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Savers are being put off switching drawdown providers when they retire because of a dizzying array of charges and difficulties comparing costs, but those who do switch could save up to £12,300 over their retirement, according to new Which? Money research. The consumer champion analysed hundreds of different fees across 28 providers to find what […]
Gareth Shaw, Head of Money at Which?, said: “Pension savers should think very carefully when making decisions about accessing their money if they are concerned about the impact of the economic uncertainty on their finances. While pension freedoms have offered greater flexibility, they have also led to increased risks such as scams and poor value […]
Gareth Shaw, Head of Money at Which?, said: “It’s understandable that some shops may ask customers for card-only payments to reduce the risk of transmitting the coronavirus, but we are concerned this will leave many vulnerable people unable to pay for the basics they need. “Both the government and retailers need to find a way […]
Gareth Shaw, Head of Money at Which?, said: “Banks will be facing additional pressures as a result of the coronavirus pandemic, but delays to the introduction of this vital name-check security have already resulted in thousands of customers losing life-changing sums of money to bank transfer scams. “It’s therefore vital that if a directed bank […]
Gareth Shaw, Head of Money at Which?, said: “While it’s encouraging to see more fraud victims being reimbursed as a result of some banks applying the voluntary scams code, these figures suggest that many innocent people who have lost money through this type of crime are still not getting the protection they deserve. “The code […]
Which? is calling for the urgent introduction of a comprehensive pensions dashboard after an investigation exposed how the current system leaves workers struggling to track down and understand their retirement pots. The consumer champion challenged 12 volunteers to track down key pieces of information about each of their 38 pension schemes, to see what difficulties […]
Jenny Ross, Which? Money Editor, said: “The cash network has already been dramatically eroded, and unless urgent action is taken in the Budget, it’s clear that it will crumble completely. “Some industry-led initiatives are encouraging, but they cannot stem the tide of bank branch and cash machine closures alone, and without legislation many more communities […]
Jenny Ross, Which? Money Editor, said: “Millions of people are at risk of being cut off from the cash they need to pay for vital goods and services and while industry-led initiatives are encouraging, they are not enough to stem the tide of bank branch and cash machine closures in the long run. “Without urgent […]
Gareth Shaw, Which? Money Expert, said: “While LINK is claiming it wants to maintain free access to cash, we’re concerned about its ability to do so, not least when it is facing a clear threat from banks to leave the network. “LINK’s plans could still lead to a significant reduction in free-to-use ATMs across Britain, leaving […]
With just over a year and a half left to claim for mis-sold payment protection insurance (PPI), Which? is urging consumers to use its free tool to recoup some of the £38 billion they may be owed by the banks. As the total amount set aside by the big five banks – Lloyds, HSBC, RBS, […]