Can your bank really close your current account with a small warning? The This Is Money podcast
Banks have been in the firing line this week due to current account closures and slowness to pass on base rate hikes to savers.
Nigel Farage claims his bank has closed its current account over his Brexit views – the former politician has spoken out on Twitter about his treatment at the hands of Coutts, while the exclusive bank with a high net worth client base has fired back.
So, can banks realistically do that to you? Georgie Frost, Simon Lambert and Lee Boyce tell you all the reasons why your bank could cut off your power – and what to do if it happens to you.
And on the same day the bosses of the big banks faced a scolding from the FCA over paying depositors fairly, Lloyds, Halifax and HSBC rate hikes – coincidence?
Savings deals have skyrocketed in recent months, experts give their opinion on whether we are at a peak – or whether there is still a lot to be gained for savers.
With the savings rate rising, many are questioning whether they should even bother to invest – one think tank believes the British are putting way too much into money rather than investing. How do the numbers stack up?
And finally… would you collapse for your partner’s pension? A partner can collapse the partner’s pension while they are not working to ensure that they do not miss out financially later in life, but is that a wise move?