July 07, 2023

Could your bank really close YOUR current account with little warning?

50 minutes

Banks have come into the firing line this week over current account closures and slowness to pass on base rate rises to savers.

Nigel Farage claims his bank shut his current account over his Brexit views – the former politician has been vocal on Twitter about his treatment by Coutts, while the exclusive bank with a high net wealth clientele has fired back.

So, can banks realistically do that to you? Georgie Frost, Simon Lambert and Lee Boyce tell you all the reasons your bank can close your current account – and what to do if it happen to you.

And on the same day big bank bosses faced a grilling from the FCA about paying savers fairly, Lloyds, Halifax and HSBC hike rates – coincidence?

Savings deals have been rocketing in recent months, experts give their views on whether we’re at a peak – or if there is further still to go for savers.

With savings rates rising, many are questioning whether to bother investing - one thinktank reckons Britons are ploughing far too much into cash instead of investing. How do the figures stack up?

And finally… would you pay into your partner’s pension? A spouse can pay into their partner's pension while they are not working to ensure they do not miss out financially in later life, but is it a wise move?

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Hosts: Georgie Frost, Simon Lambert, Lee Boyce, Helen Crane

Producer: Georgie Frost

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