Paul Lewis writes…

Dear Listener

Oh dear. The banks are at it again. Lloyds TSB is warning customers that if they go overdrawn by just a penny without permission it will slap on a £30 fine – even though the Office of Fair trading has warned recently that hefty penalties may be illegal.

It’s probably no coincidence that a number of firms are springing up to help people challenge high bank charges. But the Financial Ombudsman says there is no point in paying them when you can do it yourself free.

Norwich Union is letting drivers pay for their car insurance mile by mile. The annual cost may be lower – but someone somewhere knows where your car is every minute of the day.

Shares are going UP. Oil is coming DOWN (who said ‘but not petrol’?). The pound is going UP (America here I come!). Gold is going DOWN. Are markets in turmoil? And is it good or bad for our savings?

Finally there are calls this week to help retired people raise money from the value of your home. But will the Government listen?

Money Box Saturday at noon, Sunday at 9pm and on the web any time – and there’s more on the website about these items now.

Best wishes

Paul Lewis

PS Don't forget if you missed last week’s programme you can still hear all the items or read the transcript on our website. Where you can also have your say on money issues and do loads of other interesting things at http://www.bbc.co.uk/moneybox

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