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Moneyfacts Weekly Product News – 08.10.2020

Eleanor Williams

Finance Expert & Press Officer
Published: 08/10/2020

The Moneyfacts.co.uk Pick of the Week showcases the best of the latest products or rate changes to hit the consumer finance market.

Brief product details, together with independent Moneyfacts analysis, can be used with confidence in your finance sections. You can select one or two products to sit beside a relevant story or use them all as a general feature provided they are sourced to our expert at Moneyfacts.co.uk.

This week, our resident Finance Expert, Eleanor Williams, has analysed the following deals, along with their perks, of note:

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Six steps to organise your finances during financial planning week 2020

Today marks the start of the Chartered Institute for Securities and Investment’s (CISI’s) Financial Planning Week. The week, organised by the CISI and for the first time ever supported by its trade body rival The Personal Finance Society (PFS), aims to help improve consumers’ confidence and understanding of finances.
This includes helping more consumers to plan their finances and to make sure their life goals are supported with a financial plan to achieve these. A good financial plan can include a review of your pension arrangements, making sure your family is protected if your income reduces, a review of your savings and investments and the cost of your borrowing.


The CISI is offering all consumers a free one-hour personal financial planning session worth up to £500 during Financial Planning Week. The PFS is offering support through its pro-bono programmes, which includes 100 financial advisers offering free guidance to Armed Forces personnel. Consumers can also find financial advisers by using services such as unbiased.com and vouchedfor.co.uk.
The Coronavirus pandemic has affected nearly everybody’s day-to-day finances and the Money Wellness Index from first direct found more than half of adults (54%) now want to become more financially resilient. This is on top of 9 million UK consumers that identify as having low financial capability (study: Financial Conduct Authority) and just over a quarter of respondents to a CISI study stating they were not confident about their financial situation.

Rachel Springall, finance expert at Moneyfacts.co.uk, said:
“The impact of the Coronavirus pandemic on consumers and businesses may well have prompted them to take a step back to reassess their financial health and there is no time like the present to take advantage of free financial planning sessions through CISI during Financial Planning Week. If consumers would prefer to do the groundwork themselves or are wondering how to keep up a regular check on their financial health, then it is worth spending some time to seek out ways to do so.”
Consumers worried about their finances or lacking in confidence can take control by following a series of steps to manage their money and debts today and for the future.

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Take part in the Moneyfacts Consumer Survey 2020 for a chance to win £1,000

Millions of financial services customers across the UK will have the opportunity to declare how they feel about the services and products they have experience with, as the Moneyfacts Consumer Survey opens today and runs until 20 November 2020.

The Moneyfacts Consumer Survey is designed to highlight not just the best financial products, but also to recognise the institutions that deliver a consistently high level of customer service.

Everyone that takes part in the survey will be entered into a prize draw with the chance to win one of three £1,000 prizes. Start the survey now.

Moneyfacts has researched the market by assessing providers and products on their technical merit, which has provided the shortlist that will form the basis for consumer feedback.

Michelle Monck, Head of Digital at Moneyfacts.co.uk, said:

“2020 has tested the resilience of operational and customer services teams in banks, building societies, credit card companies, lenders and insurers. The financial services sector has shown itself to be adaptable; coping with reduced levels of staffing and new processes and systems due to remote working, while handling unprecedented levels of enquiries and requests for help from consumers.

The Moneyfacts Consumer Awards Survey gives customers an opportunity to share their experiences and opinions about which financial providers have performed well during the year with the winners being announced in January 2021.”

The winners will be announced on 27 January 2021 via a digital “social media” event on Twitter, Facebook and LinkedIn. To see the full list of nominees, please click here.

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Moneyfacts Weekly Product News – 28.05.2020

The Moneyfacts Weekly Product News is a round-up of the latest products or rate changes to hit the consumer finance market this week. The deals are available right now, but may be subject to change. Find the best product for you.

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Moneyfacts Weekly Product News – 21.05.2020

The Moneyfacts Weekly Product News is a round-up of the latest products or rate changes to hit the consumer finance market this week. The deals are available right now, but may be subject to change. Find the best product for you.

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Moneyfacts Weekly Product News – 14.05.2020

14th May 2020

The Moneyfacts Weekly Product News is a round-up of the latest products or rate changes to hit the consumer finance market this week. The deals are available right now, but may be subject to change. Find the best product for you.

The Moneyfacts Weekly Product News is a round-up of the latest products or rate changes to hit the consumer finance market this week. The deals are available right now, but may be subject to change. Find the best product for you.

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Moneyfacts Weekly Product News – 30.04.2020

30th April 2020

The Moneyfacts Weekly Product News is a round-up of the latest products or rate changes to hit the consumer finance market for the week ending 30.04.20. The deals are available right now, but may be subject to change. Find the best product for you.

The Moneyfacts Weekly Product News is a round-up of the latest products or rate changes to hit the consumer finance market for the week ending 30.04.20. The deals are available right now, but may be subject to change. Find the best product for you.

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Moneyfacts Weekly Product News – 23.04.2020

23rd April 2020

The Moneyfacts Weekly Product News is a round-up of the latest products or rate changes to hit the consumer finance market this week. The deals are available right now, but may be subject to change. Find the best product for you.

The Moneyfacts Weekly Product News is a round-up of the latest products or rate changes to hit the consumer finance market this week. The deals are available right now, but may be subject to change. Find the best product for you.

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Post Office to deliver cash to the doors of vulnerable customers

22nd April 2020

Post Office Money will deliver cash to the doors of vulnerable customers who are unable to leave their homes due to the Coronavirus pandemic

Post Office Money will deliver cash to the doors of vulnerable customers who are unable to leave their homes due to the Coronavirus pandemic

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Most Popular Other Money News

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Take part in the Moneyfacts Consumer Survey 2020 for a chance to win £1,000

5th October 2020

Millions of financial services customers across the UK will have the opportunity to declare how they feel about the services and products they have experience with, as the Moneyfacts Consumer Survey opens today and runs until 20 November 2020. Read more to find out how to vote.

Millions of financial services customers across the UK will have the opportunity to declare how they feel about the services and products they have experience w

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How the Covid-19 outbreak could impact your finances?

17th March 2020

While the main concern during the Covid-19 outbreak is saving as many lives as possible, many consumers are also concerned about the possible impact the virus could have on their personal finances

While the main concern during the Covid-19 outbreak is saving as many lives as possible, many consumers are also concerned about the possible impact the virus could have on their personal finances

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Tax-free allowances, limits and tax relief for 2020/21

3rd April 2020

We explain the key changes in tax allowances and limits. Read now to get our free guide to Taxfacts 2020/21.

We explain the key changes in tax allowances and limits. Read now to get our free guide to Taxfacts 2020/21.

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Contactless limit is set to rise to £45 to help fight Covid-19

24th March 2020

From 1 April 2020, consumers will be able to use contactless payments on amounts of up to £45, as concerns about hygiene when shopping continues

From 1 April 2020, consumers will be able to use contactless payments on amounts of up to £45

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