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This week, Santander announced it would hike the fee on its flagship 123 current account,promoted by Formula 1's Jenson Button, here with Myleene Klass, by 150% from £2 a month to £5. The account has lured 3.8 million customers to Santander since its launch in 2012, largely attracted by cashback of up to 3% on household bills.
The challenger bank hiked the rate by 0.15 percentage points to leapfrog RCI Bank 's 2.35 per cent at the top of the independent This is Money fixed-rate savings table.
The message says there has been suspicious activity on the current account and they should ring the bank on a phone number in the text.
My 90-year-old mother suffered a fall in April, was in hospital for several weeks and has deteriorated mentally.
More than 400,000 National Savings and Investment savers who hold a Direct Isa will see the rate they receive shaved by 0.25 percentage points to 1.25 per cent. The tax-free offering launched in April 2008 and gave savers a far meatier rate of 5.3 per cent. Within a year, it had fallen to 1.3 per cent, but this latest cut leaves it languishing as its worst ever rate.
A German-based savings platform which offers residents in the country access to top rates across the continent is set to launch in Britain the coming years. SavingGlobal, based in Berlin, allows Germans to open savings accounts around Europe without having to visit branches or learn the local lingo.
Banks will be forced to become more transparent about current account costs and provide better access to the clearing system under a wide-ranging review into competition. But they are expected to be allowed to continue to offer free accounts which smaller so-called challenger banks have attacked amid claims that they stifle competition.
TSB has launched a cashback boost to its popular Classic Plus current account paying five per cent cashback on up to £100 of contactless spends each month.
Customers looking to switch current accounts can cash in on incentives being offered by banks looking to snare new business.
Customers signing up to Nationwide's Flex Direct current account through Money supermarket can grab a £100 cash sign-up bonus. The account already pays 5 per cent in-credit interest.
Banking in Britain is changing. Next month we will see a glimpse of the future when proposed improvements are announced - affecting anyone with a current account. The Mail on Sunday reveals what is on the cards, why it is important to switch - and how to measure the value of your account. ...read
Halifax offers a similar deal on its 18-month Tracker Bond, paying 1.54 per cent (1.93 per cent). This promises that you'll always earn 1.14 (1.43) percentage points more than the base rate.
After months of lacklustre tax-free returns for savers, a flurry of deals from building societies and challenger banks is putting High Street rivals in the shade.
| Provider | Rate |
| NS&I; | 1.50% |  |
Monmouthshire BS | 1.50% | |
Virgin Money | 1.41% | |
| Coventry BS | 1.40% | |
| Dudley BS | 1.40% | |
Our savings picks
This is Money's five favourite best buy cash Isas for 2015
BEST BUY ALERT!
Fixed savings rates creep higher as challenger bank's new two-year bond offers 2.4% interest
ASK TONY: Mum got ill with advancing Alzheimer's
But Nationwide BS wouldn't let me run her affairs
Beware text messages sent from your bank
'Vishing' con netted fraudsters £24m last year - and refunds are often refused
Has Santander just killed off Britain's best bank account?
Spanish lender to hike fee on flagship deal by 150%
What if you could access the top savings accounts across Europe
New platform that offers access to accounts across borders
Nationwide offers £100 cash perk for new current account customers
On top of 5% interest on balances
More than 400k savers hit as National Savings cuts popular cash Isa to 1.25%
The lowest rate since 2008 launch
TSB boosts Classic Plus Account earnings to up to £238 a year
With new 5% cashback perk on contactless spending
Why banks can't compete against National Savings
And how it offered bonds paying nearly two-thirds above market rate
Banking reforms are on the way that could spell the end of the free account
But are you tapping into the best deal?
| Prize value | Winning bond No. | Area |
|---|---|---|
| £1,000,000 | 181XE611069 | South West Wales |
| £1,000,000 | 180AV204733 | Overseas |
| £100,000 | 82NC804116 | Outer London |
| £100,000 | 248RZ165168 | Bedfordshire |
| £100,000 | 188PZ779903 | Essex |
| £100,000 | 15SM469591 | Overseas |
| £100,000 | 137XP786876 | Fife |
| £50,000 | 89AE387151 | Birmingham |
| £50,000 | 6HJ562295 | Hertfordshire |
| £50,000 | 36BX381662 | Leicester |
| £50,000 | 251XK512431 | Surrey |
We pick our five favourite cash Isas for savers. This is essential Isa reading and is kept up-to-date throughout the year
Savings rates have had a rocky ride. We chart what has happened and where rates are heading
| Provider | Incentive |
| First Direct | Free £150 | |
| HSBC | Earn £240 | |
| Nationwide | Travel cover | |
| Santander | 3% cashback | |
| Halifax | £5 a month | |
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Contactless technology has become more popular in the last year, with recent reports suggesting usage has grown significantly. Some don't like them - but you can request not to have one. Meanwhile, at NatWest and RBS, it says out of 8 to 9m contactless cards issued since 2013, only 1,200 have requested to not have the technology.
In April, a new personal savings allowance means basic-rate taxpayers pay no tax on their first £1,000 of any savings interest.
Britain's biggest bank, which has 16 million UK customers, failed to transfer hundreds of millions of pounds this morning. They say those who missed out should be paid this evening.
Savers piled more than £13billion into pensioners bonds in just a few weeks, figures from National Savings & Investments have shown.
Alongside these new fixed rate accounts, Kent Reliance has launched a new easy-access account, paying an annual interest rate of up to 1.55.
The gap between the rates of interest paid by banks on their old easy-access accounts and that on new deals has risen by such a degree that customers are missing out on huge interest boosts.
In his Budget speech on March 18, Chancellor George Osborne said the fully flexible Isa would be available from the autumn. But it has emerged that savers will have to wait until April 6 next year.
Britons are increasingly using contactless credit and debit cards to pay for goods and services in the last 12 months, according to two separate reports.
While households are now marginally better off, savers without a home loan are roughly £1,000 worse off than they were before the financial crisis bit seven years ago, the ONS said.
The Financial Conduct Authority is set to rule within weeks on whether undisclosed commissions charged on PPI break consumer protection rules.
Around 200 complaints a day are being handled by the independent Financial Ombudsman Service, and with the average payout at £300, more than two million people may be set to make a claim.
The challenger bank hiked the rate by 0.15 percentage points to leapfrog RCI Bank 's 2.35 per cent at the top of the independent This is Money fixed-rate savings table. It comes as a number of providers in recent months have focused on straight forward fixed-rate bonds, a large percentage of which are for 12 months.
Kent Reliance has today boosted the rate on its one-year fixed-rate account rocketing in to the top of the independent This is Money savings tables. It is now offering 2.1 per cent over 12 months, up from 2.02 per cent it previously had available. This nudges it past Charter Savings Bank to the top spot by 0.04 percentage points.
Customers CAN request not to have a contactless debit card major banks say
But at one, just 1,200 out of millions have...
Britons embrace contactless payments with spending up 560% in a year
And half of transactions are made by the over-50s
'I got £130k back from PPI'
Chef's massive payout and he DIDN'T use a claims firm
Savers lose more than £1BN by failing to switch accounts
Five steps to securing better rates for your savings
The top savings deals that WILL pass on a rise...
When the Bank of England's base rate goes up
Mis-selling scandal could see customers pocket £33bn windfall
What did banks do wrong and will you receive compensation?
With the new term just a month away banks battle to offer best student current accounts
How do they compare?
Leeds BS launches 'flexible' five-year fixed savings account that allows 25% access
But is it worth taking?
HSBC offers new customers biggest sweetener yet with £240 gift for switching
But how does its Advance Account stack up?
Challenger banks Charter Savings and RCI boost fixed savings rates
Smaller providers continue to leapfrog each other
Reduced to tears by bailiffs shouting through her door
Banks bullied woman for FIVE YEARS over a £16k debt owed by someone else
Stealing data from contactless cards is easy, experts warn
Are they safe (and can you protect your wallet with foil?)
Film and TV stars join forces to save their local bank branch
Barclays customers face a devastating wave of closures
ME AND MY MONEY: I've invested in 40 Burger Kings and a golf course...
Billionaire Metro Bank founder reveals his finances
'Big four' banks lost quarter of a million current account switchers last year
And Barclays was the biggest loser
End of stag-do squabbles?
Cash kitty goes digital with new app that allows people to club together and use one prepaid card to pay
These seven expats between them have 325 years of loyalty to Barclays
And now their accounts are being closed with NO apology
Savings Champion:
The hassle-free way to ensure you're getting the best savings rates
Three simple steps to switch your current account to a better deal
Checking whether you can get a better current account is a wise move - we explain how to do it
SAVE SAFELY:
We explain the rules on savings compensation, updated as they change, and how to keep your money safe
SAVINGS COMPENSATION & PROTECTION:
A comprehensive list of bank ownership and licences
BM Savings want to charge me half the interest I've made on my cash Isa as a fee for paying the money straight to my account. Why is it free if it's a cheque payment?
Tech giant Apple has launched a service that turns your mobile phone into a wallet. So how does it work and is it safe?
My Canadian uncle died, leaving me and my brother 11,741.57 dollars each. My brother paid his cheque into Santander and received £6,246.65. But I used NatWest and only got £6,042.65.
I got a letter yesterday informing that the NatWest Your Points incentive scheme is to be terminated. Is there any way to fight back?
Making the most of your annual Isa allowance is the cornerstone of wise saving. There's no income tax to pay on interest and no capital gains tax on profits. This makes them ideal for long-term savings because money that is not taxed grows faster. This essential guide reveals, how to start using an Isa for your savings. ...read
We explain the rules on savings compensation, updated as they change, and how to keep your money safe by not putting too much savings with one bank
The way you spread out your savings with banks is crucial in terms of protection and compensation. We show you how to get protected.
This week, the Independent Commission on Banking told how consumers get poor value from their bank. Yet we move our current account just once every 26 years. We tell you how to get a better deal.
We pick our five favourite cash Isas for savers. This is essential Isa reading and is kept up-to-date throughout the year
Guide: The array of deposit accounts can be confusing. We explain them all and reveal the best and safest rates and accounts
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We explain the factors that will decide when interest rates rise, with the latest forecasts from markets and economists
Energy bills: Should you switch?
All the latest changes to gas and electricity prices. Read our advice on when and whether to switch to get the best deal.
What next for the pound?
What determines the strength of the pound, the latest expert views as to whether it will recover in 2010, and latest market and tourist rates
House prices: What next?
The latest house price news, predictions and what home-owners can expect next
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