Ask Andy #18: Your money questions answered

My regular round-up of your personal finance questions.

I love hearing from you, whether it’s on the blog, social media, YouTube or on email. Often you’re asking me questions about your finances, and I’m always glad to help if I have the time.

But I realised that my answers could also be useful to other followers. So I’ll be putting my responses to the best questions into regular articles here on the blog.

Keep reading for some of the questions I’ve been asked, plus the video live from last week with even more!

Watch the latest Q&A

Watch my answers to questions in the weekly Q&A on YouTube, including chat about how much to have in emergency funds, when to apply for an Amex, where to put money when a LISA is full and more.

How long does it take to receive cashback?

I’ve been following your blog for a while now and started using Quidco. I have tracked cashback but it hasn’t changed into confirmed and therefore I can’t withdraw. I wanted to ask you, the expert first if there’s usually a long wait in your experience or if this is an anomaly? 

 Amy via email

Hi Amy. Yes there can sometimes be long waits for cashback to be confirmed. It really depends on the retailer. They’ll all pretty much wait until the returns period has passed so there’s no chance them paying you but you sending the purchase back. Some though can take much, much longer to put the payment through.

You can see on each retailer page the general timeframes for tracking and for payment. For example it says 4 months for Argos cashback to come through.

Hope this helps!

Why I can’t I cancel Prime?

I have cancelled Prime, and they even refunded one month (back in January). Since then they have continued to take £7.99 per month from my bank account. ~The only way the bank can stop it is by issuing a new card. I’m 82, and they reckon they can get away with it. It seems impossible to contact anyone at Amazon.

Colin, via the blog

Try this contact page (I’m sure you already have). There’s an option that says “need help over the phone? We can call you”, which might help you get through to a real person!

Good luck. Let me know how it goes

For others looking to cancel Prime, watch my video here.

Do I need a special card for my year abroad?

Andy,

I don’t really travel much but I’m going to live abroad for a year in Spain. Would you recommend a travel card for being abroad for that amount of time?

Kyara via YouTube

You might want to open up a local bank account in Spain when you’re there. This will be useful if you have any income in Euros, eg from a part-time job.

But if all your funds are going to be in pounds then you could also look at taking a Starling card with you and using that. Your spending will be converted from Euros fee-free, and it also has the option of an extra Euros account if you needed it. Here’s my review of Starling.

Can I use a Lifetime ISA to buy overseas?

Greetings! In the scenario of buying a 1st home, is it limited to buying it in the UK? Or can I withdraw the money for a 1st home outside the UK? Thanks in advance!

Kyle, via YouTube

Hi Kyle, yes I’m afraid it’s UK only for a first home with a Lifetime ISA.

Will Nationwide charge me for using an overdraft?

Does flex direct charge if you do overdraft, I had previously a flex one and I got a flex direct in april?

Bhargav, via YouTube

It depends if you applied for an overdraft when you opened the account. if you did it’ll be 0% for 12 months. If not, there will be a 39.9% charge. Here’s more on the account.

How to ask me questions

The best ways to get in touch is in the Andy Clever Cash Facebook community

Just post your question any time, or ask me live in my weekly Q&A each Wednesday (which is on Instagram and YouTube).

You can also comment on individual blogposts and videos or ask me questions via these channels:

• Twitter @AndyCleverCash
• Instagram @AndyCleverCash
• Email Andy[at]BeCleverWithYourCash.com

I can’t promise I’ll be able to answer all questions but I’ll do my best.