Why are banks making it so easy for fraudsters to open accounts? THE PRUDENT INVESTOR: Why Bite bitcoin chart’m ditching lousy fund managers who can’t even beat a robot!
Revealed: The most viewed overseas homes for sale including a Majorcan villa once featured on hit TV show Love Island – which exotic pad would you pick? REBECCA GOODMAN: Victory for This is Money as Ofcom FINALLY says Virgin Media’s exit fee is too high – so why is it still getting away with charging it? 58bn global empire steps down – but will he now run for US president? I cashed out my Isas and lumped half of it in Bitcoin’: LEE BOYCE on a conversation with a taxi driver that reveals how far the boom has reached By Lee Boyce for Thisismoney. Recently I was in a taxi and as one does in such close quarters, began chatting to the driver about life. Upon asking my profession, where conversation often heads, he proceeded to tell me lightly about his finances and frustration trying to find an income. I have taken all of my money out of Isas, I’m fed-up with the low rates from the banks’ he said, animated.
I knew where this chat – and his cash – was heading. The B-word, which has somehow pushed Brexit into second place. I have put half of it in Bitcoin,’ he added, glancing in his rear view mirror, perhaps seeing if I was shocked or aghast at his decision. I was intrigued more than anything to find out what prompted his decision. 16,000 a coin – or 70 per cent in a week – so the move, at present, has been a wise one. You cannot move for noise about Bitcoin.
The amount of correspondence I’ve had about cryptocurrencies in the last month has also rocketed. It’s a complete and utter feeding frenzy, which fuels worry about online currencies. Many suggest they are taking money out of their tax-free Isa wrappers. Unless you have built up a huge pot, many find the low rates pointless, especially with the relatively new personal savings allowance.