11
Million Under the Mattress
It made the headlines, it’s still making the news and it’s
still the talk of the country – the Northern Bank raid when
26 and a half million pounds was stolen.
Well while the “who’s what’s and wherefores”
of the raid are being hotly disputed, we’re all still using
Northern Bank notes in our daily life. The bank says they’re
going to replace all their notes with ones of a different colour
and design, but when one elderly listener wants to know!
According to a Post Office survey 11 million people have money stashed
away – there’s £ 800m hidden around our homes!
A quarter keep cash tucked away in sock drawers, coffee jars, and
under the mattress in addition to money kept in purses and wallets.
• 36% keep money for everyday expenses like household bills
• 33% put money aside for emergencies and rainy day savings
• 13% plan ahead with money put aside for Christmas
Any Ulster people with money in
hidey-holes may have a dilemma ahead when the Northern Bank notes
are re issued! Notes will have to be taken to the bank and anyone
declaring very large amounts will have to satisfy normal anti money
laundering laws that the cash is not an ill-gotten gain.
If you’ve had any difficulties paying with Northern Bank notes,
or any other banking issue you’d like our help with,
If you think you have experienced fraud through an ATM you should
contact your bank and the police and if you are unhappy with your
bank’s response you should contact the Financial Ombudsman
- 0845 080 1800
Consumer Helpline 0845 606 1234
If you’re thinking
of changing banks
The General Consumer Council has a new leaflet coming out on Monday
to help consumers switch bank accounts.
Their message is – take charge - don’t be overcharged.
Vote with your feet and switch to an account that works better for
you
The Consumer Council will launch a leaflet on Monday 14 February
to help consumers switch bank accounts.
Consumerline 0845 600 6262
Steve Costello, Chairman of the Consumer Council says - The Consumer
Council calls again on the banks to treat their customers fairly,
scrap all transaction charges and offer decent interest rates.
“They must change. Consumers
don’t need new accounts; they need fair products and fair
practice.”
The OFT also said that consumers can change the market by shopping
around more.
Steve Costello continued: “The banks have given consumers
little incentive to change bank accounts because the products they
offer are the similar poor value. Northern Ireland customers are
loyal and trustworthy. Banks must now earn that trust and loyalty.
The OFT are telling the banks that they must change. The Consumer
Council is telling consumers – take charge - don’t be
overcharged. Vote with your feet and switch to an account that works
better for you.
The Financial Services Authority,
25 The North Colonnade,
Canary Wharf,
London E14 5HS
A.P.A.C.S (Association for Payment
Clearing Services)
Mercury House, Triton Court, 14 Finsbury Square,
London EC2A 1LQ
Tel: 020 7711 6200
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