Latest news with #Current


Scottish Sun
2 days ago
- Business
- Scottish Sun
Santander customers FUME over ‘disgusting' £120 fee for key bank account after being promised it would be ‘free forever'
The bank first tried to introduce fees for these accounts in 2012 CHARGED UP Santander customers FUME over 'disgusting' £120 fee for key bank account after being promised it would be 'free forever' Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) SANTANDER customers are outraged after the bank revealed it will start charging £120 a year for an account it promised would be "free forever". Thousands of small business and self-employed account holders are facing £9.99 monthly charges from October. Sign up for Scottish Sun newsletter Sign up 1 Several other banks, such as Virgin Money, Monzo, and Co-operative Bank, continue to offer free business banking Credit: Getty This comes despite written assurances that their accounts would always remain free of fees. Santander's move has left customers feeling betrayed. Customers have taken to social media to vent their anger. One user said on "Promised me free business banking forever in writing, and now they want to charge £9.99 a month. Is this even legal?" Another branded the move "absolutely disgusting". The changes will impact three types of business accounts: 1|2|3 Business Current Accounts, Business Everyday Current Accounts, and Business Current Accounts. Santander said that the "free forever" promise only applied to accounts offered by Abbey and Alliance & Leicester before their 2008 merger. The bank first attempted to introduce fees for these accounts in 2012 but backed down after customers threatened legal action. However, these accounts were shifted to the Business Everyday account in 2015, which did not include the "free forever" promise. From October 1, these accounts will be closed, and customers will be automatically switched to Santander's new Business Current Account – Classic. Switch bank accounts for free perks This migration comes with new fees and charges that could significantly impact businesses, especially those handling large cash deposits or relying on cheque transactions. Under the new structure, every Business Current Account – Classic will incur a £9.99 monthly fee, regardless of the type of account customers previously held. While some accounts were free, others offered additional benefits with charges as high as £40 per month. Several other companies, such as Virgin Money, Monzo, and Co-operative Bank, offer free business banking. A spokesperson for Santander said: "The business banking landscape has changed significantly over the last decade. "As such, we are simplifying our business banking offering as the first step to ensure that we can sustainably and efficiently evolve to better meet the needs of our business customers in the future." Santander Business Current Account – Classic charges SANTANDER has also revised other charges that could hit businesses hard. For example: Cash deposits : Free up to £1,000 per month via Santander cash machines, but £1.25 per £100 for anything over that. Deposits made at Santander branches or Post Office counters will also cost £1.25 per £100. : Free up to £1,000 per month via Santander cash machines, but £1.25 per £100 for anything over that. Deposits made at Santander branches or Post Office counters will also cost £1.25 per £100. Cash withdrawals : Free at Santander cash machines, but £1.25 per £100 withdrawn at branch counters or Post Office counters. : Free at Santander cash machines, but £1.25 per £100 withdrawn at branch counters or Post Office counters. Cheque deposits: £0.70 per cheque. Overdraft fees are also set to change, adding further financial strain for some customers. What else is happening at Santander? The bank is closing its 123 Lite current account, which offers up to 3% cashback on household bills for a £2 monthly fee, on August 21. Customers affected by the closure will be automatically switched to Santander's Everyday Current Account. This account has no monthly fee but does not include cashback benefits. The 123 Lite account has not been available to new customers since 2022, however, hundreds of thousands still rely on the current account. The 123 Lite account allowed bill payers to earn up to 3% cashback, capped at £15 per month, on expenses like council tax, mobile phone bills, energy, and water. However, if you still have a 123 Lite account, cashback will stop automatically, and you will no longer need to pay the £2 monthly fee from August 21. If you're looking to keep cashback perks, the Everyday Current Account you'll be switched to won't be suitable, as it doesn't offer any cashback features. Instead, customers who want to stay with Santander may want to explore the Edge or Edge Up accounts. The Santander Edge account offers 1% cashback on certain household bills and debit card spending at supermarkets, petrol stations, and on travel. This account has a £3 monthly fee, with cashback capped at £10 per month. For a higher cashback limit, the Santander Edge Up account costs £5 per month and allows you to earn up to £15 per month on both bills and debit card spending. To keep these accounts active, Edge customers must deposit at least £500 per month, while Edge Up customers need to deposit £1,000. However, from September 9, cashback on supermarket, fuel, and travel spending will be removed for both accounts. Customers will only continue to earn 1% cashback on household bills like council tax and utilities. If you're looking to maximise your cashback, there are other options available. For example, American Express' Cashback Everyday Credit Card offers an impressive 5% cashback on purchases for the first five months (up to £125). What is cashback? CASHBACK is a type of reward offered by banks, credit card providers, and retailers where customers receive a percentage of their spending back as cash. Essentially, it's a way to earn money while making purchases. For example, if your card offers 1% cashback and you spend £100, you'll earn £1 back. Cashback can be credited to your account, deducted from your balance, or saved up for future use, depending on the provider's terms. It's often offered on everyday purchases, such as groceries, fuel, or online shopping, and may be part of a promotional deal or an ongoing benefit of your account. However, remember to check the terms and conditions, as some transactions may not qualify for cashback rewards. By using cashback offers wisely, you can usually make your money go further on purchases you'd already be making.
Yahoo
6 days ago
- Business
- Yahoo
Baytex Announces Granting of Exemptive Relief Regarding Its Normal Course Issuer Bid Program
Calgary, Alberta--(Newsfile Corp. - July 14, 2025) - Baytex Energy Corp. (TSX: BTE) (NYSE: BTE) ("Baytex") today announced it obtained an exemption order from the Canadian securities regulators which permits Baytex to purchase up to 10 percent of the "public float" (within the meaning of the rules of the Toronto Stock Exchange (the "TSX")) of its common shares through the New York Stock Exchange and other U.S.-based trading systems as part of Baytex's shareholder return strategy, including the current normal course issuer bid announced on June 24, 2025 (the "Current Bid"). Absent this exemptive relief, Baytex's purchases under a normal course issuer bid on markets other than the TSX would be limited to not more than 5 percent of its outstanding common shares over any twelve-month period. The exemptive relief is applicable to the Current Bid and any other normal course issuer bid commenced by Baytex and which expire on or before July 11, 2028 and is conditional upon, among other things, purchases being made in compliance with applicable U.S. rules and National Instrument 23-101 - Trading Rules and at a price not higher than the market price at the time of purchase. The aggregate number of common shares purchased by Baytex over any exchange or market over the relevant 12-month period of a particular normal course issuer bid may not exceed 10 percent of the public float, as specified in Baytex's notice accepted by the TSX in respect of the relevant normal course issuer bid, including the Current Bid. Baytex Energy Corp Baytex Energy Corp. is an energy company based in Calgary, Alberta and offices in Houston, Texas. The company is engaged in the acquisition, development and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States. Baytex's common shares trade on the Toronto Stock Exchange and the New York Stock Exchange under the symbol BTE. For further information about Baytex, please visit our website at or contact: Brian Ector, Senior Vice President, Capital Markets and Investor Relations Toll Free Number: 1-800-524-5521Email: investor@ To view the source version of this press release, please visit Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
09-07-2025
- Business
- Yahoo
To the rescue: Why you need an emergency fund now
With the stock market at record highs and the unemployment rate at a modest 4.2%, an emergency savings fund might not seem like the most pressing need at the moment. But in fact, this is exactly when you should be thinking about starting one, consumer fintech banking platform Current suggests. The harsh reality is that many Americans do not have the cash to deal with the unexpected. A shocking 54% of Americans don't have enough cash to cover three months' worth of expenses, according to a survey by financial information site Bankrate. Even worse, 24% of people don't have any emergency savings at all. That may not seem like a big deal in boom times. But Future You could very likely be dealing with a different economic landscape. And if you ever run into financial trouble, the stakes will be raised very high, very quickly. 'Maintaining an emergency fund can provide valuable peace of mind: You can go about your business knowing that unanticipated outlays won't derail your financial plan,' says Christine Benz, a personal finance expert at financial research firm Morningstar and author of the new book 'How To Retire'. 'Holding liquid reserves to cover unplanned expenses keeps people from having to tap their long-term investments or rely on unattractive forms of financing, like credit cards, if they need short-term cash.' As an example, let's do our best to peer a few months down the road. The U.S. economy has already contracted at a .5% annual rate in 2025's first quarter, in part thanks to a highly uncertain tariff situation. Meanwhile, employee confidence – those who foresee a positive six-month business outlook – just hit a record low, according to career site Glassdoor. And CEO confidence just had the largest decline in its history, according to the Conference Board. That indicates that economic storm clouds are brewing. So if trouble hits, and you had to deal with a layoff: Would you have enough money to get through lean times, without having to take drastic action like raiding your retirement funds or putting your living expenses on high-interest credit? If the answer is no, then you need to take action. Of course, emergency funds don't materialize instantly: Doing it right requires thoughtful planning about how to get started, how much to accumulate, and where exactly to keep it. A few pointers: Start right away. Presuming you don't have thousands of dollars lying around, this project is going to require the gradual accumulation of small sums. So as the saying goes: The best time to start was yesterday, and the next best time is today. That is best achieved by setting up regular deductions, which is easily arranged with your bank. 'One of the best ways to create an emergency fund is to automate your savings,' says Marguerita Cheng, a financial planner and CEO of Blue Ocean Global Wealth in Gaithersburg, Maryland. 'You can select an amount, as little as $50 every pay period, or on a pre-determined date every month.' Do that before you have a chance to access that money for day-to-day expenses (often known as 'paying yourself first'). Start small, and then hopefully boost that amount over time. Even just $20 a week, over the course of a year, amounts to over $1,000 – a fund that could prove to be critical in times of crisis. Aim high. To truly give yourself a cushion, aim for between 3-6 months' worth of expenses. That way, if you are laid off suddenly, you can rest assured of keeping food on the table and a roof over your head even if you don't find a new job for a while. If you are financially able, aim even higher than that. 'High earners, older workers, or sole/main earners in households with dependents should shoot for closer to a year's worth of expenses,' suggests Morningstar's Benz. Giving yourself that financial breathing room has extraordinary effects: Those who are able to set aside at least $2,000 report a 21% increase in financial well-being, according to a survey by money manager Vanguard. And those who achieve 3-6 months' worth of expenses? Even more than that, with another 13% boost. Make it work for you. Whatever you manage to set aside, there is no reason for it to be earning close to zero, as you might find at many big banks. Instead, you can create a positive snowball effect: Cheng suggests looking into high-yielding accounts, many of which these days offer 4% or more on your money. Also keep in mind that the federal SECURE 2.0 Act also allows for penalty-free withdrawals from retirement funds in cases of emergency (with a limit of $1,000 per year). Wherever you decide to house your emergency savings fund, there is no denying how critical it is – to establishing a first line of defense, keeping your financial plans on track, and helping you sleep at night no matter what economic storms may come. This story was produced by Current and reviewed and distributed by Stacker.

Miami Herald
09-07-2025
- Business
- Miami Herald
To the rescue: Why you need an emergency fund now
To the rescue: Why you need an emergency fund now With the stock market at record highs and the unemployment rate at a modest 4.2%, an emergency savings fund might not seem like the most pressing need at the moment. But in fact, this is exactly when you should be thinking about starting one, consumer fintech banking platform Current suggests. The harsh reality is that many Americans do not have the cash to deal with the unexpected. A shocking 54% of Americans don't have enough cash to cover three months' worth of expenses, according to a survey by financial information site Bankrate. Even worse, 24% of people don't have any emergency savings at all. That may not seem like a big deal in boom times. But Future You could very likely be dealing with a different economic landscape. And if you ever run into financial trouble, the stakes will be raised very high, very quickly. "Maintaining an emergency fund can provide valuable peace of mind: You can go about your business knowing that unanticipated outlays won't derail your financial plan," says Christine Benz, a personal finance expert at financial research firm Morningstar and author of the new book "How To Retire". "Holding liquid reserves to cover unplanned expenses keeps people from having to tap their long-term investments or rely on unattractive forms of financing, like credit cards, if they need short-term cash." As an example, let's do our best to peer a few months down the road. The U.S. economy has already contracted at a .5% annual rate in 2025's first quarter, in part thanks to a highly uncertain tariff situation. Meanwhile, employee confidence – those who foresee a positive six-month business outlook – just hit a record low, according to career site Glassdoor. And CEO confidence just had the largest decline in its history, according to the Conference Board. That indicates that economic storm clouds are brewing. So if trouble hits, and you had to deal with a layoff: Would you have enough money to get through lean times, without having to take drastic action like raiding your retirement funds or putting your living expenses on high-interest credit? If the answer is no, then you need to take action. Of course, emergency funds don't materialize instantly: Doing it right requires thoughtful planning about how to get started, how much to accumulate, and where exactly to keep it. A few pointers: Start right away. Presuming you don't have thousands of dollars lying around, this project is going to require the gradual accumulation of small sums. So as the saying goes: The best time to start was yesterday, and the next best time is today. That is best achieved by setting up regular deductions, which is easily arranged with your bank. "One of the best ways to create an emergency fund is to automate your savings," says Marguerita Cheng, a financial planner and CEO of Blue Ocean Global Wealth in Gaithersburg, Maryland. "You can select an amount, as little as $50 every pay period, or on a pre-determined date every month." Do that before you have a chance to access that money for day-to-day expenses (often known as 'paying yourself first'). Start small, and then hopefully boost that amount over time. Even just $20 a week, over the course of a year, amounts to over $1,000 – a fund that could prove to be critical in times of crisis. Aim high. To truly give yourself a cushion, aim for between 3-6 months' worth of expenses. That way, if you are laid off suddenly, you can rest assured of keeping food on the table and a roof over your head even if you don't find a new job for a while. If you are financially able, aim even higher than that. "High earners, older workers, or sole/main earners in households with dependents should shoot for closer to a year's worth of expenses," suggests Morningstar's Benz. Giving yourself that financial breathing room has extraordinary effects: Those who are able to set aside at least $2,000 report a 21% increase in financial well-being, according to a survey by money manager Vanguard. And those who achieve 3-6 months' worth of expenses? Even more than that, with another 13% boost. Make it work for you. Whatever you manage to set aside, there is no reason for it to be earning close to zero, as you might find at many big banks. Instead, you can create a positive snowball effect: Cheng suggests looking into high-yielding accounts, many of which these days offer 4% or more on your money. Also keep in mind that the federal SECURE 2.0 Act also allows for penalty-free withdrawals from retirement funds in cases of emergency (with a limit of $1,000 per year). Wherever you decide to house your emergency savings fund, there is no denying how critical it is – to establishing a first line of defense, keeping your financial plans on track, and helping you sleep at night no matter what economic storms may come. This story was produced by Current and reviewed and distributed by Stacker. © Stacker Media, LLC.


The Star
05-07-2025
- Entertainment
- The Star
When is a pencil not just a pencil? When it's 6m-tall and is sharpened annually
When is a pencil not just a pencil? When it's on John and Amy Higgins' lawn across from Lake of the Isles, is 20ft (6m) tall and gets an annual public sharpening that draws crowds of more than 1,000 people. The giant pencil, known as Loti Pencil, got its fourth annual sharpening on June 7. The event kicked off another Minneapolis summer in the United States, filled with outdoor art festivals and not a single day below 65°F (18°C). This year's pencil sharpening fell on Prince's birthday. 'Because of leap year, by coincidence, it's going to be another 12 years before Prince's birthday is on a Saturday,' John said before the event. 'We've got special commemorative purple Prince pencils. We typically hand out yellow pencils.' To sharpen the giant public artwork, Loti Pencil creator and wood sculptor Curtis Ingvoldstad made a 4ft-tall (1.2m) wooden pencil sharpener that he hoists onto the tip with help from his friend John Daugherty, and the pencil gets pointy again. Then, they throw the shavings to the crowd below. This is a community ritual that's also predicated on losing a bit of the pencil every year. 'The sacrifice of its monumentality is something that marks a year. ... And so this is the sacrifice – the pencil has to be sharpened otherwise it wouldn't have been used,' Ingvoldstad said. DJ Jake Rudh, a regular on the Current radio station and the founder of First Ave's dance party Transmission, spun tunes at the sharpening. He also threw in some Prince tracks. This year, there's also an alphorn duo. And no, that's not a reference to Minnesota's Afton Alps. We are talking the Swiss Alps. The musical duo of Edina-based Mary and Ralph Brindle played 12- to 15ft-long (3.6m-4.6m) horns, usually used to call sheep, but also to create music in the Swiss Alps. The duo has been playing alphorns together for 35 years and performed as part of the opening ceremony. Kids also joined in on the fun. They got close and asked the pencil questions using a special telephone to translate it all to the pencil. Loti Pencil is getting so famous that soon there will be a short documentary about it. Los Angeles-based documentary filmmaker Daniel Straub started doing interviews with John and Amy and Ingvoldstad three months ago and came to town early June to shoot the documentary. Straub first saw the pencil on someone's Instagram account, just before its ritual sharpening. 'There's something about turning an object to the scale of its source material, like making a pencil the size of a tree, that seemed really funny to me,' Straub said by phone from LA. He grew more interested in the pencil's philosophical message after learning more from Ingvoldstad and John. 'There was a quote from John where he described sharpening the pencil as 'a promise to do something', and this yearly ceremony became this renewal of a promise,' Straub said. 'This isn't just a yearly gathering, it's also a celebration and renewal, but also an acknowledgment of the passage of time.' Someone wanting to make a documentary film about the pencil caught John and his wife by surprise and it really moved them, he said. The couple has been in their home for more than 17 years, and they'd love to keep up this tradition, but it might be ephemeral in nature, as was the felled tree that created it. The pencil is different from the Minneapolis Sculpture Garden's 'Spoonbridge and Cherry', which regularly gets its spoon and cherry repainted, is made of aluminium and steel, and could last forever. The pencil first appeared in June 2022, some five years after the upper canopy of a 180-year-old oak tree fell onto the Higgins' front lawn during a storm. Rather than just get rid of the wood, the couple decided to preserve it in their own way – by making it into a public work of art in the shape of a No. 2 pencil. They hired Ingvoldstad to craft it, and the rest is history. For a stationary pencil on a lawn, it's pretty busy. Last Halloween, the pencil wore a costume for the first time, dressing up as Superman and jamming out to R.E.M.'s song Superman on the weekends. As John told the Star Tribune at the time, 'the pencil has a personality, and likes to do stuff regular people do – enjoy sunsets, pose for pictures with people.' And although the pencil is becoming quite well known, for creator Ingvoldstad that's less important than what it means to the community. 'It's super heartwarming and overwhelming when people come up and thank me from their hearts for this because, it's very unexpected in some ways,' he said. 'But it doesn't change why I do art and it doesn't change me, and it doesn't change anything in my pursuit. It just makes me feel good that other people get to walk away with the inspiration.' – By ALICIA ELER/The Minnesota Star Tribune/Tribune News Service