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Many new banks do not offer mortgages to ordinary homeowners, so instead the profits on the savings they bring in come from other types of loans. As these are typically charged at higher rates than residential mortgages, their savings deals can seem far better than traditional banks - and the gap is widening.
The AA is set to mail millions of its members with details of its new one-year fixed-rate cash Isa so it's vital customers are aware of the change.
The business owner in Wales gave out an incorrect sort-code to a customer, which meant the payment ended up in the account of another HSBC customer in Bristol.
I'm a pensioner with a modest bank account held at Barclays. On August 10, I called at my branch to withdraw funds, but was shocked to be told there were none available.
A Barclays customer who was targeted by a fraudster looking to steal his account details says he has been left 'dissatisfied and perplexed' by the treatment he has received from the bank. Raymond, for Liverpool, was targeted in a 'smishing' attack after using the bank's Pingit service.
NatWest and RBS will launch a new reward current account offering customers three per cent cashback on household bills as it aims to stem the flow of people switching away. And in another signal 'free banking' is coming to an end, customers must pay £3 a month for the new account, which the bank says will earn them an average of £54 a year, once the charge is deducted.
The rise of telephone banking scams has been laid bare today with figures showing a 95 per cent surge in losses to criminals as it continues to be a major headache for banks. Overall, financial fraud rose by six per cent in the first half of the year, according to the data from Financial Fraud Action UK.
To see how much interest they earn, your child will have to grapple with different rates depending on whether the account was opened before or after October 6.
Britons who have been missold payment protection insurance will have to claim within the next two years or else miss out on compensation, the financial watchdog proposed today.
The Payment Protection Insurance scandal which has plagued banks for years is slowly seeing compensation claims starting to decline.
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. ...read
Banks and building societies wanting to boost their current customer base need to offer juicier carrots to lure people into switching, a poll has shown today.
An investigation by Money Mail has revealed how 100,000 young savers face rate cuts that will slash their interest by two-thirds.
| 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
ASK TONY
Barclays took weeks to pay back £850 it squirreled away from an account which I hadn't used for 15 months
Firm left £3.3k out of pocket after handing out a slightly incorrect sort-code
and HSBC says it cannot retrieve the money...
Savers benefit from booming buy-to-let loans
Challenger banks are upping their rates so they can lend more
Fraudsters target Barclays Pingit customer in 'smishing' scam
Makes bogus messages appear as if sent by a bank
End of the road for PPI claims?
Watchdog considers 2018 deadline for mis-selling compensation
NatWest/RBS launch new cashback current account in bid to compete with rivals
But monthly fee signals 'free banking' is coming to an end
Challenger banks lead the savings revival
Charter Savings reveals savers have put £1bn into its accounts in just six months
BEST BUY ALERT!
Tesco Bank hikes easy-access online rate as savings deals continue to edge up in recent weeks
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
| Prize value | Winning bond No. | Area |
|---|---|---|
| £1,000,000 | 70QM718428 | Cambridgeshire |
| £1,000,000 | 232XW865135 | Derbyshire |
| £100,000 | 250WP039785 | Sefton |
| £100,000 | 218MS986343 | Surrey |
| £100,000 | 178ZW377000 | Liverpool |
| £100,000 | 142LZ553221 | Inner London |
| £100,000 | 141RV744928 | West Midlands |
| £50,000 | 82PW665039 | Norfolk |
| £50,000 | 40QG075028 | Lancashire |
| £50,000 | 251KV606619 | Hereford and Worcester |
| £50,000 | 251BY155686 | Devon |
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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The top one-year deal in the High Street is still below the 2 per cent benchmark at 1.92 per cent from Post Office where the deposit taker is Bank of Ireland. Among the major providers, the best you can do is 1.65 per cent from Nationwide BS or 1.75 per cent from Leeds BS.
Average cash Isa rates have fallen to just 1.43 per cent as providers continue to steer away from new tax-free offerings, Bank of England data has found.
Savings rates from banks and building societies have been edging up in recent weeks. Tesco Bank has raised the rate it pays to new savers on its easy-access Internet Saver to 1.6%.
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.
They will have to move some of their money from their bank or building society to ensure every penny of their nest egg is covered by the UK compensation scheme.
Challenger banks are continuing to lead the way when it comes to competition with savings rates, with Charter Savings Bank the latest to boost its fixed-rate offerings.
A new banking name is looking to snap up British customers after launching a current account offering in-credit interest rates alongside a number of short-term fixed bonds.
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.
Challenger banks are continuing to lead the way when it comes to competition with savings rates, with Charter Savings Bank the latest to boost its fixed-rate offerings. The Wolverhampton-based provider, which opened for business in March, has boosted its one-year fix from 2.06% to 2.07%.
Savings rates from banks and building societies have been edging up in recent weeks. Tesco Bank has raised the rate it pays to new savers on its easy-access Internet Saver to 1.6 per cent. The rate includes a bonus of 0.85 percentage point bonus for the first 12 months, after which it drops to 0.75 per cent.
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?
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
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
When will interest rates rise?
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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