FCA launches study of cash savings market

clock •

The Financial Conduct Authority (FCA) is launching a study of the cash savings market, examining how accounts are sold and obstacles to switching among other aspects.

More than four-fifths of adults in the UK with cash holdings in the region of £1.2trn have a savings account, according to the regulator. Its study will assess whether competition in the market is working well for consumers, while customer behaviour will also come under the spotlight. The FCA is particularly interested in why there appear to be low switching rates and whether information available to new and existing customers allows them to make informed choices. The FCA will also look into how complex products are and how well consumers understand them. Additionally, the regulato...

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 Regulation

FCA secures money back for victims of £1.5m crypto fraud

FCA secures money back for victims of £1.5m crypto fraud

Obtains confiscation orders against Raymondip Bedi and Patrick Mavanga

Sophia Panayi
clock 28 September 2026 • 1 min read
FOS partially upholds complaint against SJP for failing to provide annual reviews

FOS partially upholds complaint against SJP for failing to provide annual reviews

SJP failed to provide five annual reviews for client

Sophia Panayi
clock 23 September 2026 • 3 min read
FCA: Simplified advice rules update imminent; MPS review outcome set for 2027

FCA: Simplified advice rules update imminent; MPS review outcome set for 2027

Regulator's Kate Tuckley gives update

Isabel Baxter
clock 08 September 2026 • 3 min read