Summary
For many households, Christmas is the most expensive time of year. Food, drink, presents - the list of things to spend money on can be endless. Many of us will be using debt as a way to make that spending happen. Figures this week show that there is so much unmanageable and unsustainable debt in the UK that just the fees and charges on it all work out at nearly £1000 for every single adult in the UK.
People who are second cardholders on a Nationwide credit card account are being prevented from making online purchases because of new customer identity checks. These checks are being phased in under new European regulations which insist on a second line of identification when we buy things online. It's called 'Strong Customer Authentication'. Usually that means a six digit code is sent by text to your mobile to enter online but for certain accounts with more than one card holder, these texts are only going to the primary account holder.
Investors in one of the UK's biggest commercial property funds run by M&G have been temporarily prevented from taking out their money. The fund owns offices, and shopping centres and whole High Streets of retail units. They have been having a difficult time with many going bust or demanding rent cuts to stay in business. But what does this mean for investors - those invested directly and indirectly via a pension fund?
Presenter: Paul Lewis Reporter: Dan Whitworth Producer: Alex Lewis Editor: Emma Rippon
Transcript
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| 0:00.0 | You're about to listen to a BBC podcast, but this is about something else you might enjoy. |
| 0:05.4 | My name's Katie Lecky and I'm an assistant commissioner for on demand music on BBC Sounds. |
| 0:10.8 | The BBC has an incredible musical heritage and culture and as a music lover, I love being part of that. |
| 0:17.5 | With music on sounds, we offer collections and mixes for everything, from workouts to |
| 0:22.4 | helping you nod off, boogie in your kitchen, or even just a moment of calm. And they're all put |
| 0:28.3 | together by people who know their stuff. So if you want some expertly curated music in your life, |
| 0:35.0 | check out BBC Sounds. |
| 0:41.3 | BBC Sounds, music, radio, podcasts. Hello. A major property investment fund stops investors taking out their money |
| 0:46.3 | and how to avoid debt at Christmas. |
| 0:49.3 | But first, people who are second card holders on a nationwide credit card account |
| 0:54.8 | are being prevented from making online purchases because of new customer identity checks. |
| 1:01.1 | These security measures are being phased in under European regulations designed to reduce fraud. |
| 1:06.8 | They insist on a two-stage identification process when we buy things online. |
| 1:12.1 | Banks and building societies are introducing what's called strong customer authentication, |
| 1:17.6 | usually a six-digit code sent by text to your mobile, |
| 1:21.4 | which you type in after your card details. |
| 1:24.5 | And that's where the problem began for Moneybox listener Karen Moyes. |
| 1:28.5 | My trains got cancelled. So I wanted to book a flight quickly because my holiday was coming up. |
| 1:35.3 | So what I did was I got out my nationwide visa and did the normal thing booking online. But when |
| 1:41.0 | it got to authentication, they wanted to text a number to a mobile phone |
| 1:48.0 | to authenticate the payment. Nothing happened. So then I phoned them, but actually they had |
| 1:55.2 | texted the code to release my payment to my husband, who didn't happen to be in at the time. |
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