Banks hand out 'shockingly poor' advice on tax-free ISAs to investors

http://goo.gl/tbmQc
<quote> BANKS and building societies have been criticised for offering "shockingly poor" information on financial products to savers.
Consumer watchdog Which? Money conducted an undercover "mystery shopper" investigation on the quality of advice 13 of the main UK providers delivered to customers transferring a tax-free ISA savings account.
The findings, released today reveal only three out of 104 calls resulted in correct answers to four simple questions about the transfer rules on ISA cash transfers.
The group warned inaccurate information meant customers could lose interest on the tax-free savings accounts, which are held by a third of adults. The investigation found 97 per cent of advisers gave conflicting and incorrect information about how much money consumers could transfer from one ISA to another, and 43 per cent were unaware money could be moved from a cash ISA into a stocks and shares model. </quote>
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Big Brother is watching ... so are we

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I go into my local branch of N*t**nW*d* and have always been given correct information whether there or on their website.
The only criticism I have is that the "smart suits" are rather bored and disinterested if I just want to swap my 1yr fixed rate ISA into another when the bonus rate is about to be removed. ;-)
Same goes for my Easy Access ISA, and there was a similar attitude when I escorted a lady friend to the Halifax, where she went to do the same, on my advice.
There's no new business in it for them, and they don't expect old gits like us to be pro-active. The merry-go-round will be starting again next month or so, but I'm waiting for the long-overdue increase in Bank rate.
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Gordon H
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In fact, Nationwide came overall top in the Which survey, according to today's Telegraph,
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Gordon H
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