Results for Banks tag

Which? executive director, Richard Lloyd, said: “These failings add insult to injury for customers who have already been ripped off once. It’s been clear for years that banks should be doing more to resolve the mistakes they’ve made and this fine should be a warning shot for others who still aren’t treating customers fairly. The […]

Which? executive director, Richard Lloyd, said: “TSB needs to challenge the dominance of the big six banks by offering customers genuinely competitive products and services. Current account switching rates remain depressingly low and the market is crying out for a fresh approach, so any takeover must not lead to a reduction in innovation and competition in the UK banking […]

Which? analysis of 55 financial products designed for over-50s has found some are a rip-off compared with mainstream alternatives. We found bad deals in five areas targeted at the over-50s, despite some coming with eye-catching celebrity endorsements and free gifts: Over-50s life insurance plans: These plans usually offer poor value with whole-of-life plans often offering a better return.  […]

Which? is calling on the Government to introduce a national savings strategy in 2015 as we find a third of people are planning to save less in the coming months. The latest findings from the Which? Consumer Insight Tracker show that while nearly half (49%) are worried about their level of savings, a third of people (33%) are […]

Which? executive director, Richard Lloyd said: “This agreement is a step in the right direction for the many vulnerable consumers who were previously denied access to banking, although new EU rules mean that banks will soon be required to offer basic accounts anyway. “If the banks are truly committed to putting customers first, they must […]

Richard Lloyd, Which? executive director said: “Nobody should have to pay a premium to complain to their bank so this is another victory for the 90,000 people who supported our Costly Calls campaign. “Some of our biggest banks have already dropped high rate phone numbers, and we urge all financial providers to do the right thing and cut […]

Which? executive director, Richard Lloyd, said: “Consumers have been repeatedly let down by the pensions industry, with years wiped off people’s hard-earned savings, so it’s welcome to see the FCA working with the industry to clean up mistakes from the past. “The regulator’s proposals to ensure consumers have better information when they make big decisions about […]

Which? executive director Richard Lloyd said: “RBS should pay the price for letting their customers down with unacceptable IT failures. These multi-million pound fines rightly reflect how important it is to consumers that banks properly maintain the payments system we all rely on. “With record low levels of confidence in banking, regulators must continue to […]

Which? executive director Richard Lloyd said: “The staggering PPI mis-selling bill continues to haunt our major banks and the extra provision announced by Lloyds today reveals this scandal is far from over. “All banks need to do more to resolve claims fairly and make it as easy as possible for people to get back the […]

Which? executive director Richard Lloyd said: “RBS’s commitment to earn back the trust of customers is a welcome breath of fresh air, especially coming from one of the UK’s biggest banks. Their promise to help people understand how they will be affected by future interest rate rises is the responsible thing to do for borrowers, and […]