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Which? has uncovered worrying flaws in online banking security systems that could leave customers exposed to fraud, with some banks failing to use the latest protections for their websites and allowing users to set insecure passwords. With cases of internet banking fraud up 97 per cent in the first half of 2021, the consumer champion […]
Which? is calling for stronger safeguards to stop online shoppers from choosing Buy Now Pay Later to pay for products without knowing the risks, as new research from the consumer champion reveals many people do not think that they are taking on debt when using this payment method. Buy Now Pay Later (BNPL) has soared […]
Jenny Ross, Which? Money Editor, said: “These worrying findings reflect Which?’s previous research, which has shown that women face big disparities compared to men when it comes to saving for retirement, with mothers particularly at risk of retiring with smaller pension pots. “To help address this pension gender gap, Which? recommends that the government should […]
A Which? survey reveals the most convincing insurance myths that risk misleading consumers, with most people struggling to unpick fact from fiction. The consumer champion questioned more than 2,000 members of the public on their insurance knowledge, asking them to answer true or false on eight statements. Their responses revealed people commonly believe insurance myths […]
Banks are still leaving customers exposed when it comes to bank transfer scams, five months after the Payment Systems Regulator (PSR) found evidence that they could be doing more. According to research by Which?, people are still losing money and the consumer group warns it has not yet seen enough evidence that the industry is […]
Which? reveals that if you’re looking to secure an annual household income of £26,000 in retirement you need to be saving £131 a month from the age of 20 and as much as £633 per month if you leave your retirement saving till your 50th birthday. At a time when auto-enrolment means that many more […]
Vickie Sheriff, Which? Director of Campaigns and Communications, said: “It’s been clear for years that the banks should be working much harder to resolve PPI claims fairly. The current process has been wholly inadequate and driven too many consumers to use claims management companies. Now the regulator has confirmed a deadline for the victims of […]
Vickie Sheriff, Which? Director of Campaigns and Communications, said: “Which? has repeatedly found that people with a financial shortfall can be charged much more by the big high street banks for using an unarranged overdraft than they would by a payday loan company. The Financial Conduct Authority must use its review of high-cost short-term credit […]
Which? is calling for the regulator to act on unarranged overdraft fees after new research finds charges from big high street banks could cost up to 180% of the amount borrowed. Which? research finds that consumers needing as little as £100 could be charged up to £156 more by some major high street banks than […]
Vickie Sheriff, Which? Director of Campaigns and Communications, said: “Which? research has shown that punitive unarranged overdraft fees can be more expensive than some payday loans, and today’s announcement simply allows banks to continue to set their own level of exorbitant fees. The Financial Conduct Authority must now use its review of high-cost short-term credit […]