Three quarters of financial firms are already using Artificial Intelligence, according to the Bank of England and the Financial Conduct Authority, with more set to follow in future.

Last month a new inquiry by the Treasury Committee began looking into the potential impacts of AI in banking, pensions and other financial services.

So what does that all mean for your money? We speak to the experts about how it's being used, the rise of the chat bot and how to spot AI scams after one woman lost £10,000 to fraudsters.

Joining Felicity Hannah this week are Gbenga Ibikunle, Professor and Chair of Finance of Edinburgh University and Jana Mackintosh, Managing Director for Payments and Innovation at UK Finance.

Presenter: Felicity Hannah

(This episode was first broadcast at 3pm on Radio 4 on the 18th of June 2025)

We'll discuss proposals to reform the bailiff industry, hearing from a man whose small parking fine ballooned into a debt of more than £400 once bailiffs got involved. Paul Lewis interviews the minister responsible for the planned changes: will they be fair on both creditors and debtors and will they bring rogue bailiffs into line?

Also, the Chancellor's changes to the Winter Fuel Payment have been broadly welcomed by Britain's pensioners, but how easy will it be for them to manage the payment when it comes to filling in their tax returns? With the help of a personal tax expert, we try to answer your questions.

And what are Premium Bonds and what are your chances of winning a prize? We've got the definitive guide with Sir David Spiegelhalter, Emeritus Professor of Statistics at the University of Cambridge.

Presenter: Paul Lewis

(First broadcast 12pm Saturday 14th June 2025)

New research, seen exclusively by Money Box, suggests a third of households in England and Wales are trying to cut the amount of water they use to help reduce their bills. The research comes from the Personal Finance Research Centre at the University of Bristol which worked with the Financial Fairness Trust to speak to 6,000 households about their money situation. On water bills, 34% said they're using less to try to cut their bills with around 30% saying their bills have increased "a lot" over the past 6 months. What can people do to bring their bills down?

Some major mortgage lenders have been relaxing their lending rules to make it easier for people to borrow the money to buy a home. They have been encouraged by a letter from the regulator, the Financial Conduct Authority, which reminded them that they had flexibility around what is called the stress test, which is supposed to ensure borrowers can meet their monthly payments even if rates rise or their circumstances change. What does that mean for the risks around lending?

The listeners puzzled by a 25p rise in their state pension because of a rule that started back in 1971.

And, how much do you know when it comes to savings? If you don't know your Premium Bonds from your ISA and where to put your money to make the most out of your cash, we'll give you a little bit of help.

Presenter: Paul Lewis

(First broadcast 12pm Saturday 7th June 2025)

Hundreds of millions of pounds was stolen from people in 2024 by thieves who tricked them, manipulated them, and then drained their bank accounts. The latest figures from UK Finance show that more than £450m was handed over to criminals in that way. That was slightly less than in 2023 but there were fewer cases - down 20% to just under 186,000. So those who were robbed lost more - an average of more than £2,400. What kind of scams were most common and what can you do to avoid them?

There have been several high profile cyber attacks on businesses recently. But apart from downed deliveries and empty shelves, what impact can they have on other areas of a business that weren’t directly attacked?

Major changes to the laws about making a will have been proposed to the government by the Law Commission. Its job is to recommend changes in the laws in England and Wales to improve or simplify them.

And what should people do if they think they’re owed compensation by their energy company following the prepayment meter scandal?

Presenter: Paul Lewis

(First broadcast at 12pm on Saturday 31st May, 2025)

Hundreds and thousands of sole traders and landlords are facing a significant change in how they file their tax returns. In less than a year 800,000 people with a turnover of above £50,000 who fill out self assessment tax returns will have to fill out summaries four times a year, and then do their final self assessment too. It's all part of something called "Making Tax Digital". Paul Lewis interviews James Murray who is the Exchequer Secretary to the Treasury.

Hundreds of millions of pounds has been paid out to people who were underpaid their state pensions. We'll discuss who they are, and talk about another group of people who could be eligible but haven't claimed.

And, listeners who volunteer with community groups like film clubs, girl guides and charity fundraising groups have been contacting Money Box upset over new charges they're facing to use their bank accounts. What options are there for those affected?

Presenter: Paul Lewis

(First broadcast 12pm Saturday 24th May 2025)

The fight against what is called push payment fraud - when victims are groomed and manipulated into transferring money to criminals - took a huge step forward in October when new regulations for banks and other finance companies were introduced to make the banks involved liable for the losses. It was the result of years of campaigning which Money Box has reported on from the very beginning. Now the first set of figures since then shows it is working better, but still not perfect. We'll hear from David Geale the Chief Executive of the Payment Systems Regulator.

This week, some of Britain's biggest pension funds have pledged to invest more of the money they look after into UK assets. Seventeen major workplace pension providers have signed the Mansion House Accord, a voluntary initiative which commits them to invest at least 10% of the pension funds into what it calls 'private markets' with half of that invested in the UK. The Treasury says this commitment will drive more investment into infrastructure and businesses, while driving higher returns for savers and reducing risk through diversified asset holdings. We'll speak to the Chief Executive of The People's Pension which is the UK's largest workplace pension fund.

If you get child benefit for a child aged 16 or over it will stop on 31 August unless you tell HMRC to continue paying it. What do you need to know?

And are we becoming too reliant on digital banking when we should all have some cash for emergencies?

Presenter: Paul Lewis

(First broadcast 12pm Saturday 17th May 2025)

Earlier this spring the Financial Conduct Authority warned that some banks and firms lack empathy when dealing with bereaved customers and called for them to do more.

Money Box Live received a huge response from our listeners when we covered the story, with emails from listeners about how they coped with their grief while managing finances following the death of a loved one.

Felicity Hannah is joined by lawyer Gary Rycroft and Sarah Middlemiss, from the end of life charity Marie Curie, to answer those questions and hear those experiences.

Presenter: Felicity Hannah

(This episode was first broadcast at 3pm on Radio 4 on the 14th of May 2025)

Around 1 in 2 people living in the UK will be diagnosed with cancer during their lifetime according to Cancer Research UK. That stark statistic is a reminder how the disease can impact families up and down the country, but it's not just the health of people diagnosed that can forever be changed. The finances of those who survive the disease can also be devastating too. We'll hear from a man recovering from a cancer diagnosis about how it impacted his life, and speak to a charity that is calling for better financial support for cancer survivors.

As the Bank of England cuts interest rates to 4.25%, we’ll discuss what the best deals are at the moment. Data shows that while some lenders are offering deals at less than 4%, you’d need a big deposit and have to pay a fee, so what is out there and who can get it?

And investment platforms should be required to pass on voting rights to shareholders. That's the call from the trade body, the Association of Investment Companies. If you buy a share in a company you have the right to vote on corporate decisions. At the moment, some investment platforms pass on the right to vote, others require you to opt-in, some don't pass on the rights at all and some even charge to do it. The AIC wants that to change so that all platforms are required to pass on the rights, which would require a change in the law. In response, the Personal Investment Management and Financial Advice Association says a wholesale change to regulation to force this issue could result in significant costs to firms and an overwhelming level of paperwork for customers.

Presenter: Paul Lewis

(First broadcast on Radio 4 at 12pm on Saturday 10th May 2025)

If your home isn't working for you, should you pack up and move or get the builders in and improve?

Moving is expensive, aside from the price of the house there's Stamp Duty and solicitors fees to think about. So, is it worth getting the builders in instead if you're desperate for an extra bedroom? Insurance firm Aviva predicts 7 million of us will renovate over the next two years, spending an average of £14,000 each.

But what happens if the renovations go wrong, you run out of money, or you're hoping to move but no-one wants to buy your home?

Felicity Hannah is joined by Beth Rudolf from the Conveyancing Association and Harvey Fremlin, Managing Director at The National Self Build & Renovation Centre.

Presenter: Felicity Hannah

(This episode was first broadcast at 3pm on Radio 4 on the 7th of May 2025)

People over the age of 60 hold nearly £3 trillion of wealth in the value of their homes, almost all of it mortgage free. That is more than half of all housing wealth in the UK. Under 35s by contrast control only £600 billion and half of that is mortgaged. These startling figures were published recently by the upmarket estate agent Savills which has analysed housing data in Britain for many years. It says this disparity between young and old has never been bigger.

MPs, charities and free debt advice providers are calling for an urgent change in the law to help protect the finances of thousands of domestic abuse survivors. At the moment people, mainly women, who are left in debt after fleeing abusive relationships normally have to have their names and addresses published as part of the process of getting that debt written off. Something campaigners say not only puts their personal safety at risk, but can also put them off addressing financial problems altogether. The government has said its currently reviewing this matter and will update in due course.

And, annuities are a safe, regular income in retirement. You can use your pension fund to buy one and a growing number of people are doing just that. Sales of annuities have seen an 83% increase since 2020, based on figures from the Association of British Insurers. We'll discuss what's behind that rise.

Presenter: Paul Lewis

(This programme was first broadcast at 12pm Saturday 3rd May 2025)