Banks to review will-writing services

Banks need to let customers know that appointing an executor is not necessary when writing a will. Consumers are spending extra on executors and failing to shop around. Four high street banks will review the way they sell will-writing and executor services following the Office of Fair Trading's (OFT) concerns that consumers do not fully understand the process. Royal Bank of Scotland, HSBC, Barclays Bank and Lloyds Banking Group will improve their practices after the OFT found that some customer were appointing professional executors without recognising the alternative options available and the expense that would be involved.