Banks agree to improve Wills services for customers

Posted 23/02/2011

Banks have agreed to improve the Wills services they offer to their customers after a trading watchdog expressed its concerns.

Research by the Office of Fair Trading (OFT) found that some customers were not fully aware of the options they had with regards to appointing professional executors for their Wills.

Lloyds Banking Group, the Royal Bank of Scotland, Barclays Bank and HSBC have therefore said they will review their systems to ensure that consumers have all the information they require to make decisions on Will-writing and executor services.

Director of the OFT Services and Public Markets Group David Stallibrass said: “We are pleased that each of the banks has agreed to review its selling practices and marketing literature to ensure customers are getting the information they need to make informed choices.”

This news comes after Francesca Craggs wrote an article in the Journal telling readers that people should consider making a Will with a solicitor to ensure their belongings are correctly distributed upon their death.