However, accepting a cash offer for your home simplifies the process as there are fewer parties and less paperwork, and the timeline is significantly shorter. Below are ways you can prepare your house for a cash sale.

Evaluate The Condition Of Your Home

If your home is in a pristine condition, you can study similar properties that have closed in your neighbourhood but ensure the size and trim finish matches your property. Once you arrive at the correct figure, subtract the average costs of selling the home, and then add a discount figure that matches the benefits to get a rough estimate. However, this will depend on your situation.

For instance, a person facing foreclosure or vacant property is likely to value the speed and benefits of the cash more than someone who wants to get a bigger home. If the estimated repair cost exceeds what you are willing to bear, you can sell the house as is. However, the upgrades can be worthwhile if the house only needs minor repairs that will help you get a better deal.

Check Your Home's Value

Cash buyers offer unmatched convenience to home sellers, including short closing time, higher certainty, and the option to sell a property 'as is' to save money on repairs. Typically, the amount you can get for your home depends on several aspects, including the condition of your home and market competition. It's vital to get a rough idea of the current value of your home on the market so you can determine if you are getting a fair deal.

Homeowners can get a free home valuation from online tools that use algorithms to price properties. The tools gather data from multiple sources to deliver instant property value estimates. While online property valuation may not have the same accuracy as a real estate agent CMA, it's fast and free.

Get Your Documents Ready

A property sale is a legal contract that involves various documents, and it's best to have everything ready. Title issues can delay closing since a title search is mandatory when closing the sale, whether a buyer is paying cash or through financing. Details like pending taxes, active mortgage, liens for previous renovation work, and outstanding child support can show up on your title, and hold off the sale process until everything is cleared.

However, you can be proactive and order a preliminary title so you can handle any issues. In addition, you should get your disclosure documents ready depending on the disclosure regulations in your area. If unsure, an attorney can provide the proper disclosure documentation for your locale.

Endnote

A property sale transaction can be stressful for sellers and buyers alike. Cash offers can ease the stress since the process is shorter and involves less paperwork. If you are selling your house, consider the potential benefits and convenience of a cash offer. It's best to prepare early to avoid surprises. 

Your car is probably one of the most valuable possessions you own and one of the most expensive. And sometimes, you just need a little extra cash. Taking out a logbook loan on your car is a great way to free up your finances. 

What Is A Logbook Loan? 

A logbook loan is a new way of releasing finance on your car. Just like a mortgage, a logbook loan means that your vehicle is used as a form of collateral for your chosen loan amount. If you’re strapped for cash and you need to free up your finances, you can use a logbook loan to release money from your car without having to surrender your keys. 

How Do Logbook Loans Work? 

If you have been struggling to find and take out a loan in other ways, a logbook loan could be the answer you have been looking for. According to LoanOnYourCar.com, “The trade value of your car will determine the maximum value of the loan, therefore the more your car is worth, the more you can borrow against it.”

Once you have your loan, you can repay it back in monthly instalments that are manageable for you. Repayments can be made anywhere from 1 month to 3 years. What’s more, you can keep driving the kids to school, taking your car to work, and picking up the groceries. Basically, you can use your car in the same way you always did while enjoying the freedom of more finance. 

The 3 Benefits Of A Logbook Loan 

So, now that you know what a logbook loan is and how it works, what are the benefits? Not all loans are created equal and the type of loan you take out will depend on your individual circumstances and what you deem the best decision for your family. To help inform your decision, we have listed the benefits of logbook loans below. 

1. Bad Credit History Doesn’t Matter

For many people looking to take out a loan, there is the worry about bad credit history. So many people are rejected for loans due to the state of their credit history. However, when it comes to logbook loans, bad credit history doesn’t matter. All you need to take out a logbook loan is proof that you are the legal owner of the vehicle. Having a bad credit history doesn’t stop you from taking out a loan in this case, making it a great way to raise funds when you need them. Of course, it is important to be realistic about whether or not you can keep up with the loan repayments. However, if you feel confident this is something you can manage, logbook loans could be the answer to your financial difficulties. 

2. Raise Funds Fast 

Depending on the value of your car, with a logbook loan, you could borrow up to £50,000 in cash. Just imagine what a difference that could make to your financial situation. Whether you need a new washing machine or you need funds to finish your extension or pay your kids way through university, a logbook loan lets you take out money on the value of your car and make monthly repayments that are manageable for you. 

3. You Can Choose A Reputable Company

Loan companies tend to have a bad reputation. And sometimes, when you’re desperate for cash, it can be tempting to go for whichever company will accept you (despite their reputation or the extortionate interest rates they charge). Sadly, hasty and panicked decisions like these can often result in worsening financial situations. With logbook loan companies, your credit score doesn’t matter so you have the pick of the crop. As the choice is yours, you should always choose a company that is reputable and sets out its terms and conditions clearly. After all, you don’t want to get caught out making extortionate monthly repayments just because you didn’t read the small print. Reputable logbook loan companies share all of their information on their website and are upfront about the credit arrangement, repayments, interest rates, and more. 

Is A Logbook Loan Right For Me? 

You may be asking yourself whether a logbook loan is right for you. And that’s a good question to ask yourself. Freeing up your finances is a wonderful thing to do, but not at the expense of your financial security. That’s why, before entering into a loan of any kind, it is important to do your research and seek advice from an expert. 

If you are still unsure whether a logbook loan is right for you, we have listed a couple of questions you can ask yourself to help shed some light on the decision. 

• Can you pay off the loan quickly? The faster you can pay off the loan, the lower the interest rate will be. 
• Are there extra charges for making early repayments?
• Will you manage your monthly repayments and keep a statement of account?
• Are you able to get your vehicle independently valued to ensure you are getting the right loan amount? 
• Can you risk losing your car?

If You Can’t Make The Repayments

In the UK, around 12 million people struggle with loan repayments. If repayments can’t be made collateral must be claimed and in the case of a logbook loan, that collateral is your car. Missing a repayment is a risk that anyone takes on when they take out a loan, whether it be a loan on their property or their car. 

That’s why it is so important to consider whether a logbook loan is the right option for you and carefully work out your finances and whether you can afford the monthly repayments over a set period of time. Taking the time to work these things out will ensure you make the most of your loan and don’t get yourself in further financial trouble. 

Top tip: be reassured that most companies will only do this if you have fallen behind on several repayments over a set period of time. A default notice must be provided to you by law, allowing you a 14 day notice period during which you can make up any missed payments. 

Final Words 

I hope you have found this article useful. If you are looking to free up your finances, releasing cash from your car in the form of a logbook loan is one of the best ways to do so.

Have you ever blown a tyre and needed to replace it fast? What about a time when one of your family members suffered an injury due to their job? How about the many times you uncovered an ideal business opportunity, only to be frustrated that you didn’t have access to capital at that exact moment? As an entrepreneur and investor, you know that investing takes money to make money. But it also takes seizing opportunities as they arise. To ensure you don’t miss the next unbelievable deal that comes your way, this article is a quick guide to help you understand same-day loans.

What is a same-day loan?

A same-day loan is simply a loan distributed on the day that it is approved. Same-day loans are sometimes called emergency loans or payday loans, but the essence of each is similar. These are short-term loans that typically carry a higher interest rate than a bank loan or other form of lending. Normally, same-day loans are for small amounts up to USD$2,000 (or whatever your state allows) and are required to be paid back, including fees, within four months or less. In some cases, borrowers might have to provide electronic access to their bank accounts to the lenders. 

 Like every commodity, you pay for convenience and speed. Applying for same-day loans is relatively effortless and can be done online from any device with an internet connection. The process is safe, reliable, legal, and you can receive your outcome and money transfer almost instantly. In addition, companies can accept applications at accessibly located kiosks or online at any time, with a dedicated customer service team during regular office hours.

What do you need to get a same-day loan?

Unlike applying for larger loans at banks, applying for a same-day loan is relatively simple. However, you will need to have specific documentation at hand. At a minimum, many financial institutions require the following information:

• Bank account details
• Credit card information
• Other personal details

 However, the US Consumer Financial Protection Bureau (CFPB) has set specific regulations when getting these loans. Some lenders will require you to be at least 18 years old, must have a checking account holder, proof of income, and some valid identification. Check with your state or territory for other conditions they need lending institutions to ask their borrowers. In addition, most lenders will do a credit history check. However, same-day lenders are typically more flexible than banks or other lending institutions. They mainly favour your current ability to make the repayments rather than your complete credit history. In most cases, if you are gainfully employed, these lending institutions can approve your application.

What should you consider when getting a same-day loan?

If you consider applying for a same-day loan, it is best to look at the bigger picture. Ask yourself the following questions:

• Do I need the money right now?
• Will I be able to pay off the loan when it’s first due?
• Will I be paying more in the long run if I don’t access a same-day loan now?
• Can I borrow the money from friends or family instead?
• Is an advance on wages a possibility?
• Will my credit card offer a lower interest rate for a cash advance?

Same-day loans typically offer interest rates of approximately 20% plus associated fees. As a borrower, you very well might be able to justify this expense to take advantage of a sudden business opportunity. Sometimes an offer is too good to pass by, so having access to instant capital can make you money in the long run. Furthermore, same-day loans do come with a few risks. For one, lenders can tack on fees to your total amount when you can’t pay for the initial loan amount. Depending on the lender, they can add, at the most, USD$30 for every USD$100 borrowed by the borrower. As such, many individuals have bankrupted themselves when unable to pay off the amount they borrowed on the agreed date. This makes same-day loans one of, if not, the most costly ways to get quick cash. 

Summing up

A same-day loan is a convenient way to get cash fast, especially in emergencies. Some lending institutions might only request some forms of ID and require employment details, and it’s by far quicker to apply for a same-day loan than a regular loan. Nevertheless, make sure you prepare yourself to pay for the full amount, so you won’t have to pay for additional fees and put yourself in a hole. In any case, make sure you get same-day loans from accredited and trusted lending institutions.

An independent survey of more than 900 UK-based investors commissioned by broker HYCM has investigated which assets the traders plan to buy or sell in the coming year.

Among its findings, the survey revealed the most popular avenues for UK investors to place their money. 70% of respondents had put their money into cash savings, while 40% invested in stocks and shares and a further 38% invested in property.

The survey also asked investors about their investment plans for the new year. 38% of all respondents said they would be putting more money into their savings accounts, while 27% planned to purchase more stock and 21% planned to invest in property.

Conversely, the survey found that the least popular asset classes among UK investors were cryptocurrencies, forex and classic cars, which were respectively favoured by only 21%, 20% and 19% of respondents. However, 18% planned to invest in cryptocurrency during 2021.

Also noteworthy was investors’ overall optimism in their strategies. Although 39% of respondents said that their finance and investment outlooks were radically changed by the COVID-19 pandemic, a full 72% were confident in the way they were managing their portfolios in the current climate, and 53% were confident of being in a stronger position once the pandemic ended.

Giles Coghlan, HYCM’s Chief Currency Analyst, remarked that the findings of the new survey were notably similar to those seen at the beginning of the pandemic.

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“While fiscal and monetary stimulus have been positively received by the market, investors are still treading carefully,” he said. “This is why cash remains king, despite interest rates being at record lows.”

New research has suggested that the Coronavirus pandemic will dramatically hasten the decline in cash usage in the UK. Enforced lockdown has led to a dramatic 60% fall in the number of withdrawals from cash machines, while card payments and online shopping, particularly for essential purchases such as groceries, have skyrocketed. With now significantly less demand for cash withdrawals and subsequently, more and more machines disappearing from our high street the way phone boxes once did, it’s highly likely that this changed societal behaviour will last long after the virus has left our shores.

Problems with cash have been well documented, and have only been intensified by reports early in the Coronavirus outbreak about the spread of the virus on banknotes and coins. Whilst the World Health Organisation and the Bank of England have stressed that the risk of transmission from cash is no greater than any other item, these concerns have acted as a catalyst for many to adopt an all-digital wallet. In addition, cash is actually quite inconvenient and increasingly unnecessary. Cash can be stolen or lost. Consumers are unable to redeem reward points for spend and cannot automatically track spending habits to help with budgeting. In today’s society, cash simply struggles to compete with the multi-dimensional attributes of digital payments.

If you add to this the UK increase of the contactless limit to £45 at the beginning of April, cash for many has all but become redundant. If already, only a third of payments are made in cash, it’s unquestionable that the additional pressure that COVID-19 has applied to coin and note exchange will see the predictions for a largely cashless society within the decade, accelerated at speed.

Halifax said the number of over-65s signing up for online banking jumped by 63% and their use of contactless has also soared.

And it’s not just digitally-savvy millennials that are driving this trend. Many older people have switched to online banking and contactless payments since March this year. Halifax said the number of over-65s signing up for online banking jumped by 63% and their use of contactless has also soared. It’s highly likely that temporary measures put in place to help limit the spread of the Coronavirus such as stores only accepting cards and contactless will clear the way for a cashless. Business banking app Amaiz’s recent research revealed that around 50% of small and medium businesses in the UK have either gone entirely cashless or plan to do so in the wake of the COVID-19 pandemic.

Of course, there are drawbacks to a cashless society. We must not forget that for many people, small businesses and not-for-profits, cash is crucial to their survival; for those without bank accounts, digital payments may reduce financial access. Many now call for regulation to ensure that retailers, restaurants and bars must also accept cash tender.

Whilst downsides are evident, for many, convenience outweighs. And as we become ever more reliant on digital services to tend to our basic needs in life beyond the curve, the decline in the use of cash looks set to continue.

The digital opportunity

Technology is revolutionising our relationship with money. The omnipresence of smartphones and the development of financial applications means that it is possible to bundle spending habit reports, savings, checking, credit card usage, loans and credit score all in one easy and secure place. In turn, this means that mainstream FinTech has created the opportunity for consumers to develop financial literacy regardless of background, age or current financial circumstances.

The cost of maintenance of a sparsely used cash system will become increasingly debilitating over the coming years. Cash will become costlier to maintain as its value to the vast majority of consumers diminishes. It is therefore crucial that banks and FinTech businesses work to bring those without bank accounts, and the elderly further into the FinTech ecosystem – suggestions such as the Bank of England’s digital notes are perhaps a good starting point.

The repercussions for organised crime and fraudulent activities are also significant in a digitally managed system, providing both a more secure currency – less liable to loss – and less room to hide significant portions of extra income.

Technology has worked to help us understand, track and manage our money in a way we’ve never been able to before. And as COVID-19 turned industries on their heads, banks had to evolve in real-time to further provide digital services that customers would have ordinarily sought assistance in branches or over the phone. As we quickly evolve into a digital-first world, banks, governments and businesses must recognise that digital payments are an opportunity for inclusion, for increased financial literacy and for long-term economic stability. They need to work collectively to ensure measures are put in place to protect those who still need access to cash and to provide a greater breadth of service digitally for those that will shift from pounds to plastic. For a cashless society is no longer stuff of the future, it’s here and due to the COVID-19 crisis is coming much quicker than we once predicted.

According to recent figures from the British Retail Consortium, cash has gone from the most common way to pay for shopping in the UK to third ­– in only a few shorts years. It now accounts for just £1 of every £5 spent in shops, with contactless, phone and watch payments all increasingly growing in popularity.

You may therefore find yourself asking: why do we still need cash if we don’t use it anymore? Shouldn’t we be adopting these new and improved methods of paying for goods instead?

Well, no not quite yet – cash still has a major role to play in our society. Listed below are five key reasons why.

1. Not everywhere accepts cards

Nothing beats a greasy kebab from a food truck after a night on the town, or a cheeky purchase from a handicraft stall while out shopping. However, these sorts of places often require you to pay with cash, mainly because the vendors can’t afford to offer card payment alternatives.

Just because you have a fancy phone or watch that can pay for things with a simple tap, that doesn’t necessarily mean everywhere else is up to your level of digital savviness. Roadside stands, super hole-in-the-wall restaurants and food vans often only ever take cash so, unless you want to trade your fancy phone for a burger, you’re going to need some cash.

2. It’s great in an emergency

Let’s set the scene: you’re on a night out enjoying yourself when you realise you’ve run out of drink. You head to the bar, order another one, and get your wallet out ready to pay. Suddenly, you realise that your card is missing – you must have lost it dancing earlier on.

In these types of situations, having cash available can make a huge difference. Not only can it allow you to buy that drink you were after, but it also enables you to carry on enjoying your night, and get home safely in a taxi when you’re ready to head back home.

3. It makes tipping easier

When you visit a restaurant, it’s usually courteous to leave a tip. While some restaurants include this on the bill beforehand, or make a point to ask for it on the card reader itself, many people prefer leaving a handful of cash behind instead – depending on the quality of service provided.

Similarly, if you use a card to pay for purchases at a smaller restaurant, service provider or store, they won’t actually receive the full amount of money you pay. This is because using a card machine actually costs the company money themselves; somewhere between 0.6 – 3.5% of the purchase price, plus an additional fee on top.

4. Cash prevents overspending

If you are looking to stay in control of your finances, many studies have shown that people spend a lot more when paying with a credit card, compared to cash. This is because the tangibility of actually having to part with cash makes the ‘pain’ of the payment process feel much more real. By using a credit card, you don’t see the money leave your account, so the whole process of paying feels like it hasn’t even happened.

The pain of paying with a card only sets in once you make the brave decision to actually look at your bank balance.

5. Cash protects your privacy

Spending money on a credit card creates loads of data. This data, in turn, can be easily accessed by prying eyes, such as the government, hackers, or corporate financial institutions.

Cash, on the other hand, is relatively untraceable, as it leaves no track record of who handled it, when, and at what time. Therefore, if you’d rather keep your data and purchase records to yourself, cash is the only means of doing this.

This doesn’t have to be for any criminal motive either: say you have a joint bank account with your partner and are on the lookout for a birthday present for them, they could easily see what you bought them if you paid for it using the joint credit or debit card. Surprise ruined.

Luckily, thinkmoney have uncovered the unspoken benefits for businesses if Britain were to ditch cash.

In addition, their research has also revealed which UK regions are the most prepared for the ‘death of cash’.

1. The Average Business Would See a £23,145 Boost

Research has revealed that businesses lose out on £23,145 when they only accept cash transactions.

2. Lower Risk of Illness Due to ‘Dirty Cash’

In its 113-month lifespan, the average £20 note is exchanged 2,238 times.

A single average banknote carries up to 3,000 different types of bacteria – some of which are known to spread skin infections, food poisoning and stomach ulcers.

3. Safer Workplaces for Staff in Retail and Hospitality

Since 2012, crime within the food/ retail businesses has fallen by 9% - which could be attributed to fewer establishments handling cash.

4. Your Money is Safer With Banks

In the past year, UK banks have successfully prevented £1.66 billion in fraud.

5. A Potential £80m Increase In Charity Donations

A lack of Brits carrying cash has led to UK charities losing a staggering £80 million every year.

However, another organisation that relies heavily on donations, the church, has seen a 97% increase in donations since accepting contactless payments.

6. The Government Could Save £35 billion – Which Could be Invested in Businesses

Every year, the HMRC loses a staggering £35 billion to tax avoidance.

If Britain were to go cashless, this saving could be invested in businesses.

As there’s been a notable drop in the number of people using cash machines, thinkmoney have also uncovered which regions have seen the biggest decline over the past year. The results suggest which regions are the most prepared for a cashless society.

From this research, it is clear that Northern Ireland is the least prepared for a cashless society. It’s also worth noting that last year, N.I. was the only region that saw an increase in the number of bank branch openings. Every other region saw a clear decline.

Any business wanting to join them faces a complex assessment process. More than 10 years after Bitcoin was created, there is still a widespread absence of regulation around cryptocurrencies.

A good starting point is to recognise that money is not what it was, quite literally. Cryptos such as Bitcoin, Ethereum, Bitcoin Cash and Gemini Dollar are quickly changing the paradigm for payment. They are also now on a pathway to mainstream use. This process is being driven by the development of apps and platforms to make it easy for people to pay instantly in digital currencies.

So how far should a business go in what is still an evolving, volatile world where valuations fluctuate and conversion processes are tricky? It seems wise to set boundaries: not to invoice in crypto or manage conversion into fiat currency, for example. This means finding a reputable intermediary.

Money is not what it was, quite literally.

Despite the lack of regulation, some benchmarking is possible, such as discovering what regulations different potential intermediaries submit themselves to. There is regulation in New York, for instance.

There are also wider questions, given the digital nature of cryptos. How do those handling transactions protect data?  What volumes of money do they move and where? How does their cost model fit into your own system for payments?

It is also important to assess potential partners for their own stability and standing, including their relationships with banks and institutions that are in that world.

This is all necessary because cryptos remain created, held and traded without any underpinning by governments. They exist without the regulation and transparency typical of a state-backed fiat currency.

There are also tax issues. Although cryptos can be a currency, they are treated by most tax authorities as securities and should be declared accordingly. This means potential capital gains liabilities for those who hold and trade in them, and VAT issues if the crypto token is attached to an underlying service.

Beyond that broad definition, there is regulatory fog. Rather than wait for that fog to clear, it makes sense to apply some common-sense standards now, including anti-money laundering and customer ID requirements, to help avoid problems later.

Is it worth getting involved with cryptos at all at this stage? The answer to that will depend on what the business does. For example, the instant, borderless payments enabled by cryptocurrency can be an advantage for businesses that trade globally, particularly those with an e-commerce platform.

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Cryptos are also not bound by a single country’s exchange rate or even location, making it easier for companies entering a global market to accept payments from anywhere in the world. They also avoid banking transaction charges.

It is perfectly possible to set up digital wallets and accept crypto payments directly. But that means also accepting all the associated risk and technical know-how required. Few businesses will want to get that involved in the infrastructure associated with holding the coins, let alone working out what they are worth at the crucial moment an invoice is raised.

Fortunately, there are now a number of well-regarded exchanges. These largely absorb the risk of accepting digital payments and make the necessary transfers, including translating the crypto into the fiat amount billed.

BitPay, for example, is a payment processing provider that converts a traditional fiat currency fee into a bitcoin equivalent as soon as it is issued. The bitcoin price is then fixed for 15 minutes before being automatically renewed using the same process, something necessary because of value fluctuations.

The invoicing firm then receives its payment electronically through BitPay, but as fiat money.

The advantages for the invoicing business from using a reputable provider are reduced risk and the likelihood of prompt payments as clients respond to the 15-minute conversion windows.

Is it all worth the trouble? Just as the way we transact money is changing rapidly, so is the nature of it. For some firms it just makes sense to engage with the future of money now, building knowledge and expertise carefully and organically through experience. My firm is proud to be among them.

Authored by Jon Wedge, Financial Services Partner at BKL.

But what exactly are MCAs? And what are the pros and cons for business owners looking for a quick cash fix when facing cash flow difficulties? Michael Foote, Managing Director at Quote Goat, answers these questions below.

MCAs explained

Merchant or Business Cash Advances are advance payments made to a business in exchange for an agreed percentage of future sales through credit or debit cards.

More suited to businesses that take a reasonable proportion of their income through credit or debit cards, a Merchant or Business Cash Advance is considered a short-term, unsecured business loan based on future sales.

In agreeing to a Merchant or Business Cash Advance, a business effectively sells a proportion of their future sales or income in order to receive a large cash sum to aid increased cashflow.

A Merchant or Business Cash Advance is considered a short-term, unsecured business loan based on future sales.

Pros

Compared to conventional business bank loans, Merchant Cash Advances come with a host of benefits to businesses in need of additional cash:

High approval rate: Merchant Cash Advances have a typically high approval rate when compared to traditional bank loans, meaning younger businesses who often struggle with cash flow are more likely to benefit as a result.

Speedy cash injection: Once a loan has been approved, Merchant Cash Advances have a quick turnaround, where businesses are normally in receipt of their requested cash injection within 24 hours.

No interest rates or APR: Compared to conventional bank loans or other means of business funding, Merchant Cash Advances have zero interest rates, providing a more manageable loan option for both small businesses and start-ups.

No fixed payment amounts: Unlike other business loans, Merchant Cash Advances operate on an agreed percentage as opposed to a fixed payment, where the business in receipt of the loan pays a daily percentage on the sales received. This means that during quieter sales periods, the business does not struggle with the return of high loan payments.

Cons

Shorter payment terms: The payment terms offered through a Merchant Cash Advance tends to be shorter than conventional business loans. Therefore, it is important for the recipient to be as accurate as possible when forecasting future sales to ensure the loan can be repaid in full within the given timeframe.

Not suitable for all businesses: If your business does not receive payments through either debit or credit card, or only a small percentage of sales are received through cards, then it is unlikely that you will be able to receive a sizeable loan amount compared to alternative options.

To find out more, visit: https://www.quotegoat.com/business-finance/merchant-cash-advances/

From the cost of the estate agent you use at the start until the solicitor fees at the end, many factors are going to be considered when moving house – and this is even before adding the cost of hiring a removal company.

The good thing is there are some tips and tricks you can use to reduce the costs take a look at Familymoney. Below are some tips that will go a long way in helping you save money on removals companies:

Booking Early

If you know about the move early on, you can easily end up saving a lot of money by booking early. Just like the travel industry and airlines, booking late can sometimes mean running the risk of finding the company all booked and you have very limited choices. When there are limited choices, the rates tend to increase.

If you are not sure about the date of moving but still want to get started early, arrange for consultations with moving companies and getting quotes. This will ensure you already have the comparison and which moving company to choose when you finally know the dates. This will speed up the process. You can expect the quotes you get from the removal companies to be valid for about 28 days.

De-cluttering

Before you can call your estate agent to come and take photos of your house and start booking viewings, one of the most important things you need to do is decluttering the house. You should try to strip every room into basics – pile up children’s toys that they no longer play with, sort old shoes and clothes, get rid of ornaments, pictures, and books. When you de-clutter the house, it ends up looking more presentable and also saving you money when moving; the less stuff to move, the less it will cost.

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De-cluttering for moving house

Once you have decided on three companies that fit your requirements and they have done their survey to determine the quotation of the move, compare between the three options. You should have a closer look at the services they provide. Are all of them the same? Is the volume the same across all the three options? Have they included extra services you had requested on the quotation? If there is a company you like the most between the three but they are a little more expensive compared to the others, you should not be afraid to call them up and let them know – they might end up coming up with a way of lowering the costs and you end up with a good deal.

Summer is not the best time to move… or on a Friday

It is a little hard to avoid moving during the summer for many people, but if there is any way you can move before or after summer, then try because it can end up saving you money. The reason why summer is not the best time to move is that this is when there is increased demand because many people tend to move during this time, leading to an increase in cost.

If there is no other option but to move during the summer, then you should not move on a Friday. This is the most popular day for moving because they see it as a perfect option since they will have the weekend to move and unpack before they go back to work on Monday. Completing the house on a Friday can be a little complicated; if the exchange of keys or paperwork is delayed on Friday, the move is then done during the weekend which can also mean an increase in costs.

Removing the services you don’t need

If you go through the quotations from the different companies and have compared and made the decision on a removal company that works for you, but you are not happy with the pricing of their services and they don’t have room for negotiation, then you should have a closer look at the services you have been quoted for. See whether there are services that have been listed on the quotation that you don’t need and can be removed. Maybe you thought you needed packing services or service for dismantling and reassembling items such as furniture, but you have learned a little more about the moving and confident you can easily do without these services. If you go through the quotation and realize there are some services you can do without, make the effort of calling the moving company and speaking to the moving coordinator who will be able to amend it.

Choosing second-hand removals boxes

If you decided to do the packing on your own, then you might have requested the removals company to deliver boxes to your home. Some will offer second-hand cartons. These are usually those that have been used just once before, and they will be sturdy and able to protect items when moving. You will end up paying much lower for the second hand than the brand new moving boxes. Ask the removals company whether they have second-hand cartons.

Consumer knowledge about digital currencies is limited and cash is still king. But many people still hold a positive view about the future of cryptocurrency and are curious about its possibilities.

The seventh ING International Survey on new technologies found that 79% of UK respondents knew at least a little about cryptocurrency (identifying at least one out of five true or false statements correctly). Among this group, opinions are divided as a third (32%) had high expectations for it, just ahead of the 28% with low expectations.

A fifth of this group (21%) agree that crypto is the future of online spending, behind the European average of a third (32%). An equal proportion (21%) say they are open to receiving new cryptocurrency offerings from brands and bodies they are familiar with, agreeing that banks should offer current accounts in crypto.

This outlook comes despite wide levels of confusion about how cryptocurrencies actually work. Although 69% of people understood that crypto is a form of digital currency, an equal number (68%) either incorrectly thought that it is controlled by a central body or said they did not know.

Jessica Exton, Behavioural Scientist, ING, said: “People aren’t clamouring to understand the details of how cryptocurrencies work, or even what they are. But whether we would pick it up if it proved useful remains open to debate. We see country some differences in how people are learning about cryptocurrencies and while smaller groups in the UK agree cryptocurrencies are the future of spending online, relatively few of us are actively sourcing information about them, such as through searching online. More knowledge doesn’t always lead to higher expectations of the future relevance of cryptocurrencies through, indicating many factors are at play. While small groups are enthusiastic about their future use of cryptocurrencies, every-day relevance and demonstrated benefits will be key to turning the crypto curiosity our research reveals, into a true money revolution.”

The survey’s findings, which show a curiosity about cryptocurrencies but also a tendency to trust the familiar, suggest that a digital currency hybrid - a mix of new forms of currency with the familiar elements of regulation, practices and providers we know – could be one way to broaden the everyday use of this type of currency.

Teunis Brosens, Lead Economist for Digital Finance and Regulation, ING, said: “If cryptocurrencies are to become mainstream, technical improvements are needed. But to gain trust and acceptance beyond a core group of enthusiasts, affiliation with existing well-known brands would help. In short, cryptocurrency would need to present itself to potential users from within the existing financial framework, instead of placing itself outside.”

Facebook Libra – the transitional tool?

This is illustrated through Facebook’s Libra. While its initial structure does not make it a cryptocurrency, plans to move towards decentralised governance in 2025 mean that it may act as a transitional mechanism.

Cash is still king

Despite a relatively favourable view of cryptocurrency among many consumers, our survey found that they are not yet ready to embrace it fully. Only a fifth (20%) of UK respondents would prefer it if cash no longer existed. One-in-five (19%) of those with some knowledge of cryptocurrency responded positively about both their anticipated use of it simultaneously with their use of cash.

This suggests that cash may continue to play a significant role if and when cryptocurrency is adopted on a wider scale. Diversification and choice will be key, depending on availability and preference.

ING's seventh International Survey on new technologies is based on approximately 15,000 respondents in 15 countries, including over 1000 from the UK.

*These results are based on a sample of respondents that correctly answered at least one of five true or false statements about cryptocurrency (79% of total sample).

From workforce expenses to high value transactions between buyers and suppliers, the market that supports the initiating and acceptance of card-based business payments is big and growing. Below Pat Bermingham, CEO of Adflex, asks whether fear of the unknown is holding firms back.

According to Mastercard, Visa and American Express, commercial card payments hit a five year high of US $2 trillion in 2018. Companies that cater to these types of transaction rightly see opportunity and are investing in new solutions, like virtual cards, which simplify the management of a company’s payments, increase usability through mobile apps and online portals and reduce operating costs, all through a range of powerful new digital features.

Yet some businesses remain hesitant to adopt virtual card technology. Why? It’s a problem of perception. Businesses - finance departments in particular - associate change with risk and, fearing technical complexity, often shy away from adopting new tech. This is a mistake; there are big value gains to be had with comparably little cost and disruption.

What are virtual cards and why are they cool?

Essentially, a virtual card functions in the same way as a normal credit or debit card, minus the plastic. Making this leap gives companies far more than a bit of extra space in their staff’s wallets. By going digital, the cards themselves can be endlessly reissued, and the rules that govern them quickly reprogrammed, giving a company almost limitless flexibility to shape its spending power to suit its goals.

This means that, unlike plastic cards, virtual cards can be single use. A new card, with a new card number, can be created for every transaction – and still each maintain a direct link back to a single, central bank account for easy and transparent accounting.

One key business advantage of using virtual cards lies in their ability to significantly reduce the risk of fraud. The creation of a new virtual card for each transaction means that, even if sensitive card data is intercepted, it cannot be used to make further payments. What’s more, when a virtual card is ‘spun up’, it is created for a specific payment – referencing the exact amount, merchant, and date range. Payments outside of these parameters simply won’t be authorised, seamlessly protecting buyers from fraudulent transactions without impacting the user experience.

Furthermore, the authorisation framework of the unique virtual card number (VCN) makes payments easily trackable and provides all of the data needed to help merchants reconcile payments with account receivables – increasing operational efficiency on the supplier side.

Virtual cards are uniquely valuable in B2B contexts. Although consumer products were brought to market, the inability to use them for in-store payments and ATM cash withdrawals limited their adoption, and most issuers eventually stopped offering them. As B2B payments are rarely made via a physical terminal (i.e. face to face), this adoption barrier doesn’t exist in the corporate world, prompting many industry experts to predict that virtual card volumes would snowball. Yet, years later, we’re still awaiting the watershed.

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So what’s holding the industry back?

The adoption of new financial processes is often a long-term goal. Not unreasonably, many companies, particularly enterprise-scale firms, perceive integration challenges and downtime as both likely and high-risk.

It’s certainly true that any downtime of internal payments systems would be damaging, but the use of dedicated, cloud-based APIs from specialist digital payment firms dramatically reduces these risks – such firms are solely dedicated to ensuring their digital payment systems seamlessly integrate with a business’s existing systems, and remain continuously available.

There is also a common misconception that while virtual cards benefit buyers, their impact on the suppliers is broadly negative. An often-cited issue is that of increased interchange fees borne by the company accepting payment, which can be up to 2.5% of each transaction. This perception deserves to be challenged, principally because it discounts the business opportunities that virtual cards bring to suppliers including dramatic process efficiencies and, perhaps most importantly, improved cash flow from instant settlement.

Virtual cards from issuers like Barclays enable buyers to pay suppliers upfront via a line of credit, without affecting their own cash flow – similar to the process of paying off a consumer credit card payment.

These strategic benefits to both buyers and suppliers, while nuanced, stack up to a compelling value proposition for even the most change-resistant of firms.

Are we nearly there yet?

The stars appear to be aligning for corporate virtual card adoption. The only real barrier remaining is that of supplier education. To ensure successful take up, issuers, digital payment integrators and buyers alike must share responsibility for communicating their value to merchants within B2B supply chains. Accomplish this and we will finally start to see the levels of adoption this terrific payment technology deserves.