UK financial journalists have found a “scandal within a scandal.” Ex-financial expert turned journalist Cliff D’Arcy said that “alternative” or “comparative redress” is the new way banks are saving millions of pounds in consumer refunds. Millions have made a PPI reclaim attempt, but none of them questioned if the £2780 they received was rightfully theirs.
Journalist said that Lloyds, Barclays and RBS are three of the biggest banks to have used the regulatory provision from 2012 to 2013. Lloyds used the provision from February 2013, Barclays from October 2012-2013 and RBS from November 2013.
Alternative redress allows a bank to substitute any PPI with a regular-premium PPI in case the consumer’s insurance policy has undetermined premiums. Most consumers with single-premium PPI, which costs more than a regular-premium PPI, may have been undercompensated.
PPI claims company Payment Protection Insurance Claims Co and other claims handlers said that consumers given alternative redress should contact their bank, ask if they were given alternative redress and ask the bank to do something about getting the remainder of their refunds back.
The Financial Ombudsman suggests the same method, although the organisation said the FOS could reclaim the refunds at no additional cost.
Brand development helps customers recognize your logo, the color scheme and other patterns your business uses as part of its symbolism and hegemony. But aside from brand development, their experience in using your product or service is what counts more in their memory.
Consumers only want quality products and services from businesses. The relationship between them and the business does not end upon selling an item. Talking about warranties, possible troubleshooting in case of product troubles and support for repairs or replacement are very important.
If you deliver great after-sales service, your patrons will give your business great feedback and they may even refer your business to their friends, colleagues or whoever may find use for your products and services. A good personality and impression on consumers ensures their complete trust in your products and capabilities.
However, there is a line between being personal and being professional. If you appear as a professional, consumers will respect you, but showing a bit of a human side, such as being concerned with the possible hassles consumers might have through your employees or representatives, is crucial.
Customers will remember you by your product or service, but they will also remember you for showing a human side in your business. This goes to show that you are not just there to profit from them, but to also allow your products and services to help them through quality control and continuous improvement.
Early this year, I told myself that I would be expanding my business by having two new branches in the different areas of my city. My business is just those late-night mobile snackbar trucks, the ones you probably see when you have gone hard from a party and you find it in some place you don’t expect. Well, we move a lot. Anyway, I’ve been interested in such and I didn’t know that if you registered your small or medium business, you get some perks.
Legally, you get taxes and an owner must have the deed to the property and a license to do business. Once this is approved, I was told I could apply for business development grants. I didn’t know about this, but did some research. Apparently, my country (which I can’t name, sorry, privacy reasons. Haha) is currently trying to help out young and new entrepreneurs to enter the industry and enrich the local economies. We could actually get loans for expansion with the government sponsoring a large percent of the down payment for anything we need.
I just told myself, sweet. We’ve been seeing some successes on our internet marketing and social media advertisement campaigns. The time is just right for our expansion. These grants may also be available in your country. You could ask your local ministries to help you find such grants and fulfil their requirements.
A new year brings more opportunities for improvement for small businesses and starting entrepreneurs. After the reviews in business performance, the chance to correct issues comes in the following year. The legal aspect of the business is the most difficult part of having a small business. Here are some essential tips for entrepreneurs dealing with the legal side of their deals.
January 1 is the best times to incorporate your company, which allows for easier tax returns for your business. You would not have to file two separate tax returns for the unincorporated entity. If you filed your taxes in December 2013, you will have a late-filing date of January 2014, which helps you have more time before paying government taxes after some weeks of service in 2014.
Always ensure that all your contracts are in paper. Many small businesses often fall prey to verbal agreements, which constitute no material evidence that the conditions and the deal itself is to push through. The contract should contain the scope of the work and duty of responsibilities both parties have.
3. Business Attorney
Maybe it is time that the business had its own legal counsel in the form of a business attorney. Attorneys do not only handle legal disputes; they can also help you mitigate costs and the legal implications of a deal that the business prospects to undertake with another company or business.
Brand signals allow businesses to indicate to search engines that they are a legitimate business and that they exist online. Building brand signals online is an important part of any Internet marketing strategy.
1. Profiles in Networks
Having a website with high quality content is not enough to gain brand signals. Have social media profiles in different social networks. Social media allows people to view your updates and visit your website. It also allows employees to register your business as their workplace.
When you have your social media profiles and author profiles for those updating your website blogs, verify them through either a fee or the proper validation process indicated by the social media website. A verified account allows search engines to recognize the information you provide as that of authority status.
3. Offline Advertising
Small to medium business could afford to make a 30 second television commercial or allow radio programs to advertise certain products and services they have. Print ads are also a good way for brand development. Any offline advertising helps in improving any Internet marketing campaign and brand signal development.
4. Content Quality
Good brand signals indicate higher quality content. This should be consistent in all your websites and social media updates.
The PPI claims scandal in UK has shaken the core of the financial world with claims for compensation becoming the most talked about topic. When you look at payment protection insurance, it is not a bad policy as such. It is very useful when taken by the appropriate individuals. Your loan gets protected in case you are not able to pay the loan dues in time, like for instance if you lose money or your money is tied up in other sources making you unable to do the pay off.
How PPI Claims Came about?
The problems with PPI all started when the banks and financial lending agencies started adding the policy without notifying the clients or giving them the required information regarding the PPI basics.
- For instance, the borrower was not allowed to take the policy elsewhere and also they were not given the quotes.
- Some of the banks involved in the PPI fraud did not keep the clients informed that they were paying for the policy too along with their loan. Bland statements like the loan of the client will be protected were made.
Claiming the Money
The mis-selling practice engaged in by the money lenders and banks have led people claiming back PPI. While some approach the bank or money lender directly, there are others who approach experts for making the claim. The financial ombudsman service is also another option which many prefer.
If you have all the relevant details that are required for claiming the money, the time taken will be a short one. But if the required paperwork is not with you, the PPI complaint process may be delayed. You can get PPI help from experts online regarding the papers required, and the PPI calculator helps in assessing the amount of money that you are eligible from the PPI claims.
As everything in the Internet is becoming personalized for every user, social media is becoming a good way to market your brand presence. However, proper updates for your social media accounts and a keen observation of your target market’s behaviour is crucial to making a good social media campaign.
1. Shorter and shorter
The shorter your updates the better. People in the Internet have smaller attention spans given the power to shift focus from one aspect to another. Having your audience read a textbook update will never give you greater advantage over your competition. Allow your posts to be small and sweet.
2. Use your Blog
A business blog is important not just so your visitors could know more about your business, but you could post your lengthy updates in your blog. You can share the link of this blog to update on your Social Media account. In this way, people can be instantly updated and those who want to know more about your update could do so with a click.
Timing is everything when doing a social media campaign. Never flood your audience with updates. Instead, post only once every six hours. Timing and frequency is correlated. For example, if your target audience are young professionals, choosing to make a post at 8AM, 12PM and 7PM could allow you greater audience exposure.
Everyone in the legal age and employed in a country is a taxpayer. As every citizen is legally obliged to file their tax returns, they are legally bound to ensure that they provide the right amount of tax returns. Cheating will result to tax fraud, which is punishable by law. Here are a few things you should know about tax fraud.
1. How To
You commit tax fraud and scam when you declare that your tax returns are lower, which helps to make you pay less taxes. When you commit this act, you are automatically penalized thousands of sterlings.
The global economy is not in the best shape in 2013 and even developed nations are affected by the crisis. Higher taxes might seem problematic for many people. However, tax frauds are not only committed on personal levels; corporate tax fraud allows companies to commit “money laundering”. Sometimes, businesses also save lots on paying taxes by using tax law loopholes.
Every country has an Internal Revenue Service responsible for prosecuting who had committed tax fraud. Penalties could go from £75,000 and probable imprisonment for serious tax frauds. You could also be fined £15,000 for every consecutive year you fail to file your tax returns.
When Google started out, people found the idea of using a universal information indexer as something impossible. It could never be easy to index every and all information in the Internet, which generates at a speed of terabytes per minute in the last two decades. However, Google released its first product, which was actually clunky, but as years passed, the algorithms improved and today many search engine experts are trying to figure out how Google worked it all out.
The impeccable ability of Google in returning the desired information its users look for had gained it its well-known brand to the world as the leading search engine. Google used technicalities, but it focused more on why people need it, not how the company wanted people to perceive them to be.
This is evidence that there is greater profit in brand development. Many Internet marketers today focus on search engine optimization, which could have websites penalized for over-optimization. SEO is helpful if you are only working for a short-term goal, such as using the website as a beacon to redirect to your main brand website. However, if you are looking to get the trust of your potential customers, presenting your business as honest as it is without the unnecessary technicalities is more appealing and likely to earn you loyal patrons.