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People aged between 20 and 39 are the most likely to have reported being scammed in the past year, Which? research reveals, with many young victims losing huge sums of money to online shopping scams, pyramid schemes and rental fraud. Which?’s analysis found that between November 2020 and December 2021, individual victims lodged a total […]
Jenny Ross, Which? Money Editor, said: “There has been an alarming number of bank branch closures in recent years, and many consumers who rely on banks to access cash for everyday essentials and face-to-face services will be concerned about what these latest closures mean for them. “While many consumers now choose to bank digitally, millions […]
Jenny Ross, Which? Money Editor, said: “While the pandemic has accelerated the shift to digital payments, millions of people still rely on cash to pay for everyday essentials and are not yet ready or able to make the switch. That is why it is vital for access to cash to be protected. “It’s been two […]
Jenny Ross, Which? Money Editor, said: “The UK’s bank branch network has seen significant reductions in recent years, and many customers who rely on branches to access cash for everyday essentials and face-to-face services will be concerned about what local closures mean for them. “While many people now choose to bank digitally, others – including […]
Common car insurance loopholes could leave drivers in the lurch if something goes wrong, Which? research reveals, with gaps in cover for personal belongings, often toothless legal expenses cover and surprising exclusions for courtesy cars. Car problems can be financially disastrous if you are on a low income, or have limited savings, especially if you […]
Jenny Ross, Which? Money Editor, said: “The alarming rate of bank branch and ATM closures has left many people who depend on them for cash services at risk of being excluded, and banking hubs could provide a crucial piece of the puzzle to ensure local access to cash is maintained. A wide range of initiatives […]
Which? warns that the power of attorney system is in desperate need of improvement, as new research finds widespread confusion about how the process works and banks often causing avoidable problems for people registering as attorneys. Lasting Power of Attorney (LPA) is a legal document where one person gives another the power to make financial […]
Jenny Ross, Which? Money Editor, said: “It is shocking that some victims of financially and emotionally devastating crimes like bank transfer fraud have been left in limbo for years. It is vital that the ombudsman makes good on this pledge to clear the backlog of cases quickly and fairly. “The huge rise in push payment […]
Jenny Ross, Which? Money Editor, said: “Buy now, pay later (BNPL) services offer ease and convenience for many shoppers, but our research has found that many people use these schemes without realising they are taking on debt. “With the cost of living rising, appropriate affordability checks are needed to prevent people from building up debts […]
Four in 10 current account holders have been with the same bank for more than 20 years, new Which? research reveals, despite challenger banks outperforming traditional high street banks in the consumer champion’s current account survey. Which? surveyed more than 4,400 members of the public on their opinions of their current account providers, and found […]