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A crackdown on incentivised selling

FSA managing director Martin Wheatley
BBC Radio 4's Money Box
Saturday, 8th September 2012 at 1204 BST On Radio 4 and Online

When you pop into a branch of your bank do you hate the way they always try to sell you things as well?

If so you are not alone. The man who will soon be in charge of the new watchdog the Financial Conduct Authority hates it too.

In a speech this week Martin Wheatley, said that paying bonuses to staff for sales makes them sell us things we do not need. Martin Wheatley's remarks followed a survey of 22 banks, building societies, insurance and investment firms.

Paul Lewis asks him whether he would end these sales bonuses.

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Santander U-turn on end of free banking

More than 200,000 small business customers of Santander will continue to get free banking after the bank did a U-turn on a plan to charge them at least £90 a year.

Over the last few weeks the bank had written to its small business customers telling them that in future the 'free forever' accounts would cost them either £7.50 or £12.50 a month. Bob Howard reports:

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Do firms really honour price guarantees?

Lots of firms offer to match the price of a product or service of a competitor or pay you the difference but how easy is it to actually hold them to that promise?

One Money Box listener thought he had a strong case for getting back the price difference for work carried on his car out by Halfords. But he found getting the company to accept his claim was no easy matter.

Bob Howard reports and Paul Lewis talks to Vena Raffle , Head of Investigations at the Advertising Standards Authority

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Tackling the claims management companies that cold call

Cold calls and out-of-the-blue texts offering services you neither want nor need are a bane of modern life. Some claims management companies are amongst the worst culprits.

Paul talks to Steve Eckersley, Head of Enforcement at The Information Commissioner, to ask what he is doing to stop them.

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Expiring loyalty points

Do you get points when you spend money on your credit card? If you do and you're saving them up for some expensive treat beware - points may not mean prizes.

In fact points can expire quicker than the parrot you are hoping to buy with them.

Rachel Springall from the comparison site tells Paul the ins and outs.

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BBC Radio 4's Money Box is broadcast on Saturday at 1204 BST.

Money Box



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