Martin Lewis issues bank account warning to 8 million people

Martin Lewis warns millions on Universal Credit locked out of bank switching

Martin Lewis has written to the Work and Pensions Secretary with a warning that millions of benefit claimants are being blocked from accessing better banking deals.The MoneySavingExpert founder said up to 8.3 million people receiving Universal Credit could effectively be prevented from switching bank accounts because of administrative barriers.Mr Lewis sent the letter to work and pensions secretary Pat McFadden on December 12.He urged the Govern…

Martin Lewis issues bank account warning to 8 million people

Martin Lewis has issued a warning to up to 8.3 million people on Universal Credit (UC), who he says may be effectively blocked from switching bank accounts. The MoneySavingExpert founder has written to Work and Pensions Secretary Pat McFadden, urging the government to investigate. Lewis says those on UC may be prevented from taking advantage of incentives to switch bank accounts that could improve their finances. He flagged issues such as some c…