Banks giving wrong advice to customers on Isa transfers

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Some of the UK's biggest high street banks are failing to give the right advice to customers on transferring and managing their cash Isas, according to the results of a 'mystery shopping' exercise.

An investigation by Which? has found that staff at many of Britain's most prominent banks and building societies are not equipped with basic knowledge about the savings products, the Daily Mail reports. The consumer group placed 180 calls to 15 banks and building societies asking three questions about Isas.  HSBC, Yorkshire Bank and Royal Bank of Scotland (RBS) scored the worst, with HSBC staff answering correctly just 33 per cent of the time. Survey: Which? called 15 banks and building societies asking three questions about Isa transfers and limits. National Savings & Investmen...

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