Balance Transfer Fees - the hidden danger

Most people are now aware of the fees being imposed by most credit card issuers for balance transfers, and while there are still cards available without a fee, a charge of 2.5% or thereabouts has become a fact of life.

Most cards with a transfer fee will cap the amount you have to pay at £50 or similar, with this figure hidden in the small print. Some cards, however, mention no upper limit - and if you don't notice this then you could be gouged quite painfully.

For example, transferring a £5,000 balance to a card charging a 3% fee with no upper limit would cost you £150, rather more than you might be expecting.

So, always check for a cap on charges before taking on a new card!

Is it worth switching energy supplier?

As energy prices continue to rise, it's becoming more and more important for people to minimise their gas and electricity costs. A popular method is to switch supplier in the hope of getting a better deal, and there are many sites out there which let you easily compare tariffs from the various companies.

But, as the price rises are caused by spiralling wholesale energy costs which affect all utility companies, will you really be able to get a cheaper deal?

The answer is still yes for many people, especially those who have never switched before.

When the industry was privatised and deregulated, most people simply stayed with whoever took over their regional supply for electricity, and stuck with British Gas as the name they knew.

These customers 'inherited' high prices as they were automatically placed on the most expensive tariff in most cases.

With increased competition these days, your current company is probably offering cheaper prices to new customers rather than rewarding loyalty, and so making the switch to a competitor can still save you up to £100 a year according to impartial estimates.

Unclaimed assets should go to charity

A government-backed report to be published tomorrow will call for possibly billions of pounds of unclaimed assets to be put towards charitable use.

Estimates of the value of unclaimed cash sitting in bank accounts vary, but most agree that the total runs into billions of pounds.

The report, complied by the Commission on Unclaimed Assets set up by chancellor Gordon Brown last year, says that a fund of at least £400m should be set up to help groups working to reduce poverty in some of the UK's poorest areas.

The money would be distributed by an independent 'social investment bank', and calls by banks for them to control distribution through their own foundations were rejected.

Under the proposals, only money that has been unclaimed for a period of 15 years or more will be used, and the original owners rights to reclaim the cash will still be preserved.