More scheduled changes for GCSEs

Life is full of changes from the GCSEs to the banking industry.

10:41 14 June 2013

GCSEs in England will be changing, hopefully for the better, to introduce improved ways of testing students.

 

Many people may not be sure whether the proposed changes are sufficient, but they are urging a careful implementation to make sure the changes are done properly.

 

Banking also requires changes to be carefully planned. Here are a few of the more common changes you might experience with your banking accounts. 

 

• Interest rates—whether it is your banking account, or your mortgage loan, the interest rates never seem to do what you want them to.

 

If you are saving, interest rates are too low. If you are spending, they are usually too high. The interest rates also fluctuate, so if you want to earn money on savings, or reduce what you pay for your mortgage interest, be prepared to adapt. Refinancing or planning to save for the long term can help you weather the changes. 

 

• Fees—many banks change the fees that are charged to their banking customers, either by changing the amount, or by changing the types of fees that are charged. If you let one of these slip by, you could find these fees on your banking account statement. Keep track of any changes emailed or mailed to you.

 

• Requirements—while requirements of a banking institution may not change frequently, every once in a while a certain requirement such as the amount to open an account, or minimum deposit amounts. Some banking institutions may require that you keep a certain balance in an account in order for it to remain open and in good standing. 

 

• Policies—these fluctuate quite often depending upon the banking institution. Policies may include when and how fees are assessed, the requirements for your accounts, the types of products and services that are offered, and how disputes are remedied.