View more on these topics

Bank charges cause of most complaints

Bank charges are by far the single biggest cause of complaint among current account holders, according to research undertaken by Fleming Premier Banking.

The survey showed that 28 per cent of people said bank charges, including those levied for using cash machines, were what annoyed them most about their bank.

Next most annoying was long queues with 16 per cent, followed by junk mail on 10 per cent.

Fleming commercial director Andrew Lowe says: “An apparent preoccupation with making huge profits has perhaps diverted these banks&#39 attention from the imperative of providing high levels of service to their customers.”

Recommended

Royal & SunAlliance – Lifestyle Investment Bond

Thursday, 18th January 2001.Type: Unit-linked bond.Aim: Growth and income by investing in Royal & SunAlliance funds.Minimum investment: £10,000.Fund links: With-profits, deposit, European, FTSE all share, Japan growth, Pacific growth, income distribution I, income distribution II, equity, EuroTech, fixed interest, managed, property, UK smaller companies, cautious managed, equity income, Far East, international, North America, UK leader.Allocation […]

UK unit trusts down over 2000

UK unit trusts dropped on average by 3.29 per cent in 2000, according to fund information company Lipper. This was the first full year decline in mutual funds since 1994. UK focussed funds did not do as badly as many other regions due to smaller weightings in technology stocks. The UK equity income sector, the […]

Clerical Medical – With Profits Bond

Friday, 19th January 2001.Aim: Growth and income by investing in Clerical Medical&#39s with-profits fund.Minimum investment: £5,000.Bonus rates: 4.7 per cent.Allocation rates: 100 per cent.Charges: Annual 1.3 per cent.Commission: Either initial 5.25 per cent, initial 4.125 per cent renewal 0.25 per cent or initial 3 per cent renewal 0.5 per cent.Tel: 0800 779090. 

IFAs urge life offices to clear bonus &#39smoke&#39

IFAs and the Consumers&#39 Association are calling on life offices to make bonus declarations easier for policyholders to understand. The call comes amid accusations that many life offices use “smoke and mir rors” to blur their fall ing investment returns by using a variety of methods to calculate their rates. Many IFAs say the obscurity […]

Guarantees in the retirement income market

Lorna Blyth, Royal London  Do guarantees benefit customers and, if so, when? To answer this conundrum we commissioned Millimans, a global actuarial consulting firm, to conduct an independent review of the UK retirement income market and whether guarantees really do offer customers better value for money. The brief The study was one of the most comprehensive undertaken […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment