Results for Banks tag

Which? executive director, Richard Lloyd said: “It is clear from today’s low switching figures that the big banks’ stranglehold on the market continues and that quicker switching alone will not solve the lack of competition or trust in banking.  “The Competition and Markets Authority must expose what’s at the heart of the problems in this market and […]

Which? executive director, Richard Lloyd said: “Proper protection for temporary high balances is a welcome move that will give more people greater confidence in banking. We also want the scheme extended to cover individual brands, which people recognise, rather than banking license so that people are clearer as to when their savings are covered. “Bank staff must ensure they […]

First Direct once again tops the table for customer satisfaction however many of the big high street banks are still stuck near the bottom as a new Which? analysis reveals the best and worst financial companies. We asked more than 20,000 members of the public, in four independent surveys, how happy they are with their […]

Which? calls on the Financial Conduct Authority (FCA) to broaden its efforts to clean up the credit market, as our new report uncovers problems that are making it difficult for consumers to manage their borrowing and shop around. Despite an improving economy, UK consumers’ total unsecured debt remains considerable at £158 billion and new Which? […]

Ahead of the publication of a wide ranging Which? report on the state of the credit market, Which? calls on banks to Stop Sneaky Fees and Charges on unauthorised overdrafts, as more than two thirds of users say charges are too high or unfair. New Which? research reveals that around 2.5 million people, approximately the same number […]

Which? executive director Richard Lloyd said: “PPI is the UK’s biggest mis-selling scandal, with now more than £23 billion set aside by the banks.  “Banks need to make it as easy as possible for people to claim back the money they’re entitled to so they’re not encouraged to use unscrupulous claims management companies.” Notes to […]

Which? executive director Richard Lloyd said: “After successive banking scandals it’s right that the bank bonus rules are tightened. Bankers found breaking the rules – even years later – should be punished. “Tougher action by the regulators is vital if we are to see consumer trust restored and the culture of banking transformed.”

Which? executive director, Richard Lloyd said: “It’s only right that Lloyds pays the price for breaking the rules. Bonuses should be clawed back from the senior executives who presided over this scandal, rather than consumers being left to foot the entire bill. “The banking industry will continue to struggle to restore trust and will be […]

Which? launches a campaign to Stop Sneaky Fees and Charges on financial products, as our new research reveals that two thirds of consumers who have paid a fee agree companies use the charges to trick people. Almost half the population have paid a fee or charge on a financial product or service in the last […]

A new Which? investigation reveals how much consumers could be out of pocket by having the wrong current account because it’s impossible for them to work out the real cost of lost interest and overdraft charges. We looked at three months of current account statements from three consumers – someone who regularly uses an authorised […]