EBS corrects error in SSIA statements

A round-up of today's other stories in brief

A round-up of today's other stories in brief

EBS Building Society is reissuing account statements to a number of its Special Savings Incentive Account (SSIA) customers who were sent annual statements that showed the wrong figures for their accounts.

A number of equity SSIA customers were sent statements for 2005 that under-calculated the totals in their accounts.

Letters have been issued to these account holders to highlight the error and EBS said it apologised for the confusion caused. The affected account holders will be issued with their correct 2005 statement over the coming weeks.

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Rate of housing inheritance to rise

Baby boomers are so asset-rich they will cause an unprecedented boom in the value of housing wealth that is inherited in the next 15 years, according to UK bank Halifax.

Four-fifths of British people born in the years immediately following the Second World War own their own home, more than any other age group. Halifax said their deaths would lead to a doubling of the level of wealth transfer in Britain.

In the UK, about £14 billion (€21 billion) worth of housing assets are inherited every year.

By 2020, this figure will increase to £32 billion, the bank said, adding that rising prices would play only a modest part in that increase. - (Reuters)

Complaints about airlines up 82%

Complaints about airlines to the European Consumer Centre (ECC) in Dublin increased by 82 per cent last year, from 314 to 571.

The number one reason for complaints was delays, followed by damage to and loss of luggage. In the majority of cases, ECC Dublin said it had offered advice to consumers.

It intervened in a number of cases on behalf of overseas consumers, mostly in situations involving the two main Irish airlines.

Limit for small claims rises

The National Consumer Agency (NCA) has welcomed the Small Claims Court's decision to increase the limit in the awards it can make from €1,269 to €2,000.

"By increasing the amounts that can be awarded by the Small Claims Court, a broader range of consumers will be encouraged to pursue this cost-effective method of seeking compensation," said NCA chairwoman Ann Fitzgerald.

Information on the court is available at www.consumerconnect.ie

Vouchers for Tesco credit card users

Tesco is giving €40 shopping vouchers to all new customers who sign up to its credit card between now and May 14th.

The Tesco credit card includes a 0 per cent interest rate on balance transfers for up to six months.

Customers can also earn Tesco Clubcard points on purchases made in any retail outlet. The interest rate on purchases is 14.9 per cent APR.