The Effect of The Euro Crisis on UK Imports & Exports

There’s no denying that we are in the deepest recession for 70 years and British businesses have been heavily affected by the crisis across the channel. But what has been the real cost to UK businesses when it comes to the import and export of goods throughout Europe?

The largest impact that the debt crisis in the Eurozone has had is that of reversing the attitudes of the financial markets leading to a weak Euro, negative trading and a significant impact on UK importers and exporters. Obviously for those companies bringing products into the UK from the Eurozone, there are huge benefits as imports costs are at an all-time-low. The net result is that with the Euro at such a low value, these companies can use import letters of credit to expand their set-up and either reduce the price of their products (increasing competitiveness) or simply boost their margin of profit.

But there are two sides to every coin and UK exporters are looking very expensive right about now as the Euro buys you few pounds. In general British products are increasingly costly to European buyers and when you consider that over 50% of UK exports are bought by customers in Europe, you begin to see a worrying picture.

Simply put: 322 million Europeans in seventeen different nations use the Euro to buy their overseas goods, since the collapse in its worth, then haven’t been able to afford as many imports. Even worse, if Greece were to exit the Eurozone then UK exporters would instantly lose 2% of the European market with Greek policy focusing on domestic purchases over cash leaving the country.

Whatever happens in Greece or any of the other bail-out-dependent countries; the Euro debt crisis will continue to impact British importers and exporters, and the he crisis is far from over.

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Lenders Continue to Reject PPI Claims from Customers

In a recent report, the Financial Ombudsman Service (FOS) continue to receive at least 1,500 complaints a day regarding mis sold payment protection insurance or PPI. The increase in daily complaints is a result of many lenders, banks and other financial institutions rejecting consumer claims, which they should be allowing as big banks have already made adjustments to address the betterment of the situation.

The Lloyds Banking Group was one of the most complained about for mis selling PPI. Around 27,745 complaints have been issued against the bank with 93% of such complaints relating to PPI. Barclays had 23,703 complaints, having 19,522 complaints involving mis sold PPI.

PPI is an insurance product designed to cover loans, mortgages and credit cards from missed payments in the event the customer has financial shortcomings. The PPI’s task is to address these repayments should the customer be laid off from work or have a severe sickness or accident. The exclusions on the payment protection insurance policies had persuaded the high court to urge banks to refund all who have been mis sold PPI which they can’t get a claim for.

UK banks, including Barclays and Lloyds, have set aside a £9bn compensation package to repay borrowers who were mis sold. Half of this amount had been given to customers. However, other lenders are still rejecting claims in which they should actually address.

In the event a lender has rejected your claim, you’ll need to get help from claims experts, such as for advice and knowledge that can help address your situation in the best way possible. If you have a complaint, file one with a claims expert to ensure you get the money you deserve back in your pocket.

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Payday Loans Answer Your Immediate Cash Needs

It’s quite obvious that money is getting harder and harder to come by these days. The effort to stretch one’s budget can backfire and put you in a difficult situation. When you need cash to go, it’s best to quick loans with bad credit on the phone or via the Internet. And no, your credit history shouldn’t be a problem as there are also opportunities to get a quick loan bad credit.


On Payday Loan Applications

More and more people need cash to borrow at the most unexpected times. While it’s true that people should save for a rainy day, such precaution might be impossible especially for those who are really having a hard time making both ends meet.

Should you decide to apply for pay day loans on the phone, you open a door to faster and more convenient transactions. Why? For one, these lenders facilitate processing over the phone thus enabling you to assess the duration of the application. And because applications can be as fast as 5 minutes, you won’t be kept hanging as to whether you’re qualified for the loan or not.

When doing such a transaction over the phone, be prepared to give important information such as your income details. Ensure that you have prepared the information prior to calling so everything will run smoothly.  Take note that certain lenders require borrowers to be at least 18 years old. Others also have minimum income requirements. Be ready to fax pertinent documents to the company. Others though skip such requirements to provide a faster transaction.


When You Have Bad Credit History

A less than stellar credit history might hold back an individual trying to get payday loan. This shouldn’t be much of a problem already. As a matter of fact, most payday loan providers specialize in quick loan bad credit. They know that a difficult past shouldn’t hinder one’s financial future. And because transactions are facilitated as quickly as possible, lenders do not bother with credit history anymore. The upside of course is the fact that almost everyone had difficulty with finances in the last five years or so. The economic crunch has affected even big countries like USA and UK. So, bad credit histories have become somewhat common. Hence, companies are very lenient when it comes to quick loan bad credit.


Payday Loan Repayment Terms

Generally, cash to go loans should be settled on the nearest payday. However, there are instances when borrowers can extend the terms of the loan. You just have to arrange it with the lender prior to signing agreements. Note that payday loans can be paid back to as long as 6 months depending on the amount and terms. Again, you need to clarify this with the lender during your application, not when you’ve already received the money.

Don’t hesitate to ask for help with money matters. People live in challenging times and many are aware of it. Cross out cash problems on your list of things to worry about. Apply for pay day loans on the phone or Internet now.

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Egypt – At The Cutting Edge of Banking!

Sometimes we British are guilty of having an over-inflated view of our abilities, especially when talking in global terms. Understandable, and perhaps no bad thing, given once we ruled over half the planet during the heady days of the British Empire. As a consequence, however, we still have tendencies towards exhibiting a certain degree of arrogance when it comes to many aspects of modern-day life, perhaps not appreciating how much the rest of the world has caught up, moved on, and often now beats us handsomely at our own game. Egypt and its financial services sector is a case in point.

There are literally dozens of banks in Egypt, many of them the large multinationals we are all familiar and comfortable with, and who provide the sorts of everyday banking services we’ve all come to expect here in the UK. In other words, Egyptians are as familiar with the terms online banking, current accounts, interest rates and overdrafts as we are. What a surprise!
So you’re looking at the pros and cons of HSBC current accounts, for example, or thinking about a deposit account, perhaps at Barclays, or considering opening an international account with Citibank. No problem. It’s all covered. Get online and check them out. So, so easy.

Which underlines how the landscape has changed both at home and abroad. What would have seemed inconceivable, and a real headache just a few short years ago, is now as routine in Egypt as it is in the UK or anywhere else in the world for that matter.

Take the award-winning Cairo bank, Banque du Caire. It’s one of the best in Egypt and offers just about any service you care to name. It’s got about two million customers, more than 200 branches and banking units, and hundreds of ATMs spread across the country.


Typically, it offers current accounts, savings accounts, personal loans, car loans, credit cards, business loans and just about everything else in between. Might just be the bank you’re looking for. Whatever you decide to do, you’ve two basic choices; either open a bank account before you go to Egypt; or open one before you get there. If you choose the latter, which many ex-pats in fact do, international accounts are a convenient way to manage your finances wherever you are in the world. Such accounts usually offer a good range of banking services and accounts, including money transfer and international payments.
If you decide to wait until you arrive in the country before opening a bank account then you’ll need to take along with you a number of documents. Your passport is going to be the most important one. But you’ll also need a work visa, too, as well as a residence certificate.

And to make the whole process just a little easier, take along a letter from your UK bank and perhaps several of your latest bank statements, too, and a couple of passport-sized photographs. Everything helps.

A last word on bank opening times, which are not the same as in the UK. Typically, the banking week is Sunday through to Thursday in most cities and towns, with opening hours 8.30am to 2pm. Click here for a list of banks in Egypt licensed to carry out internet and mobile banking.

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