Just a quick heads up to readers in the UK about Bank Holidays. I was listening to Moneybox over the weekend
This programme is presented by the wild and wacky Paul Lewis
PL is incredibly knowledgeable about money and all things fiscal, as well as Roman Numerals, Victorian coinage and Wilkie Collins. You have to read his website to find out more. He also wears crazily patterned suits and ties. Fine on radio but disastrous on TV.
HOWEVER the important information is this…
Because of Easter and the Royal Wedding, and all accompanying Bank Holidays, here in the UK, there are ONLY THREE banking days between Thursday 21st April and Tuesday 2nd May.
Paul pointed out that if your credit card bill is due for payment during that period, you would be wise to pay it as soon as you can, as all these BHs mean there may be a delay in the money getting through and you could incur interest.
I know many of you avoid Credit Cards – but if you are one of the ‘use it for the convenience, but pay in full each month’ sort of people, then I should hate you to get caught out!
What annoys me is the fact that my credit card is with my bank – and yet it takes them a couple of days to get the money from one account to the other. Where is it in the meantime? Is someone else earning interest on it?
Oh, and another little banking rant.
I think it is a crazy idea to get rid of cheques!