Claims management inquiry and bank account switching

Money Box

BBC

Business

4.2 • 825 Ratings

🗓️ 6 June 2026

⏱️ 26 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Since lenders were ordered to repay billions to consumers who signed up to unfair car finance deals, millions of people have been sent adverts exhorting them to claim compensation through claims managers or law firms. But now the Financial Conduct Authority is to investigate the industry amid concerns of sharp practice and misleading marketing. Paul Lewis asks if the regulator has acted quickly enough to root out the rogue operators.

And we hear from the serial switchers - those tempted by cash perks to change their bank accounts. Is it worth it?

Presenter: Paul Lewis Reporters: Jo Krasner and Felicity Hannah Researcher: Catherine Lund Editor: Rob Cave Senior news editor: Sara Wadeson

Transcript

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0:00.0	BBC Sounds, music radio podcasts.
0:07.2	Things just swirling around my head.
0:09.6	Am I really the product of this?
0:12.1	Astonishing secrets uncovered by at-home DNA tests.
0:17.0	Little did I know what more was to come.
0:19.5	I'm Jenny Clemen, and in the new series of The Gift, we'll hear more stories emerging out of the ever-expanding global DNA database.
0:28.8	They did know that I was different.
0:31.7	You had kids together.
0:33.0	Yeah.
0:33.5	Then you met.
0:34.3	Then we met.
0:35.2	The Gift.
0:36.1	Listen on BBC Sounds.
0:39.3	Hello, welcome to this Moneybox podcast.
0:42.3	A switch in time can save, well, no, not nine, but up to £200.
0:47.8	A million of us switched our bank account last year, but why don't more of us do it when
0:51.9	tax-free cash is up for grabs?
0:54.6	And as the UK's favourite broadcaster joins more than 16,000 centenarians, will your money last
1:01.6	as long as you do?
1:03.5	But first, the Financial Conduct Authority is launching an inquiry into the claims management
1:08.9	industry.
1:10.1	These are firms which help people get compensation
	...

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