Banking

MoneySavingExpert.com is urging consumers to protect themselves from bank fees, following news that customers who replenish their accounts on the same day a direct debit or other payment is due should be spared some charges.

Further details of plans to make sure bank customers can switch accounts within seven working days from September were announced by the Payments Council today.

Bank customers who replenish their accounts on the same day a direct debit or other payment is due should be spared some charges, after an agreement was reached between the regulator and major banks.

Savers are being urged to check for forgotten Premium Bonds as £44 million worth of prizes are still unclaimed, including two £100,000 windfalls.

Customer dissatisfaction with financial firms has reached record levels with half a million new complaints dealt with in the last year, the Financial Ombudsman Service said today.

The Duchess of Cornwall has praised credit unions after one London-based co-operative announced it will keep offering "affordable" payday loans following a pilot scheme.

The Office of Fair Trading (OFT) has confirmed it won't be recommending the Competition Commission investigate the current account market — but warned providers they'll face a probe if they don't get their house in order.

Parents may be able to move cash from a Child Trust Fund (CTF) into a junior Isa (JISA) in future, as the Government has launched a consultation on the issue.

The Post Office is now offering day-to-day banking services after launching three new current accounts today.