You shouldn't show your boarding pass in all airport shops
**Ensure you claim PPI for deceased relatives, top one-year fixed savings, free water during the heatwave and don’t show your boarding pass in all airport shops.**
Remember, tips can change quickly, even while I’m on the programme. So always double-check the terms and conditions before spending. Plus, while I hope these tips will save you cash, don’t spend if you can’t afford it, don’t need it, or won’t use it.
Urgent – you can reclaim PPI for a deceased relative
The PPI deadline is nearing, it’s little over a month away – 29 August, and if you haven’t started a claim by then, you won’t be allowed to do so (apart from taking court action). So anyone who has ever had a loan, mortgage, credit card, store card, overdraft or car finance should check now if you were sold PPI (and due to the Plevin rule, even just having PPI since 2008 means in most cases you’re owed money). You don’t need to pay anyone to reclaim use Martin’s Free PPI reclaiming tool with lots of guidance, or read Which’s info, and if you’re stuck, call the regulator, the FCA’s helpline on 0800 101 8800.
But it’s not only you who can claim. You can also reclaim mis-sold PPI for a deceased relative – and ever since I first warned of the PPI scam in 2001 (and it’s been going on far longer), that’s an estimated 10m Brits, many of them would have lost out to this bank and building society heist. Yet while the official deadline is a month away, if it's for someone who has passed away, it's even more urgent as getting the paperwork together may take time.
Any money owed become part of the estate and goes to the beneficiaries, though officially the executor (if there’s a will), administrator (if there’s no will) or next of kin (for small estates) needs to make the claim with the lender.
You claim in the usual way, but you’ll need to have all your paperwork ready (e.g. probate or letters of administration) and remember there’s no need to pay any one, there’s free template letters available online to help. It’ll also help if you know as many details as you know about the deceased's circumstances at the time they got the policy – employment, sick pay entitlement, additional cover they had, and their health. Better still, if someone else was present at the time of the sale, they can tell what they remember (especially where the credit was taken by more than one person).
I’ve heard of many success like Mrs Cork who emailed “I found several old loan statements showing PPI in my late husband's paperwork. Six weeks later, the bank wrote back saying they would be paying me £33,000. Thank you”. If you’re wondering how you can prove the mis-selling for a deceased relative, remember this was systemic mis-selling, it was sold as a matter of course, so the company should look to see if other people in similar circumstances were mis-sold, and if they don’t, and you’re rejected, carry on to the free financial ombudsman service who will look at that.
Top one-year fixed savings
And if you need a place to put your PPI pay out money, or you just have savings, then there’s a new top payer on the market if you’re willing to lock cash away for a year. Shawbrook Bank is now paying 2.02% AER on min £1,000. You can open and manage the account online and Shawbrook Bank is fully regulated which means in the unlikely event they went insolvent you get the full UK £85,000 per person, per institution savings safety guarantee.
Slightly higher rates are available from Sharia savings provider BLME at 2.2% AER - anyone can open these, but as interest is prohibited within Islam you don’t get interest you get an ‘expected profit’ rate. I’ve never heard of a UK Sharia complaint account not paying the full rate, but obviously it’s not quite the same as normal savings. Worth considering though. It’s also fully UK FSCS regulated.
Alternatively, if you don’t want to tie up your money, the top easy-access account is Marcus Bank (part of investment bank Goldman Sachs) paying 1.5% AER - including a 0.15% bonus for 12 months – after which the rate will drop so you make you sure you diarise and switch then. You can save from £1 and make unlimited withdrawals. It too has the full £85,000 UK savings safety guarantee.
Free water refills in this heat wave: Today is supposed to be a scorcher and no doubt many out and about will be more thirsty than usual. But there’s no need to spend a small fortune on bottled water. The free Refill app lists over 20,000 businesses (shows you on a map) – cafés, restaurants, shops, hotels and more – which will let you fill up your own bottle even if you're not a customer. It works across 100-odd parts of the UK where the Refill scheme operates. So save some money and the environment too.
But, it’s also worth noting, that in England, Wales and Scotland not all restaurants and cafes have to serve you free water, even if you’re eating there. Legally only places that serve alcohol (so most likely all bars and pubs) have to give you water for free - though most others generally will if you ask. In Northern Ireland there’s no law requiring restaurants to give free water even if they serve alcohol, though tap water is generally free anyway.
And remember many big name fast food chains usually give you a glass of tap water if you ask rather than buying expensive bottled water.
You don’t need to show your boarding pass in airport shops – except at duty free: If jetting of this summer, it is worth bearing in mind that there’s NO legal or security requirement for you to show your boarding pass in any airport shop, with the exception of Duty Free (you must show it there whatever you’re buying). They ask because if you are travelling outside of the European Union (your boarding pass proves this) the shop can reclaim the VAT paid.
Yet this VAT should really (in my view) be passed back to the customer. So I believe you should make a point and politely decline showing them your pass unless they do. I campaigned on this a couple of years ago, and thankfully it’s had some impact. If you’re travelling outside the EU then WH Smiths and Boots don’t ask for it for individual items over £6 and £5.