Ways to reduce your banking rates in UK

Bank Rate

Bank Rate

When not checked, banking rats in the United Kingdom can be pain at times, which is the reason why one needs to be careful when using any bank’s services. Although many people might not notice it, some banks have hidden charges within their service.  This is the reason why it is always advisable for any banker to make sure that he or she understands all the services their bank offers, and whatever rates or charges that comes with the same. Seven out of ten people using banking services are not quite aware of the extra coins they have to pay as bank charges, nor do they care about it. If you do your own math, you will notice that, the charges or bank rates charged on your account per annum can pay a reasonable amount in your bills.

Here are a few ways that can help you save much on banking interests per year;-

Pay all your bills at a go:- many people have a tendency of paying bills bit by bit, and on different days of the month.  Doing this attracts more interest rates than you could imagine, because with every transaction you make with a bank to pay a bill, there is a charge to that.   However, if you can accumulate all the bills at once and pay them in one go, it will then be cheaper on your side, as the bank will only charge you once. If paying the bills via the bank at one go is not possible, you can then try withdrawing all the cash you need to pay the bills at one go, and then pay in cash. This will be much cheaper than having the bank pay out the bills for you.

Make use of a personal current account:- Most banks offer they personal current account to individuals for free. This means that, there are no monthly fees on the account, and you are only charged when you withdraw cash alone. This is to say that, if ever you have a personal current account, you will have minimal banking rates to pay to your bank, hence the ultimate way to save on the little amount of money you have.  Most peasant earners in the UK use this account because it is the only account free from interest rates and monthly fees.

Use internet banking:- banks charge a certain amount of money for ledgers and other banking statements as you request them. If you have to use these statements in your day to day life, then internet banking could be the best way to access your banking records.  With internet baking in the United Kingdom, you only need to pay a one-time fee of accessing your account, and with this service, you will be able to access all your records, and evaluate them as you like. This will also help you save much on banking rates.

Use an interest earning account:- if you are in a stable working environment, and with steady cash coming into your account, it is then advisable for you to open an account that earns interest with the amount you have in the account.  Every single cent in the account should earn interest with a certain percentage. However, window shopping for such an account is required for you to get the best rates in the market.

Reconstruction and Development of European Banks

European Banks

An Introduction:
European Banks  for reconstruction and development came into being in 1991. This bank uses financial tools and capital investments in order to improve the economies and strengthen the financial positions of more than 30 countries all over the globe. The basic aim of this bank was to support the communist countries. The bank is today owned by around 63 nations across the planet and the General Headquarters of the Bank are situated in London, United Kingdom. Although the bank is a listed bank and its shares are being traded in the stock markets publically, but the bank is more interested in structuring and strengthening private sector firms and institutions.
European Bank for reconstruction and development, or in short, EBRD, invests and advances loans for businesses and industries, banks, construction and development of new firms, and improvement and investment in existing companies as well. ERBD also works for the betterment of government owned service sectors and companies owned by public in order to help them with the process of privatization, with their services and restructuring the whole businesses. This bank has a rule of working with those countries only that have democratic nature of governments and do not support dictatorship nature of government at all.
A list of countries that are currently receiving investments and financial advancements from European Bank for reconstruction and development includes:

  • Romania
  • Azerbaijan
  • Bulgaria
  • Estonia
  • Hungary
  • Lithuania
  • Bosnia
  • Armenia
  • Tajikistan
  • Slovenia
  • Macedonia
  • Croatia
  • Georgia
  • Serbia
  • Uzbekistan
  • Ukraine
  • Tunisia
  • Latvia
  • Kazakhstan
  • Belarus
  • Montenegro
  • Mongolia
  • Poland
  • Russia
  • Albania
  • Herzegovina
  • Turkmenistan
  • Jordan

Now here under is the list of those countries that are just the financing members of ERBD:

  • Spain
  • Netherlands
  • New Zealand
  • Germany
  • Italy
  • Israel
  • Sweden
  • Malta
  • Morocco
  • Luxembourg
  • Turkey
  • United States of America
  • Switzerland
  • Ireland
  • Iceland
  • South Korea
  • Portugal
  • Denmark
  • Czech Republic
  • Norway
  • United Kingdom
  • Egypt
  • Finland
  • Australia
  • Cyprus
  • Canada
  • Belgium
  • Austria

European Investment Bank and European Union are also one of the financing members of this bank.

European Bank for Reconstruction and Development in United Kingdom:
United Kingdom is considered to be the founder member of this bank. It is also one of the representatives of the Board of Directors of this bank, having 8.52% of the total capital share. According to the statistics as per the bank itself, EBRD has made investments of 17.8 billion pounds in United Kingdom to date and it has managed to work on 840 contracts in 2011. Other services of European Bank for Reconstruction and Development in United Kingdom include Co-Financing, Co operation with other British Banks, Donor Funding, Consultancy services and Procurement, and some others.
A very good thing about this bank is that it tailors the whole project according to the needs, and current financial and economical circumstances of that country and makes sure that the right decision is made at the right time with enough flexibility.

Five Best Ways To Save Money

Money saving Tips

Money makes the world go round! Money is very important to live, without money one can’t even get the basic necessities – food, shelter and cloth, to live. Also, in today’s world nothing can happen without the power of money. Education till graduation, Medical aids, good clothes, a vehicle, a mobile phone, LPG, petrol, all of these things are equally necessary today. One can’t live a happy life in the society without the presence of these things. Inflation is at its peak and also has become ever- growing which gives a reason big enough to save money for future requirements. Saving money is very important because you never know when there is urgency or when you get problems with your job or when there is a major medical problem. There are savings accounts available to avoid the humility of borrowing it from others.

There are many reasons to save money. Save it for a good education of your children, for your daughter’s wedding which has to be grand and special, save it for any sort of medical emergency because you can’t risk the life of your loved one just because you were not able to pay for the treatment. Save money for the life after retirement because one would want to have happy breaths at the end, would love to buy toys for grandchildren and would love to enjoy life once again as this free time came after a long time of hard work. One can never predict when the prices of ration, food and vegetables shoot up and the whole budget gets upset. For that it is important to have something in reserve because it is not possible to eat less, these are necessities and one will have to buy them.

One can save money by opening savings accounts available at banks. By regularly putting some money in this account can help you save a lot. Other effective ways include- cooking food at home, making a list before going shopping, paying bills on time and avoiding late fees, borrowing books from library rather than buying, using public vehicle and regulating electricity and petrol usage etc. There are many websites which give you amazing discounts and now days one can buy almost everything by sitting at home. This helps you save more.  There are many ways to save money but one really needs to control his/her desires for a lavish lifestyle. One must try to save wherever possible because then only the pool gets bigger. Inculcating such habits are really very beneficial in increasing our savings accounts available.

Also, different bank schemes are there which help you organize the finances in an effective manner. Always keeping yourself in control about expenses help saving in small amounts. Money saving is also a habit and that too a very good one. It doesn’t mean that you can’t enjoy your life. There is always a way to manage everything and lead a tension free life by having a money back-up with you.