in several Cincinnati area high schools. Budget Challenge is a revolutionary method for teaching high school students about personal finance and financial literacy. Developed by ProperLiving LLC, a family-owned start-up based in Cincinnati, OH, Budget Challenge uses simulation technology and modern financial tools such as online banking and electronic bill-pay to immerse students into the daily life of a typical young adult living independently for the first time.

Pilot programs were conducted in several Cincinnati high schools including St. Xavier High School, Saint Ursula Academy, Archbishop Moeller High School, and Reading High School.

MoneyNYC is Proud to Announce Payroll Solutions for Business Owners

Mon, 16 Aug 2010 12:00:00 -0200

(SkyNewswire.com) --- MoneyNYC.com is proud to announce it's latest offering of financial services solutions, Payroll Services - PayrollServicesNYC.com.

PayrollServicesNYC offers Payroll Services to small, medium, and larger businesses in the NY Metro area. Payroll is often a difficult and complicated issue for business owners to tackle. There are a lot of reporting requirements for taxes and insurance requirements for state and local agencies. With the ever changing laws surrounding payroll processing, it is recommended that business owners strongly consider leveraging a payroll provider to ensure that they are in compliance and not running the risk of any potential fines being levied against their business.

Halifax Discovers Â£42.9million Down the Back of Britain's Sofas

Thu, 12 Aug 2010 14:00:00 -0200

(SkyNewswire.com) --- New research from Halifax reveals that Brits are not looking after the pennies when it comes to making the most of loose change. Two thirds of Brits (65%) regularly find loose change in a variety of places which could be put to better use. With the average Brit thinking they have Â£1.61 in loose change down the back of the sofa, we could literally be sitting on Â£42.9million across the nation*.

Loose Change League Table
Unsurprisingly, pockets top the loose change league table with two fifths (39%) of Brits regularly finding loose change in them. This is closely followed by loose change lurking at the bottom of a bag (36%), in the car (27%) and down the back of the sofa (23%). (See table 1). The research revealed that the highest value of loose change is likely to be found in a desk drawer (Â£3.59), closely followed by pockets (Â£3.38) and in the car (Â£2.44).
Brits also estimate they have an average total of Â£17.69 floating around in these places. This amount falls to Â£15.43 for women but rises to Â£21.03 for men.

Free Mobile Banking for All Lloyds TSB Customers

Thu, 12 Aug 2010 03:00:00 -0200

(SkyNewswire.com) --- Lloyds TSB is introducing free mobile banking for all of its customers from 3 August, enabling more people to take control of their their finances.

Since the introduction of mobile banking in 2008, Lloyds TSB customers can manage their finances whilst on the move.
- Customers can transfer money between eligible accounts using the mobile banking application
- Low and High Balance alerts are sent to advise customers when their current account balances go above or below certain levels, which can be specified. This allows customers to avoid using their overdraft facility
- A 'near limit' alert when a customer's balance is within GBP50 of its account or planned overdraft limit, could help customers avoid unplanned overdraft fees
- An 'over limit' alert is sent when a customer's balance is over its limit or if a payment can't be made because there is not enough money in the account

Don't Walk Away, Consider Bankruptcy

Thu, 12 Aug 2010 01:00:00 -0200

(SkyNewswire.com) --- Between the current economic crisis and the collapse of the housing market, many homeowners find themselves either in a home they cannot afford or in a home that is not worth as much as they still owe. In either case, many borrowers may think handing over the keys and walking away is the best option - this may be a mistake.

Fannie Mae's Tougher Penalties
In October, Fannie Mae will begin increasing the penalties for borrowers who strategically default on a mortgage. A strategic default occurs when a borrower walks away, for whatever reason, from property and a mortgage that the borrower still has the ability and capacity to pay. Most borrowers who choose to engage in a strategic default do so because they calculate that it will take too long for the home's value to surpass the amount they still owe on the mortgage.

Tax Resolution Firm Blue Tax Successfully Obtains Full Wage Garnishment Release for Clients in Just One Day

Mon, 02 Aug 2010 12:00:00 -0200

(SkyNewswire.com) --- Speaking with Richard Lopez, CEO of Blue Tax this week, it appears that their company strategy is working. Blue Tax takes pride in their personal one-on-one approach to their client's IRS needs.

The expertise of the management teams at Blue Tax is shining through this week with the resolution of three more client's IRS issues. Thomas W. (Milbury, MA) had a tax liability of just over 10k. On 7/7/10 he hired Blue Tax to resolve the IRS issued bank levy he received. On 7/8/10 the diligent team at Blue Tax obtained a full bank levy release for this client. Russell and Susie K. (Norco,CA) had a tax liability of just over 11k. After receiving an IRS wage garnishment they hired Blue Tax on 7/13/10. Blue Tax obtained a full wage garnishment release on 7/14/10.

Edward Slominski, President of FrontStream Payments' Diversified Solutions Joins Decade Worldwide Advisory Board

Sat, 24 Jul 2010 11:00:00 -0200

(SkyNewswire.com) --- South Florida based bank card processing icon Edward Slominski has joined the newly formed Decade Worldwide's Advisory Board. Slominski is the innovator behind several proven bank card processing technologies including Swipe N' Go Â®, Click to GoÂ® Online Ordering and Mobile Ticketing SolutionsÂ®. In 1987, Slominski invented the first mobile breast cancer unit, which today is widely used for breast cancer screening. Among other distinctions, he was voted the Entrepreneur of the Year by Venture Magazine and was nominated for the prestigious Edwin L. Cox School of Business Award at Southern Methodist University.

Decade Worldwide, Inc. ("DW") is a multi-dimensional entertainment management company. DW is leading the field in the development of a "lifestyle experience" model for online fan clubs, providing an innovative and comprehensive user experience accessible by an artist's fans across the world. DW is composed of four internal divisions: Fanalyticsâ¢, Decade Entertainment, Decade Fashion, and Decade Sports. As a member of the DW Advisory Board, Slominski's principal role will be to provide management advice and insight as to what direction the company should follow. Specific goals for this year include developing three major Fanalytics â¢ sites, proper project rollouts, and the signing of three professional athletes and musicians to Decade Entertainment and Decade Sports.

Gold IRA Retirement Program From Regal Assets Offers Free Gold Coin

Mon, 19 Jul 2010 13:30:00 -0200

(SkyNewswire.com) --- Regal Assets has launched its new innovative gold retirement program initiative. For a limited period of time new clients purchasing physical gold while setting up their Gold IRA retirement plans will receive a free gold coin in their hand, which can amount to as much as an ounce of gold valued at over $1,200.00. The great part about this program is that clients will receive this gold coin in their hand so they can have a taste of what owning physical gold is like. The aim of this gold retirement plan initiative is to get people to roll over their existing retirement plans into gold so they can start protecting their wealth from impending inflation.

Most investors today are not aware of the fact that gold is the ultimate hedge that can be used against stock market losses and more importantly inflation. According to industry advisors, this is the right time for investors to purchase gold because all paper assets are continuing to devalue. Investment experts say that gold is the only way to go and is evident with the 400% appreciation it has had in the past few years. This is in contrast to the stock market that has been very unstable and unpredictable plummeting way below average levels.

Bankruptcy or Debt Consolidation: Which Path Should You Take?

Fri, 16 Jul 2010 15:30:00 -0200

(SkyNewswire.com) --- If you feel overwhelmed by seemingly insurmountable debt caused by a prolonged illness, job loss, failing business, divorce or other reason, you may be considering a bankruptcy filing or debt consolidation. The goal of both of these options is to help you regain control of your finances, but they are wildly different. What is right for someone else may not be right for you. It is vitally important that you find the debt relief option that best meets your needs.

Higher-Value, Complex Debt? Bankruptcy Might Be Your Best Bet.
Complicated debts (like those involving one or more mortgages, car payments, mixed-ownership-assets and those of high value) may be best resolved through a Chapter 7 or Chapter 13 personal bankruptcy filing. An important benefit of bankruptcy is that it brings immediate relief: all collection actions - including foreclosures, garnishments, repossessions and creditor harassment - must stop when a bankruptcy proceeding begins. Chapter 7 bankruptcy will discharge your unsecured debt, wiping the slate clean quickly. Chapter 13 may not discharge as many of your debts immediately, but it does combine them into a single monthly payment that you will make for a set period.

Plan Finances Early to Avoid Debt Worries

Wed, 14 Jul 2010 15:00:00 -0200

(SkyNewswire.com) --- Responding to research from uSwitch.com which found that debt and other financial worries are forcing new mums back to work early, financial solutions company Think Money said that new parents and parents-to-be should bear in mind the longer-term financial impact of a new addition to the family - and take care of their money accordingly. uSwitch.com found that over half (52%) of mothers returning to work did so because of financial constraints, compared with just 22% returning to further their career. Furthermore, over four in ten (41%) end up in debt during their maternity leave, and almost one in ten (9%) have to return to work earlier than they would like just to make ends meet.

A financial expert at Think Money commented:
"Becoming a parent often comes with its financial downsides. Most families will experience the temporary loss of one parent's earnings after the birth of a child, as well as the increased household costs. "This is just one of many things that parents must plan for. It's a good idea to set aside some time to work out a new budget for the future.

4,000 Consumers Use LoanGuru.com.sg in First 6 Months

Thu, 08 Jul 2010 15:30:00 -0200

(SkyNewswire.com) --- LoanGuru.com.sg provides a one stop mortgage solution which helps users compare and find the best mortgage packages from 18 major local and international banks such as DBS, UOB, OCBC, Lloyds TSB, ANZ, etc. with just a few clicks - and free of charge. Mortgage packages are updated real time and this even includes a Fast Approval In Principle (AIP) service that can help users obtain their loan approval within the same day of application.

To use the services, consumers simply enter their finance requirements such as new versus refinance loan and loan value required â and an automatic recommendation from over 200 up-to-date mortgage packages appears within minutes. This includes Singapore as well as International new and refinance home loans. LoanGuru is an accredited member of the Mortgage & Finance Association of Singapore (MFAS) and has a team of independent fully-accredited mortgage advisors providing the personal touch, helping consumers make the right decision as well as processing the necessary paperwork. The website is also security-protected by Thawte, the leading international website security firm owned by Verisign.