The Competition and Markets Authority (CMA) is launching an investigation into the competitiveness of the personal current accounts market. So what’s the shake up about?
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The government has shared its plans for banking reform, following its much anticipated report into banking culture. But will the Chancellor’s reforms make sure banks work for customers, not bankers?
George Osborne has officially branded 2013 ‘the year of change in our banking system’ in his speech launching the Banking Reform Bill. But do the reforms really go far enough?
Many banks have promised to focus on their customer services over sales. So we surveyed more than 500 front-line bank staff to find out if the pressure to sell still pervades the culture in the big five banks.
The banking industry needs to make a Big Change if it’s going to regain your trust. To highlight the depth of the problem, I’ve rounded up some of your comments and suggestions on Britain’s broken banking.
Picture this. You walk into a fast food restaurant, ask for a tasty burger to sate your appetite, and the assistant asks you if you want fries with that? Upselling like this is pretty harmless, until it’s done badly by your bank.
In this guest post for Which? Conversation, Pat McFadden MP explains how the government has tasked the Parliamentary Commission on Banking Standards to investigate the state of British banking…
Consumer trust has all but gone from the banking industry as our research shows you’d put estate agents, builders and accountants above bankers in terms of trust. What can the banks do to regain your trust?
The government will today respond to the Independent Commission on Banking’s (ICB) recommendations to reform the banks. It’s a once in a lifetime opportunity, but banks shouldn’t wait to treat their customers well.
Would you prefer banks didn’t intertwine ‘your’ money with risky investment banking activity? We think your money should be protected, and today the government backed our idea.
Last night we sat down with consumers as they shared their views on banking. One comment got a huge round of applause. Was it ‘scrap bankers’ bonuses’, ‘give us £100 to switch accounts’ or something else?
The voice of consumers in banking reform isn’t always as loud as it could be – maybe because the invite to join in isn’t clear or the discussions get a bit techy? We’re notching up the volume so you can tell us here.
The banks want to dictate how they are to be reformed. That’s like a convicted criminal wanting to impose his own punishment. They might not like tough reforms, but would we get anywhere if we took a soft approach?
How does your bank rate for customer service and quality of financial advice? If its services are leaving a little to be desired, speak up now and we’ll feed your thoughts back to the FSA.