Money

Making money at the Royal Mint

The Royal Mint makes billions of coins every year
The Royal Mint makes billions of coins every year at its high-security site near Llantrisant, south Wales, but you will not find any in the pockets of its workers. 
So how do you make money and how do staff pay for things without any? The BBC's Kevin Peachey was given special permission to visit the Mint and find out more about what goes on inside.

Name checks on payments to start next March

Kevin Peachey

Personal finance reporter

Paying by card
Getty Images

A system making a recipient's name as important as the bank account number and sort code when payments are made should begin by the end of March next year.

The Confirmation of Payee system means anyone making a payment will be alerted if the name does not match the account.

It is designed to prevent millions of pounds worth of fraud, but its introduction has been delayed.

It was supposed to be in place by July this year, but now the Payment Systems Regulator has proposed that the six biggest banking groups ensure it has started by 31 March.

The six - Lloyds Group, Barclays Group, HSBC Group, Royal Bank of Scotland Group, Santander Group, and Nationwide Building Society - account for 90% of bank transfers.

At present, only an account number and sort code need to match for a payment to be successful.

Debt problems 'starting at birth'

Kevin Peachey

Personal finance reporter

Debts on calendar
Getty Images

A quarter of those struggling with debt as adults were born into a similar financial plight, a charity has said.

Christians Against Poverty, which offers debt advice and support, has published a report suggesting that 27% of those seeking help had parents who faced the same problems.

Matt Barlow, chief executive of the charity, said: "When you’ve grown up with debt as the backdrop, it takes a huge leap of imagination to believe that life can be different.

"There’s also no-one to show you the right way to prioritise, plan ahead, or even talk about finances."

The report also outlines how one in four of the charity's clients had gone without at least one household item because they could not afford it.

That included 15% of clients who had lived without a bed or mattress, and 10% who went without a cooker.