FinTech company Monzo is facing a Financial Conduct Authority investigation over allegations it may have flouted anti-money laundering laws. However, in its annual report, Monzo credits its growth over the past year to its ability to minimise losses despite the challenges of the Covid-19 pandemic.
HSBC has been linked to fraudulent activity in a leak of documents called the FinCEN Files. Britain's biggest bank moved millions of dollars around the world, even after it had learned about investment fraud.
The amount of online savings accounts on the market can be overwhelming at any point in your life. But what about when you are nearing retirement?
The Post Office offers far more than just a place from which to send parcels. In fact, it has branched out into offering customers a place to buy insurance policies, exchange money for foreign currency and even sign up for broadband. Additionally, it offers many financial products like savings and loans. But are its savings accounts worth opening?
The Government has many schemes in place to help people bolster their savings and pensions. One such scheme is the Help to Save initiative. But is it worth using if you are over 50 and nearing retirement?
We have all done it. Despite trying to be on top of our finances and logging every account we have, we have lost all details about a bank account we once used but never closed. So how do you find lost bank accounts? And what do you do if you unearth a dormant savings account?
Saving for retirement is not always about investing in the same pension fund for years. Some people prefer using savings accounts for retirement in addition to or even instead of a pension. Knowing how to find a worthwhile retirement savings account is vital.
With the nation under strict lockdown for many months and subjected to tiered restrictions for others, many were unable to spend in the usual way last year. For many people, taking an annual holiday was out of the question, while pubs and restaurants remained closed for most of the year. This led to people staying in more than going out, which resulted in a sharp drop in spending.