Can you trust your bank? Lessons from BBC’s Panorama program

Monday night’s Panorama program looked at whether the consumer can trust their bank. In particular it focused on the quality of financial advice offered by some of the major high street banks. Mystery shoppers looking to invest a lump sum of money were sent in to a range of banks; the results were mixed to say the least. Some banks such as the Co-Operative were praised by the program; others however did not fare so well. A number of advisers came in for particular criticism especially when assessing a customer’s attitude to risk and explaining charges. Others were accused of putting undue ...