The bank calling your savings 'locked for protection' is just a fancy way of saying they’re enjoying the interest.
St James's Place: ‘I saved £60k for my grandchildren, but St James’s Place won’t hand it over’
A customer is unable to access £60,000 intended for their grandchildren, currently held by St James's Place. The investment firm has stalled the transfer, citing administrative hurdles and complex internal policies. This follows broader scrutiny over the company's fee structures and customer service standards, as clients increasingly struggle to withdraw funds from their managed accounts.
Source: St James's Place: ‘I saved £60k for my grandchildren, but St James’s Place won’t hand it over’ — The Times
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