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by the following authors: 'Simon Rex'

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Complaints about a Financial Services Organisation

Factsheet,
Contact:
simon rex,
Last updated:
16 October 2013

How do I make a complaint? If you’re not happy with the service you receive from your financial institution and you wish to make a complaint, your first step is to make a formal complaint to the company involved. Financial institutions are obliged to tell you how to mak...

Credit Unions

Factsheet,
Contact:
simon rex,
Last updated:
23 October 2013

What is a credit union? Credit unions aim to help you take control of your money by encouraging you to save what you can, and borrow only what you can afford to repay. They are community savings and loans co-operatives, where members pool their savings, which are then used...

Fraud

Factsheet,
Contact:
simon rex,
Last updated:
15 October 2013

Being a victim of fraud is never a pleasant experience. If you think that you have been a victim of fraud or attempted fraud you can report the incident and get advice on what to do next via ActionFraud - the UK's national fraud and internet crime centre. You can access Act...

Guidance for people wanting to manage a bank account for someone else

Factsheet,
Contact:
simon rex,
Last updated:
28 May 2013

Banks and building societies understand that it is sometimes necessary for a customer’s account to be handled by another person. This guidance explains how a person can manage a bank or building society account on another person’s behalf. It describes the circumstances...

How do I set up a new building society?

Factsheet,
Contact:
simon rex,
Last updated:
15 May 2014

The youngest building society is the Ecology Building Society which was established in 1980. Since then increasing regulation, in particular stringent capital requirements, has made the setting up of a new society much more difficult and financial institutions find it easi...

The Building Societies Act 1986 - A BSA Summary Sixth Edition

Factsheet,
Contact:
simon rex,
Last updated:
05 December 2013

Incorporating relevant aspects of the Financial Services and Markets Act 2000 Introduction The Building Societies Act 1986 gave building societies what, at the time, was a completely new legal framework for the first time since the initial comprehensive building soci...

The History of Building Societies

Factsheet,
Contact:
simon rex,
Last updated:
18 April 2019

1775 The first known society was formed - Richard Ketley's, at the Golden Cross Inn, Birmingham. The earliest societies were 'terminating', and wound up when all their members had been housed. They were confined to the Midlands and the North of England. The last terminating...

What are PIBS?

Factsheet,
Contact:
simon rex,
Last updated:
15 June 2014

Permanent Interest Bearing Shares (PIBS) are securities previously issued by building societies, usually at fixed interest rates, and quoted on the stock market. Occasionally, a building society issued floating rate PIBS, where the interest rate changed in line with other rat...

Your Rights as a Building Society Member

Factsheet,
Contact:
simon rex,
Last updated:
22 May 2014

As a member of a building society you are more than just a customer, and as such, you have certain rights to receive information and to voice your opinions on the way your building society is run. This factsheet explains what your rights are and how to exercise them.  ...

Mortgage applications: looking at life events

Factsheet,
Contact:
simon rex,
Last updated:
27 November 2013

Guidance for mortgage applicants in relation to future changes/ life events    Who produced this guidance? This guidance was produced by the Council of Mortgage Lenders (now part of UK Finance) and the Building Societies Association (BSA). UK Finance and the BSA are i...

Are my savings safe with a building society?

Factsheet,
Contact:
simon rex,
Last updated:
12 February 2019

Savers are protected under the Financial Servies Compensation Scheme (FSCS) to a current limit of £85,000. The compensation limit applies to each saver for the total of their savings with a building society or other mutual deposit taker, regardless of how many accounts they h...

Basic bank accounts

Factsheet,
Contact:
simon rex,
Last updated:
15 October 2013

What is a basic bank account? A Basic Bank Account allows you to receive money and pay bills. However, this kind of account does not allow you to go overdrawn by more than £10, if at all. A Basic Bank Account can be the first step towards opening a regular current accou...

Help to Buy ISA

Factsheet,
Contact:
simon rex,
Last updated:
20 February 2019

From 1 December 2015 a new type of ISA was made available to help first time buyers save for a deposit. The March 2015 Budget announced the Help to Buy ISA. The scheme works by providing a government bonus to each person who has saved into a Help to Buy ISA at the point they...

Lost a savings account?

Factsheet,
Contact:
simon rex,
Last updated:
23 April 2015

Through the BSA website you can trace savings that you have lost touch with. It is also possible to trace another person's lost account if you are legally empowered to do so. This web-based tracing service is FREE and operates through: mylostaccount.org.uk Mylostacco...

Obtaining additional ISA allowances following the death of your spouse or civil partner

Factsheet,
Contact:
simon rex,
Last updated:
05 February 2019

In the 2014 Autumn Statement it was announced that ISA allowances could be passed on to surviving spouses/ civil partners when a saver dies.  Under the old rules, if a saver with an ISA died, the tax benefits fall away on death and the holdings are added to his/ her estate. ...