App only banking

App-only bank Kroo has admitted it's taking up to 10 days to open some accounts as it struggles to meet demand after it launched a market-leading interest rate. If you've recently applied for the account but are struggling to open it, here's what you need to know.

Chase, the app-based bank account, is boosting the interest rate on its linked easy-access savings account to 2.1% – its first rate rise since the bank's launch last year. New and existing savers will automatically get the new rate from Monday 24 October – but you can already get higher easy-access rates elsewhere.

Chase customers have been unable to access their accounts or make payments due to technical issues at the app-only bank for several days. Here's what we know.

Marcus customers who have a savings account or cash ISA can get a bonus rate of 0.25% added to their accounts for 12 months BUT only if you activate it – below we explain how to do so.

A technical glitch has left hundreds of Chase customers unable to transfer money out of their accounts. Payments were frozen this week, with several users waiting hours and even days for money to transfer. 

Savings app Chip has simplified its membership plan structure, reducing it from three plans to two, and has also added its autosaving feature to its free 'Chip' plan. These changes – which came into effect on 14 January – apply to both new and existing customers.

Nationwide has paid around 20,000 banking customers £60 in compensation after a technical error saw their direct debits fail as a result of not being able to transfer funds into their accounts. Others may also be able to claim refunds or goodwill payments - though there are no guarantees. 

Starling Bank current account holders who want to deposit more than £1,000 in cash in any one calendar year will be charged to do so via the Post Office from March 2022. Customers will, however, continue to be able to deposit money electronically or by cheque fee-free. 

Monzo has become the first major bank to launch its own buy now, pay later (BNPL) scheme. The bank's 'Flex' service enables its current account customers to make interest-free repayments in three instalments over three months on purchases worth between £30 and £3,000. But interest of 19% APR will be charged if you need to repay in more than three instalments. Here's what you need to know. 

Thousands of charities, sports clubs and community groups with HSBC's free Clubs and Community Bank Account face being moved to the bank's new Charitable Bank Account from 1 November. The new account comes with a £5/mth (£60/yr) fee but you can switch to a free charity bank account offered by other providers beforehand to avoid the charge. Here's what you need to know.