Banking

Lloyds Bank has been ordered by the Financial Ombudsman Service (FOS) to settle a so-called 'Section 75' claim that is almost two-years old after the high-street lender tried to avoid making a payout because the items were bought via PayPal. We have the full details below and what to do if you face similar problems.

Nearly 5,000 bank branches have been closed since 2015 - or are scheduled to be shut - according to data from Which?, leaving millions of people at risk of being cut off from vital banking services.

Revolut has given 50,000 people a £20 free credit after users of the app experienced delays in making purchases and carrying out transfers during the Black Friday sales. The company told MoneySavingExpert.com (MSE) it had identified most people who encountered problems but said those who have not received a payment, but did face difficulties, should get in touch.

Nationwide customers have been unable to transfer money in or out of their bank account since around 7am, leaving some without wages just days before Christmas. The bank says it is trying to resolve the problem, which means there is currently a delay on outbound and inbound faster payments. 

HSBC customers who use the bank's app should carefully check the value of any transfers they make after it changed the way people enter payments, with some warning they nearly transferred thousands of pounds by mistake.

TSB is to close 70 branches across the UK between April and June next year. This is in addition to the 164 branches closed already this year. We have a full list of the sites being shut below and what to do if your local branch is closed.

Tesco Bank is closing its current account arm and users have until 11.59pm on Monday 15 November to start the switching process and benefit from cash bonuses of up to £130 offered by other providers. The bank will close all of its remaining current accounts on 29 November. 

Lloyds Banking Group, which owns Lloyds Bank and Halifax, is to shut 48 branches between January and April next year. The banking group will shut 41 Lloyds Bank branches and seven Halifax branches. We have full details below on which sites are being closed and what to do if your local branch is affected.

A Lloyds account holder was wrongly declared dead by the high street bank after data from the death notification service was misread by the lender, resulting in the customer having his account closed and his direct debits cancelled.

Tesco Bank has quietly launched a prepaid debit card called 'Clubcard Pay', which it's currently trialling. It promises to help you manage your money and lets you collect Clubcard points on your shopping – but the prepaid card can't be used in the same way as a full current account. Here's what you need to know.