Money Tips Daily By Charles Kelly, Former Ifa And Author Of Yes, Money Can Buy You Happiness.

Bank bosses have been probed by the UK's financial watchdog over complaints that interest rates on savings are too low and are not being passed on to savers. Join me online on my free live money management training Wednesday https://bit.ly/3QPp8IH Higher interest rates have led banks to put up mortgage costs sharply, but savings rates are barely rising. Watch video version - https://youtu.be/ogv_VsmxClE Chancellor Jeremy Hunt has finally noticed that savers have been ripped off and says it is an "issue which needs solving", the BBC reports. Millions are struggling with the soaring cost of living, higher mortgage rates and energy bills, which have also failed to come down following falling oil and gas prices. The heads of Lloyds, HSBC, NatWest and Barclays banks were summoned by the Financial Conduct Authority (FCA) on Thursday. The watchdog will question the banks on poor savings rates. HSBC said it had increased its savings rates "more than a dozen times since the beginning of last year,