Tag: Europe

Consumers bank on the post rather than online for managing finances

Posted by | Dec 13, 2007 | |

A new survey investigating the attitudes of UK consumers towards their finances has revealed that nine out of ten people (88 per cent) prefer to receive physical copies of bank statements through the letterbox rather than relying only on online banking.
The research, undertaken by the Henley Centre in conjunction with Royal Mail, has also revealed that when it comes to safe delivery of confidential information, seven out of ten (70 per cent) people trust the post more than email. In a time when consumer concerns about identity theft and the level of personal information held by organisations are running high, the issue of trust and security is a key factor when it comes to communicating confidential financial information.
The survey, “Beyond the Gate: Making a Statement,” provides an insight into household financial organisation and the role of the post in the changing media environment.
Despite the rise in internet banking, even those who do manage their finances online still rely on their posted bank statements to check their finances, with 68 per cent of internet bankers preferring to receive banking details through the door. The study also shows that the most common activity of online bankers is for checking balances with 86 per cent using websites to keep track of their spending.
Two thirds (67 per cent) of respondents say it is easier to read and understand details from a statement than a computer screen. It appears the posted statement plays a role more complex than information provision, as less than a quarter of consumers have printed out details of their financial status from the internet.
Other interesting statistics from the research include:
– 77 per cent like to receive details marketing new financial products and services through the post
– When researching new financial services, 15 per cent prefer to receive information through the post – almost as many as seek details from price comparison websites (16 per cent).

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Hermes wants VAT exemption for consumer parcels

Posted by | Dec 12, 2007 | |

German parcels carrier Hermes Logistik has officially applied to the German finance ministry for VAT exemption for its consumer parcels service in order to match the status of Deutsche Post and reduce a 17pct cost disadvantage.

Hermes said that in the market segment for parcels up to 20kg it currently has to charge VAT while Deutsche Post has VAT exemption on the grounds that it provides a universal postal service. But Hermes said its consumer parcels service is effectively a “universal service” since it provides nationwide coverage through its 13,500 ParcelShops and home delivery network.

“The one-sided exemption of Deutsche Post from VAT is not in line with European law or the principle of neutral taxation,” declared managing director Hanjo Schneider. “The resulting disadvantages for other market participants, especially for pricing, are massive and lead to unacceptable competitive distortion.”

The European Commission is already investigating Deutsche Post’s VAT exemption, and German chancellor Angela Merkel also said it needed to be examined following the decision in favour of compulsory minimum wages in the German postal market from January 2008 onwards.

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DHL signs five-year GBP 150 million contract with MFI (UK)

Posted by | Dec 12, 2007 | |

DHL Exel Supply Chain has today announced a new five-year deal with MFI, the UK’s leading home and furniture retailer, after successfully winning the contract to manage the high street giant’s new distribution center and home delivery operation.

Under the terms of the five-year contract, DHL will invest more than GBP 10 million (13.8 million euro) of its own capital into the venture. This investment will help to improve the information technology system which supports the new, streamlined picking and packing process in the warehouse, and also to develop additional warehouse space as MFI’s product range increases.

On Friday 7 December, DHL and MFI opened a new, major distribution center in Yorkshire, which signifies the start of this new business relationship. Cabinet Office Minister, Ed Miliband, carried out the official opening at the state-of-the-art 750,000 sq m distribution center in Thorne (South Yorkshire), thereby cementing a major breakthrough for DHL, as the deal represents one of the biggest ‘shared risk’ partnerships it has ever entered into with a customer.

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MP Kitty Ussher Uses GCMT to Announce FSA to Regulate Payment Services Directive

Posted by | Dec 12, 2007 | |

“In the UK, according to our best estimates, around GBP 2.3bn worth of remittances are made each year. The money transfer sector is growing rapidly. Already we have almost 4000 money transfer business operating out of almost 30,000 premises. A transparent and robust system for overseas money transfers is crucial and we need the market to work as effectively as possible.”

With this statement, Economic Secretary and City Minister Kitty Ussher opened the third Global Consumer Money Transfer conference in London.

She went on to announce to the industry that the Financial Services Authority will regulate the Payment Services Directive (PSD) in the UK, clearing the uncertainty that has surrounded this issue. “We think that the FSA is the best choice; they are the best people to do it.”

“It’s a whole new system of regulation under the Payment Services Directive that we think will make our sector stronger while preventing abuse. Everything to do with the Directive, with the exception of the money laundering issue will be done by the FSA.”
While the FSA will be the UK regulator for the PSD, the HM Revenue and Customs will retain its supervisory role over businesses. Ms Ussher said, “HMRC are experienced anti-money laundering and counter terrorist financing supervisors. By retaining supervision of money service businesses HMRC will provide continuity for the sector and be able to utilise their supervisory powers under the Money Laundering Regulations 2007. I believe this will provide the most effective approach.”

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Boost for WEEE reuse as alliance agreed between FRN, DHL and DSG (UK)

Posted by | Dec 12, 2007 | |

A pact which aims to boost the reuse of waste electrical and electronic equipment (WEEE) by 100,000 items a year has been agreed between the Furniture Re-use Network (FRN), delivery company DHL and retailer Dixons Stores Group (DSG). Under the agreement WEEE collected by DHL from DSG’s nationwide takeback-on-delivery service will be reused by FRN.

DSG’s 14 UK regional distribution centres have been partnered with an FRN Approved Reuse Centre (ARC) through FRN subsidiary FRN Enterprises. Each ARC is reusing between 70 and 200 items a week.

DSG group reverse logistics operations director Sarah Geddes explained: “Since the introduction of WEEE legislation in July, we have been keen to play an active role in encouraging customers to recycle their old electrical items responsibly. This alliance is important as it enables us to encourage reuse.”

This type of structured approach is maximising the amount of electrical and electronic appliances that can be reused through a nationally prescribed agreement dovetailing with local relations between site operators and reusers.”

When delivering new products delivery staff will ask customers if the product being replaced still works and if it does they will tell customers that the item will be reused by the local FRN ARC. Working items will be labelled to enable distribution site staff to sort returned items for reuse or recycling. Then one of 14 ARCs will collect the reusable WEEE from DSG.

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