View more on these topics

&#39High street banks offer poor value for money&#39

Leading high-street banks are being accused of offering products which are

“appalling value for money”.

Which?, the magazine for the Consumers&#39 Association, analysed mortgage,

investment and insurance products offered by eight leading high-street

players and found they were all guilty of cross-selling poor- value

products across the range.

The report, which featured Abbey National, Barclays, First Direct, HSBC,

Lloyds TSB, NatWest, Royal Bank of Scotland and Nationwide Building

Society, concluded that all eight institutions were cross-selling products

which were leaving consumers out of pocket and in some cases “were nothing

short of a rip-off”.

The report found families could be wasting as much as £1,000 a year by

buying products from Barclays and NatWest rather than choosing products

from its best buys.

It awarded the wooden spoon for consistent mediocrity of products to

Barclays but says the other seven institutions featured “were not much


Which? editor Helen Parker says: “Our research proves that most big banks

offer appalling value for money.”



Tom Ross has had a busy time picking up new jobs this year.The Aon Consulting principal started in regal style by receiving an OBE atBuckingham Palace for services rendered to the industry.Soon after, he was crowned chairman of Scottish Life – the firm that gavehim his first job in finance, training him up as an […]

Derbyshire Building Society launches cash account

Derbyshire Building Society has launched a new card-based Cash Account.The account can be accessed through the Link network of ATMs.The account gives instant access has a minimum opening amount of £10 with a 1 per cent gross interest rate.

Jupiter to launch dividend and growth trust

Jupiter is to launch a dividend and growth split capital investment trust, sponsored by HSBC.The launch period is expected to be 7 October to 18 November 1999. The trust has a planned life of 6 years.The trust will be managed by Anthony Nutt who manages the Jupiter Extra Income Trust and the Jupiter High Income […]

Offshore centres facing clampdown

Offshore financial centres are facing the prospect of sanctions unless they comply with minimum standards for regulation, transparency and co-operation with other jurisdictions according to the Financial Times.The move is being spearheaded by the Financial Stability Forum, a body set up this year, bringing together finance ministries, central banks and financial supervisors.The forum is currently […]


Case study: administration — implementing a management log

Our client is a leading video game and publishing company best known for its console role-playing game franchises. The client provides a number of benefits, at varying levels and cost that attract a P11d liability. With the absence of a management log to track data for benefit movements, enormous administrative and therefore cost implications were occurring each year just to comply with P11d reporting requirements.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers. Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm