Tag: Which?

Consumers can reclaim mis-sold PPI for free

Consumers can reclaim mis-sold PPI for free

Consumer groups are encouraging victims of PPI mis-selling to claim their money back themselves, without the help of a claims management company. An intensive ‘no win no fee’ advertising campaign is tempting many companies to turn to claims management companies to reclaim PPI. moneysavingexpert.com and Which? have now joined forces in an advertising campaign of [...]

April 19, 2012 | 0 Comments More
Which? highlights unnecessary insurance costs

Which? highlights unnecessary insurance costs

According to two separate reports by consumer champion Which?, insurance customers are facing unnecessary costs. Which? has found that 10 out of the 12 largest water companies are promoting pipe insurance from third parties such as Homeserve. This insurance costs consumers more than £100m in total and in many cases it is unnecessary Which? claims. [...]

April 18, 2012 | 0 Comments More
Which? criticises insurance comparison sites

Which? criticises insurance comparison sites

Consumer group Which? claims that price comparison sites may not always find the best insurance deals for consumers. More and more people are turning to price comparison sites such as GoCompare.com , Confused.com and MoneySupermarket.com to help reduce their outgoings, but a report by Which? suggests that consumers can find better deals by contacting an [...]

March 26, 2012 | 0 Comments More
Saga sees financial green shoots for over-50s

Saga sees financial green shoots for over-50s

Saga’s latest quarterly report is slightly more optimistic about the financial health of the over 50s than its report for the final quarter of 2011, but the organisation warns that the “green shoots” of recovery are very tentative at the moment. Compared with a year ago, the report suggests that the quality of life for [...]

Which? calls for action on overdraft charges

Which? calls for action on overdraft charges

Consumer group Which? is calling for unfair overdraft charges to be stopped after finding that charges are too complicated and impossible to compare. Which? asked a number of volunteers to calculate how much an unauthorised overdraft would cost at RBS-NatWest, HSBC/First Direct, Lloyds, Barclays, Halifax, Nationwide and Santander. The volunteers, who included a maths PHD [...]

Accountant fails energy bill test

Accountant fails energy bill test

Energy tariffs are so complicated that even an accountant could not calculate how much they should be paying, according to latest research from Which?. The consumer group asked 36 people including a solicitor, an engineer and an accountant, to work out their domestic energy bill using only the information from the supplier’s website, and a [...]

SVR mortgage holders will suffer when interest rates rise

SVR mortgage holders will suffer when interest rates rise

Consumer group Which? has warned homeowners with SVR mortgages that they will be financially squeezed once interest rates are lifted. A Standard Variable Rate (SVR) is a mortgage in which the rate of interest is varied from time to time by the lender but it is usually set at about 2% above the Bank of [...]

OFT to launch investigation into card surcharges

OFT to launch investigation into card surcharges

Consumer group Which? is concerned about surcharges imposed on to consumers who pay by debit or credit cards. It has therefore asked the Office of Fair Trading (OFT) to investigate the matter - which sees retailers, local authorities, estate agents and cinemas all impose the charges. However, the “worst offenders” are said to be budget [...]

Which? report concludes savers losing billions in interest

Which? report concludes savers losing billions in interest

Savers are missing out on billions of pounds in interest payments, according to a report by consumer group, Which? According to the report, by leaving money in low interest accounts, savers are missing out on a possible £12 billion. According to the consumer association, interest rates are not made clear to consumers on their bank [...]

Consumers missing out on competitive online finance products

Consumers missing out on competitive online finance products

According to consumer group Which?, people without internet access are missing out on competitive rates for online financial products. A report by the group said, on average, online savers earned 37% more interest than those who only had branch-based accounts. Which? said branch-based instant access accounts paid 0.65% a year on average versus 1.14% for [...]

Banks hide rate cuts from savers

Banks hide rate cuts from savers

Banks are keeping their customers in the dark about interest rate changes on their accounts, new research has found. The study by Which? Money found most banks rely on newspaper adverts or customers popping into their local branch to keep savers informed of rate cuts Only four of the twelve banks investigated guaranteed to keep [...]

Lloyds TSB reduces overdraft charges

Lloyds TSB reduces overdraft charges

From 2 December, Lloyds TSB will reduce the overdraft fees on its current accounts. The move comes just a month after the new coalition Government said it would introduce measures that will see an end to “unfair” bank charges, as well as excessive interest rates on credit cards. The banking industry was successful in a [...]

Travel agents sell rip-off insurance

Travel agents sell rip-off insurance

Travel agents are selling rip-off travel insurance policies to British holidaymakers, Which? has claimed. An undercover investigation by the consumer advice group found travel agents selling policies worth just £20 for up to £80.99. Over half of the travel agents visited (17 out of 29) failed to provide basic details of the insurance policies they [...]

Noisy neighbours plague three million Brits

Noisy neighbours plague three million Brits

Which? has been examining the problem of noisy neighbours and claims that at least three million UK adults are badly affected by decibels emanating from next door. According to research by the consumer group, loud voices and arguments proved a source of aggravation to 58% of respondents, followed by playing music or watching the television [...]

FSA delays PPI reforms

FSA delays PPI reforms

The Financial Services Authority (FSA), has announced a delay on its plans to reform the Payment Protection Insurance (PPI) market. The City Watchdog said its consultation will be delayed by six weeks due to a heavy amount of criticism from the financial industry. Under a PPI policy, an agreed sum of money is paid out [...]

Beware the TV gold scammers, warns Which?

Beware the TV gold scammers, warns Which?

TV adverts offering people the chance to sell their unwanted gold by post are paying “shockingly low rates”, an investigation by consumer advice group Which? has found. Cash-for-gold firms advertising on TV pay an average of just 6% the new retail value of gold, Which? discovered. CashMyGold gave the lowest quote of all, offering £6.43 [...]

Banks’ should focus on rebuilding trust

Banks’ should focus on rebuilding trust

Scrooge retailers pocket charity Christmas card profits

Scrooge retailers pocket charity Christmas card profits

As little as 6% of the cover price of charity Christmas cards sold by high street retailers is passed on to the charity they allege to support, an investigation has uncovered. Charities earn an estimated £50 million per year from Christmas card sales, with charity cards sold by mainstream retailers making a significant contribution to [...]

Which? opposes abolition of cheques

Which? opposes abolition of cheques

Plans by the banks to phase out cheque books could prove disastrous for the Brits who rely on cheques to make day-to-day payments, consumer rights group Which? has claimed. “The fact is a lot of people still rely on cheques, especially people who are housebound or for some people it’s the only way they feel [...]