Which? response to FCA proposals on temporary financial relief for customers impacted by coronavirus

Gareth Shaw, Head of Money at Which?, said:

“This wide-ranging package of support should provide relief to many who are concerned about the impact of this crisis on their personal finances, and it’s crucial that banks rise to the challenge of providing immediate support to all customers who need it.

“The sensible changes to overdraft rules will provide much-needed breathing space, and ensuring that credit files are not damaged for people who have asked for help is the right step – and banks must act quickly so that these customers are not penalised for missed payments.

“Once these measures are introduced, we urge anyone who is struggling to contact their bank to see what assistance it can provide. If you can, do so online so that telephone and branch services can be accessed by those who need them most.”

Notes

· Which? is a non-profit organisation working to make life simpler, fairer and safer for consumers. During the coronavirus crisis, Which? is making a range of news, advice and guides available for free for anyone who needs it at https://www.which.co.uk/news/coronavirus/

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