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Daily Mirror
15 hours ago
- Automotive
- Daily Mirror
Drivers issued 24 hour car insurance policy warning as Brits make costly mistake
An car insurance expert has revealed the biggest error British motorists make when purchasing protection cover for their vehicle — and it could be costing you an absolute fortune Brits have been warned over a little-known error people make when buying car insurance that could have a significant impact on the amount they pay. Much like in the early days of a relationship, coming across as needy won't do you any favours. Now is a great time to buy car insurance, as data from price comparison website and WTW revealed that the cost has tumbled to a two-year low. With this in mind, car finance specialist Tom Riley, owner of Simple PCP Claims, has provided some sage advice to ensure you get the best price possible. The expert explained that a great many motorists are falling into the trap of leaving their insurance renewal or new policy purchase until the very last minute, which can be a very costly mistake. "Most people leave buying their car insurance until the last minute," the ace said. "But if you're starting your policy tomorrow, you're essentially telling insurers you're desperate — and they'll charge accordingly. Insurance companies know that last-minute buyers haven't had time to shop around properly. They can afford to charge more because you need coverage immediately." So, by planning ahead and giving yourself plenty of time before your policy starts, you are far more likely to secure a better deal. Tom also provided another lesser-known tip — the day of the week you choose for your policy to begin can also influence the price. He recommends opting for a Sunday start date whenever possible. This small adjustment could make a noticeable difference to your annual premium. He advised: "Sunday policies are consistently cheaper than weekday starts. It is a quirk of the system that most drivers do not know about." Tom also recommends that adding an experienced named driver to the policy can lead to substantial savings — even if they are not a family member. This is a simple way to reduce costs without compromising on coverage. "A named driver with a clean record and years of experience can bring down your premium significantly," he added. "They don't need to live with you or be related." Another important factor is your job title. Tom pointed out that small changes in how you describe your occupation could affect your insurance costs: "A 'chef' might pay more than a 'kitchen staff member', even though they're essentially the same job. It's worth experimenting with different but accurate descriptions." With the cost of car insurance at a two-year low, these straightforward strategies could save drivers hundreds of pounds each year. But the biggest secret? According to Tom, you need to set your insurance start date at least 20 days in the future — 23 days being the sweet spot. He advised: "Start shopping around a month before your policy expires. Buy 23 days in advance, and don't be afraid to tweak your job description. These small changes add up to serious savings." Ultimately, a little forward planning and attention to detail could leave British drivers significantly better off. You never want to leave it until the last 24 hours, as then you're at the mercy of car insurance providers — who will see you coming a mile away when you are desperate.
Daily Mirror
13-06-2025
- Automotive
- Daily Mirror
Brits urged to keep car keys away from windows and doors in horror warning
UK motorists with a specific kind of car have been urged to take a simple safety precaution, after alarming data revealed that between 60 and 70 per cent of vehicles stolen in 2024 were keyless models Drivers are being warned about leaving their keys in their vehicles over a concerning spike in 'relay theft'. Many Brits are blindly unaware that leaving their keyless car fobs lying around could make them an easy victim of high-tech car crime. Unfortunately, car theft has evolved in line with technology, meaning computer-literate criminals can steal vehicles in seconds with advanced electronic devices. Possibly the most alarming method is known as ' relay theft ' — a terrifying technique targeting cars with keyless entry systems. This is where criminals exploit the wireless communication between your car and its key fob. Thieves use two small electronic devices: one is placed close to where the key fob is kept — the most obvious areas being window ledges or a hook hanging by the front door — while the other is positioned close to your car. The first device captures the signal emitted by your key fob and transmits it to the second device near your car, tricking it into believing the key is present and allowing thieves to unlock and start your car without ever physically touching your fob. And the scariest part is that the entire process is practically silent and can take less than half a minute, making it almost impossible for owners to detect until it is too late. As car finance expert and owner of Simple PCP Claims, Tom Riley, warns: "Most people have no idea how vulnerable their cars are to relay attacks. Thieves can steal a £40,000 car in under 30 seconds using equipment they can buy online for less than £100." Fortunately, there is a smart and simple way to protect your motor from relay theft — a handy, affordable gadget designed to block electromagnetic signals known as a Faraday pouch. When you place your key fob inside a Faraday pouch, it prevents any wireless communication between the fob and your car. The pouch is made from layers of conductive metal mesh, effectively creating a shield against the signal amplification devices used by thieves. It is strongly recommended that every keyless car owner invest in a Faraday pouch, especially seeing as they can cost less than five pounds, even for a good quality example. To use a Faraday pouch correctly, always place your key fob inside it whenever you are not using your car, especially at home or at work. Ensure the pouch is fully sealed, as even the smallest gap can allow signals to escape. You can test its effectiveness by standing near your car with the fob inside the pouch — if your vehicle still unlocks, the pouch is not working properly. Tom added: "A decent Faraday pouch costs less than a fiver but could save you thousands. It's the cheapest car security upgrade you'll ever make. There are fake and poor-quality pouches flooding the market that don't actually block signals. Always buy from reputable brands and test before you trust." Between 60 and 70 per cent of the cars stolen in 2024 were keyless models, with a mind-boggling 5,000 per cent increase in people googling 'how to stop keyless car theft' in the first quarter of 2025 alone. People caught carrying devices that can be used for relay theft including signal jammers could face up to five years in jail. Under the Crime and Policing Bill it is illegal to possess, sell, or distribute electronic gadgets designed for theft, however, reports of keyless car theft are still on the rise.
Wales Online
12-05-2025
- Business
- Wales Online
All the Nationwide customers who will be affected by June bank account changes
Our community members are treated to special offers, promotions and adverts from us and our partners. You can check out at any time. More info Nationwide has announced a raft of changes to bank accounts affecting millions of customers from June. Many Nationwide members with savings accounts will see changes from next month impacting their cash. Britain's biggest building society is slashing rates on a number of its savings accounts. READ MORE: The Nationwide customers who will qualify for new £100 bonus payments Get our best money saving tips and hacks by signing up to our newsletter This will hit returns made by customers on their savings. The announcement comes after the Bank of England's cut to the base rate in February and will come as a blow to savers. Rates will be lowered by between 0.1% and 0.25%. Money experts say Nationwide customers may now want to shift their money to another bank offering better interest rates. A number of accounts will be affected including the Reward Single Access ISA, the Reward ISA and Flex ISA. Other regular savings accounts and instant access will also be hit such as the Help to Buy, Continue to Save, Single Access Saver and Limited Access Saver. Antonia Medlicott, of financial education specialists, Investing Insiders, said: 'One thing is certain - savers relying on cash ISAs will experience diminishing returns as providers respond with cuts of their own. "One exception will be those who have locked in fixed rates, which could be a consideration for anyone looking to secure higher returns before these reductions occur." Tom Riley, Nationwide's director of retail products, said: "We have worked hard to limit the impact of the recent rate cut on our savers and have taken the decision to hold off from making changes for as long as possible. "Following these changes, our savings range will remain competitive and continue to pay more than the market average, giving savers every reason to put their money with Nationwide."
Daily Mirror
07-05-2025
- Business
- Daily Mirror
Nationwide making huge change to accounts in weeks - full list of those affected
The Bank of England's base rate impacts the interest offered on savings accounts - The higher the base rate, the higher the rate offered, and the lower the base rate, the lower the rate offered Nationwide will be making a huge change to millions of accounts within weeks - and savers are set to be worse off. The building society has announced that it will be cutting the interest rates on over 60 of its savings accounts from June 1. The move comes after the Bank of England slashed the base interest rate from 4.75% to 4.5% in February - and is set to cut it again by 0.25 percentage points tomorrow. The base rate impacts the interest offered on savings accounts. The higher the base rate, the higher the rate offered, and the lower the rate, the lower the rate offered. Lower rates are not good news for savers as this means they are paid less for their pots. Nationwide will cut the rate offered across 63 of its savings accounts, including its easy-access savers and Cash ISAs. Tom Riley, Nationwide's director of retail products, said the building society had "worked hard" to limit any reductions in savings rates. He added: "We have not made any changes to our Children's FlexOne Saver and those savings which encourage a savings habit. Following these changes, our savings range will remain competitive and continue to pay more than the market average, giving savers every reason to put their money with Nationwide." If the interest rate on one of your Nationwide savings accounts is being cut, you should receive notification from the building society. You are most likely to be sent an email. If the interst rate is changing on your savings account, then you can close the account and find another paying a better rate. However, it's not just the headline savings rate you should base things on, you should also look for any withdrawal penalties, when interest is paid and if the account comes with a temporary bonus rate. Join Money Saving Club's specialist topics Full list of Nationwide bank changes from June 1 Branch Limited Access - Now: 2.1% June 1: 1.9% Branch Reward Single Access ISA - Now: 3.55% June 1: 3.35% Branch Single Access - Now: 3.55% June 1: 3.35% Triple Access Online ISA - Now: 2% June 1: 1.8% Branch Triple Access ISA - Now: 2.15% % June 1: 1.95% Branch Easy Access ISA - Now: 1.8% June 1: 1.55% Branch Easy Access - Now: 1.8% June 1: 1.55% Branch Reward Saver - Now: 3.5% June 1: 3.3% Branch Reward ISA - Now: 3.5% June 1: 3.3% Business Investor - Now: 1.81% June 1: 1.56% Triple Access ISA - Now: 2.15% June 1: 1.95% Branch Easy Access ISA - Now: June 1: Easy Access ISA - Now: 1.80% June 1: 1.55% Easy Access ISA 2 - Now: 1.80% June 1: 1.55% e-ISA - Now: 1.80% June 1: 1.55% Fixed Term ISA Maturity - Now: 1.80% June 1: 1.55% Fixed Term Cash ISA Maturity - Now: 1.80% June 1: 1.55% Inheritance ISA - Now: 1.80% June 1: 1.55% Branch Easy Access - Now: 1.80% June 1: 1.55% Easy Access Saver - Now: 1.80% June 1: 1.55% CashBuilder Card - Now: 1.80% June 1: 1.55% Direct Saver - Now: 1.80% June 1: 1.55% Easy Access Card - Now: 1.80% June 1: 1.55% e-Savings - Now: 1.80% June 1: 1.55% Fixed Term Bond Maturity - Now: 1.80% June 1: 1.55% Instant Access Saver Issues 1-9 and 11 - Now: 1.80% June 1: 1.55% InvestDirect - Now: 1.80% June 1: 1.55% Fixed Term Branch Bond Maturity - Now: 1.80% June 1: 1.55% Fixed Term e-Bond Maturity - Now: 1.80% June 1: 1.55% Lapsed TESSA - Now: 1.80% June 1: 1.55% ShareSave Feeder - Now: 1.80% June 1: 1.55% Branch Reward ISA - Now: 3.50 % June 1: 3.30% Reward ISA - Now: 3.50 % June 1: 3.30% Business Investor - Now: 1.81% June 1: 1.56% Portfolio Investor - Now: 1.81% June 1: 1.56% Triple Access Saver - Now: 2.15% June 1: 1.95% Help to Buy: ISA - Now: 3.1% June 1: 2.90% e-Savings Plus - Now: 2.10% June 1: 1.90% Continue to Save - Now: 2.10% June 1: 2% Branch Smart Limited Adult - Now: 3.05% June 1: 2.85% Branch Smart Limited Child - Now: 3.05% June 1: 2.85% Smart Limited Access Adult - Now: 3.05% June 1: 2.85% Smart Limited Access Child - Now: 1.85% June 1: 1.60% Branch Flex Saver - Now: 1.85% June 1: 1.60% Flex Online Saver Issues 1 and 2 - Now: 1.85% June 1: 1.60% Flexclusive Saver (all issues) - Now: 1.85% June 1: 1.60% Flex Saver - Now: 1.85% June 1: 1.60% Corporate Savings - Now: 1.81% June 1: 1.56% Branch Flex ISA - Now: 1.85% June 1: 1.60% Flex ISA - Now: 1.85% June 1: 1.60% Instant Access Saver Issue 10 - Now: 2.05% June 1: 1.85% Single Access ISA - Now: 3.55% June 1: 3.35% Branch Smart Instant Adult - Now: 2.05% June 1: 1.85% Branch Smart Instant Child - Now: 2.05% June 1: 1.85% Branch Smart Saver - Now: 2.05% June 1: 1.85% Smart Instant Access Adult - Now: 2.05% June 1: 1.85% Smart Instant Access Child - Now: 2.05% June 1: 1.85% Smart Saver - Now: 2.05% June 1: 1.85% Flex Instant Saver - Now: 3% June 1: 2.75% Flex Instant Saver 2 - Now: 3% June 1: 2.75% Flex Instant Saver 3 - Now: 3% June 1: 2.75%
Scottish Sun
06-05-2025
- Business
- Scottish Sun
Nationwide to make big change to millions of bank accounts in weeks – and customers need to check now
Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) NATIONWIDE is making a big change to millions of accounts in weeks leaving savers worse off. The major building society is cutting interest rates on over 60 savings accounts from June 1. Sign up for Scottish Sun newsletter Sign up 1 Nationwide is cutting rates on dozens of savings accounts Credit: Alamy The move comes after the Bank of England slashed the base rate from 4.75% to 4.5% in February. The base rate affects the interest rates banks offer to customers on a range of products including savings accounts and mortgages. A lower base rate signals good news for mortgage holders but has a negative knock-on effect on savers who usually see their rates drop. Nationwide is cutting rates on 63 of its savings accounts on June 1, from ISAs to easy access savings accounts. Whether you are impacted and how much by depends on the type of account you have, plus how many withdrawals you can make from the account per year. For example, the interest rate on Nationwide's Triple Access ISA is currently 2.15% if you can make three or fewer withdrawals a year but from June 1 this will fall to 1.95%. If you've got the same savings account and can make four or more withdrawals each year the rate is currently 1.75% but will fall to 1.50% from June 1. Meanwhile, if you have a Single Access ISA and can make one or fewer withdrawals each year, the rate is dropping from 3.55% to 3.35%. However, if you can make two or fewer withdrawals each year, your rate will fall from 1.75% to 1.50%. Tom Riley, Nationwide's director of retail products, said the building society had "worked hard" to limit any reductions in savings rates. Switch bank accounts for free perks He added: "We have not made any changes to our Children's FlexOne Saver and those savings which encourage a savings habit. "Following these changes, our savings range will remain competitive and continue to pay more than the market average, giving savers every reason to put their money with Nationwide." Not all savers will see their interest rates fall from June 1, including those with child savings accounts. For example, if you've got a Branch Smart Limited Child account and are allowed to make two or more withdrawals from it each year, the interest rate will stay at 1.80%. If the interest rate on one of your Nationwide savings accounts is being cut, you should receive notification from the building society telling you. This communication may come via email. For more information on what specific accounts will see their interest rates drop, go to What you can do if you're affected Nationwide customers set to see their savings account interest rates drop from June 1 could shop around for a different deal and switch. According to Chip and Sidekick are offering the best easy access account rates of 4.76%. Meanwhile, the best rate on an easy access Cash ISA is with Trading 212 which is offering a 5.07% rate. Of course, whenever you're looking to switch to a different savings rate, make sure you factor in everything before deciding to change. It's not just the headline savings rate you should keep an eye out for, but any withdrawal penalties, when interest is paid and if the account comes with a temporary bonus rate. A lot of banks and building societies offering bonus interest rates which last for a set period but then drop to a lower rate. Think about the type of savings account you want to switch to as well. If you've currently got an easy access savings account with Nationwide it could be worth switching to an ISA. The main advantage to ISAs is that you aren't taxed on any earnings whereas with a standard savings account you are taxed on interest earned above your Personal Savings Allowance (PSA). This is either £0, £500 or £1,000 depending on your income tax band. SAVING ACCOUNT TYPES THERE are four types of savings accounts fixed, notice, easy access, and regular savers. Separately, there are ISAs or individual savings accounts which allow individuals to save up to £20,000 a year tax-free. But we've rounded up the main types of conventional savings accounts below. FIXED-RATE A fixed-rate savings account or fixed-rate bond offers some of the highest interest rates but comes at the cost of being unable to withdraw your cash within the agreed term. This means that your money is locked in, so even if interest rates increase you are unable to move your money and switch to a better account. Some providers give the option to withdraw, but it comes with a hefty fee. NOTICE Notice accounts offer slightly lower rates in exchange for more flexibility when accessing your cash. These accounts don't lock your cash away for as long as a typical fixed bond account. You'll need to give advance notice to your bank - up to 180 days in some cases - before you can make a withdrawal or you'll lose the interest. EASY-ACCESS An easy-access account does what it says on the tin and usually allows unlimited cash withdrawals. These accounts tend to offer lower returns, but they are a good option if you want the freedom to move your money without being charged a penalty fee. REGULAR SAVER These accounts pay some of the best returns as long as you pay in a set amount each month. You'll usually need to hold a current account with providers to access the best rates. However, if you have a lot of money to save, these accounts often come with monthly deposit limits. In other news, economists are predicting interest rates to fall at their fastest pace since the 2008 financial crash this year. The dropping rates spell bad news for savers who will likely see interest rates on their savings account fall further. Do you have a money problem that needs sorting? Get in touch by emailing money-sm@ Plus, you can join our Sun Money Chats and Tips Facebook group to share your tips and stories
