I’ve been hunting through the Which? magazine archives to see how long banks have been charging confusing and unfair fees. My search spanned nearly 50 years of magazines and uncovered some eye-opening findings…
Posts tagged with "big-change"
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?
Five years on from the start of the credit crunch, almost three-quarters of people don’t think that the banks have learnt their lesson and only one in ten believe that bankers act in our best interests.
I’m sure we can all recall the dilemma of the 1990s when we wanted to get a better phone deal without losing our phone number. There are now plenty of ways to get around this issue, so why can’t banks do the same?
Despite high hopes for Marks & Spencer’s entry to the banking arena, I can’t help but feel that the terms of its current account are seriously underwhelming. Are you tempted by the extras offered by M&S’s account?
Some of the banks have suggested that the way to avoid future banking scandals is to let them charge for current accounts. It’s time to shatter the myth of ‘free’ banking.
Do you remember life ‘PFC’ – that’s pre-financial crisis. If we asked a producer to plot a script for how the financial crisis would unravel I don’t think in my wildest dreams it would lead us to where we are today.
Here we go again… Nationwide is the latest financial brand to trip up after it revealed today that a number of its current account customers have been debited twice for some transactions.
We think the concept of ‘free’ banking in the UK is a myth as we’re often stung with charges we’re not expecting. Hidden, unfair or excessive, the banks can have a habit of sneaking in additional costs.
This week, Barclays was found to be manipulating lending rates and NatWest, Ulster Bank and Royal Bank of Scotland customers suffered as a result of technical glitches. But has this affected our trust in the banks?