A new system to prevent online shopping fraud, due to have been introduced from September, has been delayed for 18 months. Under the system, at the point of the online checkout for purchases of £28 or more a passcode would be sent from the customer’s bank to their mobile phone. However, sufficient preparations were not in place to start the system in September, whilst concern has been raised for those who live in a weak mobile phone signal areas. Retailers also felt if there were problems with the passcodes, consumers would abandon their online purchase.
Rail ticket prices will rise by 2.8% from January 2020. Commuters are likely to face an increase of more than £100 in the cost of an annual season ticket.
The Department for Transport has announced the 16-17 Saver card, a new railcard offering half-price fares for 16 and 17 year olds, aimed at those who travel to school or college by train. The card, which went on sale on 20 August, will cost £30 a year and can be purchased online via a dedicated website. It will be valid for tickets from 2 September and can be used on standard class journeys starting in England and Wales, and is valid for season tickets. It cannot be used on ScotRail or the Caledonian Sleeper.
To encourage customers to switch, the UK’s competition authority requires regular surveys of the performance of personal and business banking services. The most recent survey of 4,000 personal customers rated Metro to have the best overall service quality, whilst RBS was at the bottom.
Payday lenders have been targeting parents, advertising loans with interest rates of up to 1,333% to cover the unexpected new school year costs.
The government is holding over £28m of overpayments on student loans in England as a result of repayments being taken even though the loan had been paid off in full. The Student Loans Company says it has tried to contact people who have been overcharged to arrange refunds, but contact details are out of date and refunds depend on former students making contact.