A new Which? investigation has revealed bank failures that could leave customers out of pocket.
We went to high street banks and building societies with a list of straightforward questions about Individual Savings Accounts (ISAs). The results were eye-opening
At the bottom of the table were Co-operative Bank and Yorkshire Bank, answering just 31% of our questions correctly. Even the best performer, TSB, only managed to get 64% of the questions right.
ISAs are supposed to be simple products, yet 85% of staff couldn’t correctly tell us the 2015/16 ISA limit (£15,240 in case you're wondering). We think it’s inexcusable for bank staff to have such a worrying lack of knowledge.
People deserve advice they can trust when it comes to their hard-earned savings.
If you agree, please join the 58,000 people who have already signed our Scrap the Savings Trap petition today.