Banks giving wrong advice to customers on Isa transfers

clock

Some of the UK's biggest high street banks are failing to give the right advice to customers on transferring and managing their cash Isas, according to the results of a 'mystery shopping' exercise.

An investigation by Which? has found that staff at many of Britain's most prominent banks and building societies are not equipped with basic knowledge about the savings products, the Daily Mail reports. The consumer group placed 180 calls to 15 banks and building societies asking three questions about Isas.  HSBC, Yorkshire Bank and Royal Bank of Scotland (RBS) scored the worst, with HSBC staff answering correctly just 33 per cent of the time. Survey: Which? called 15 banks and building societies asking three questions about Isa transfers and limits. National Savings & Investmen...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Beyond the 60/40: Why the traditional portfolio blueprint is being tested again

Beyond the 60/40: Why the traditional portfolio blueprint is being tested again

'Bonds should not be doing all the defensive work'

Will Dickson
clock 09 July 2026 • 4 min read
SEI to launch two LTAFs in private markets 'expansion'

SEI to launch two LTAFs in private markets 'expansion'

‘Mansion House ambition’

Cristian Angeloni
clock 03 July 2026 • 1 min read
Darius McDermott: Building a resilient portfolio in a concentrated market

Darius McDermott: Building a resilient portfolio in a concentrated market

'A well-balanced portfolio should also take in the broadest possible range of growth opportunities'

Darius McDermott
clock 01 July 2026 • 5 min read