Saving & banking

Earlier this year the issue of banks closing accounts, known as 'debanking', hit the headlines when former UKIP leader Nigel Farage claimed Coutts shut his current account due to his right-wing views. But today the FCA published a report saying it had found no evidence of this at all.

Coventry BS has boosted the rate on its regular saver to 5.5% - not the top headline offer. But, here's why it could now be the best option to start the savings habit. Also today, Lloyds Bank has upped the rate on its regular saver to 6.25% while First Direct still has its 7% offer.

Cash Isa rates have been hotting up with a flurry of rate rises on these accounts. Last week, Moneybox launched a new market leading cash Isa, paying 4.65 per cent on deposits of up to £500. We asked savings experts where rates could go next and whether these accounts are now worth a look.

First Direct is launching a limited-time prize draw for switchers, with five new current account holders in with a chance of winning £12,500. Eligible customers who open a first direct current account between now and 1 October will be in with a chance of winning a prize.

Saving and investing platform Moneybox has launched a new market-leading cash Isa, paying a rate of 4.65 per cent on deposits of £500 or more. This rate includes a bonus rate of 0.85 per cent for the first 12 months. Savers wishing to open this cash Isa should be aware that a lower interest rate of 0.75 per cent will be applied if your account balance dips below £500.

Almost two-thirds of those with a savings account would put spare cash into their savings in the next 12 months, compared with a fifth who would put additional money into their pension, according to a survey by Standard Life. Men are more likely to opt to boost their pension compared with women. While saving rates appear more attractive as they rise to the highest rates in years, contributing extra cash to a pension has the added benefit of tax relief.

71 per cent of Leeds Building Society's members would prefer to use passbooks to manage their accounts, according to a survey carried out by the building society last year. Leeds building society has reassured customers that passbooks are here to stay.

The top rates change every day or so as providers vie for new customers and pass on Bank of England base rate rises - which now total 14 in under two years. However, if you don't have the time to shop around - but still want a good deal - there are some consistently good payers. With these, you are unlikely to get the very best rates, but you can rest assured you're getting not far off.

Over a million eligible young people have not yet claimed their Child Trust Fund (CTF) money worth on average £2,100 new research from Wealthify reveals. There is now £1.7billion in total ingering unclaimed in CTFs according to HMRC. Here's how to track it down.

Fixed rates are easing back, with SmartSave's 6.01% one-year fix the only 12 month deal to now offer a rate beyond 6% - and that requires £10,000 to open. That comes after a handful of providers had short-term deals offering interest beyond 6 per cent, with one-year deals peaking at 6.1 per cent a few weeks ago.

Santander increased the amount it pays on its Easy Access Edge Saver account by 3 percentage points - from 4% previously. However, the catch is it's only the first £4,000 on the account that returns the top rate. You can earn £22.60 in interest every month - amounting to £271 over a year. This includes an underlying rate of 4.5% and a 2.5% bonus rate for the first 12 months after opening the account.

The number of student bank accounts offering a £100 cash incentive upon opening has shot from just two last year to seven today - a rise of 250%. In addition to cold hard cash, many banks are also enticing students with interest-free overdrafts, free rail cards and other perks. We explain what's on offer.

NS&I; upped rates on a number of savings deals this week - we run the rule over whether any of them are worth having, or whether you should avoid them. Premium Bonds have been boosted - and so have Income Bonds, Direct Saver, Direct Isa, Junior Isa and its Investment Account.

Tens of thousands of households could have unexpected windfalls coming their way thanks to a drive by National Savings & Investments to track down winners of unclaimed Premium Bond prizes. Most unsuspecting winners do not know about their good fortune because they haven't updated their contact details with NS&I.; This happens, for example, when they have moved house. Then, if they win, NS&I; is unable to get hold of them. But some winners may not be aware that they are Premium Bond holders. This is because they were given paper-based bonds as a child - without knowing. These have been a popular gift for babies since their launch in 1956.

Most savers opt for bonds with whole-year terms, with the most popular being one-year deals. But experts say consumers are increasingly now choosing bonds with less popular durations. This is because of stiff competition on interest rates from savings providers for once-overlooked bonds of unusual lengths.

NS&I; is boosting the rate on its Premium Bonds prize fund to 4.65 from 4%, the highest level since March 1999. The odds of winning the jackpot will now improved to 21,000 to 1 from 22,000 to 1 - their best level since the April 2008 prize draw.

This is Money analysis of the major banks' half-year results showed every single firm made a growing amount from net interest margins - the difference between low savings rates and high mortgage and loan costs. A third of savings held in easy-access accounts is earning 1% or less in interest.

My boyfriend and I have started saving up in the hope of buying our first home. Unfortunately, as we are planning to buy in London, a Lifetime Isa isn't suitable for us because it cannot be used to buy a home worth more than £450,000. We think our first home will cost us about £550,000, based on current market prices and the location and type of property we think we'll need. What savings account would make most sense for us right now? Regular savings accounts pay the most interest but seem too limiting, while fixed rates don't let you keep adding cash. Should we just put it all in an easy-access account?

More than 1.7million people were hit with a tax bill on their savings last year - and millions more could be forced to pay up this year, our new figures reveal. Until recently, only a handful of savers with high balances in their bank accounts had to pay tax on their interest. But as savings rates have risen, the number caught out rose by 82 per cent in one year alone - up from 972,000 in the 2021-22 tax year.

Two thirds of Britons are still managing to put money into savings despite rising costs, research from the Money and Pensions Service shows. Most said they were saving up for unexpected expenses, while others were putting money away for special occasions, holidays and day trips. Putting away small, regular and affordable amounts can help people get into the savings habit and build financial security. However, one in six people are still unable to save anything, and and have no past savings to draw on.

Crisis hit NatWest has started the year with a bang, gobbling up more bank account switchers than any other bank. In the first three months' of this year, NatWest attracted 45,651 more switchers than it lost via the official current account switching service (CASS). The next best performing bank was HSBC which made net gains of 28,486. Meanwhile, Nationwide lost a whopping 34,259 more switchers than it gained and Barclays lost 18,655 more than it lost.

When it comes to our savings, there is rarely any reward for loyalty. And yet, many Britons don't change their savings provider to bag a better rate - quite often it's simply out of indifference. After all, it's easy to imagine that moving one's savings to a new provider will require laborious form filling, slow customer service and a raft of other admin to get the account open.

The secret to saving success is compound interest. Over the long-term this earns you interest on the interest on your savings and boosts your returns. This calculator works out how much a regular monthly savings scheme could make and how much a lump sum investment could be worth.

How hard does your bank account work for you? Hard enough to give you cashback on your household bills, interest on your balance or simply standout customer service? Here is our pick of the best accounts to make your money work harder, cut down on fees, or get free stuff.

A new wave of savings platforms have emerged in recent years which help savers keep track of their accounts more easily and move money into better rates after signing up. We round them up, look at the top rates from savings platform Raisin and reveal whether they beat the best buys in our independent This is Money savings tables.