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With returns on cash at all time record lows and more people considering investing in stocks and shares, new Which? research reveals the majority of the public aren’t aware of the safeguards in place should the worst happen to their investments. The collapse of a financial firm is every investor’s worst nightmare, yet Which? has […]
As the deadline for submitting online tax returns looms, new Which? research reveals one in five people (19%) think they’ve lost out because they’ve made a mistake on their tax return, or haven’t understood the document. Last year, more than 10 million tax returns were submitted to HM Revenue and Customs (HMRC), but when Which? […]
As more retirees consider self-invested personal pensions (Sipps), which offer a pension with wide investment choice and the flexibility to take income, new Which? research finds charges can vary hugely and cost retirees thousands of pounds. In the wake of pension freedoms, Sipps are shifting toward the mainstream and are used by more savers who […]
Which? research finds that high street banks have closed more than 1,000 branches across the UK in the past two years as customers go online and banking services are offered at Post Offices. As the Griggs report finds that banks could do more to support local communities when they shut branches, new Which? research […]
Vickie Sheriff, Which? Director of Campaigns and Communications, said: “Which? has long highlighted the fact that punitive unarranged overdraft fees can be more expensive than some payday loans. The Financial Conduct Authority must now use this review to tackle these high charges, which are often faced by the most vulnerable customers.” Background In July […]
Alex Neill, Managing Director of Which? Home & Legal Services, said: “This is a welcome first step, but is not a cure and won’t be enough to protect people from bank transfer scams. Many people will be surprised that banks don’t already do things like check that the payee name matches the account number. “With […]
In just two weeks since Which? launched its online scams reporting tool, more than 650 people have told us about losing over £5.5 million to bank transfer scams. Which? is submitting stories from victims of scams to the Payment Systems Regulator as evidence in its super-complaint into bank transfer fraud. UK consumers now make over […]
Vickie Sheriff, Which? Director of Campaigns and Communications, said: “Pension scams are a worrying problem and are costing savers millions of pounds. Should the Chancellor announce plans to crackdown on pensions cold calling it would be a victory against criminals who will always find ways to try to target even the savviest people. “No legitimate […]
Peter Vicary-Smith, Which? Chief Executive, said: “Access to the services necessary to make every day banking possible should be simple and straightforward. Banks can and must do a better job of working with their customers to understand their needs and those of the local community, especially when they are making changes to the services they […]
New Which? research finds that high charges and hidden costs are eroding pension pots by as much as a third of their value. At a time when auto-enrolment means many people are becoming pension investors for the first time, Which? has found expensive fund charges and hidden costs that are not being disclosed by pension […]