Banks

Banks will be required to refund most victims of bank transfer scams – known as "authorised push payment (APP)" fraud – from 7 October 2024, under new rules confirmed today (Tuesday 19 December). But you'll still need to be cautious when making a payment, as banks will be able to refuse refunds where you haven't been "sufficiently careful" – and they can charge an excess on claims.

Victims of authorised push payment (APP) scams could soon be guaranteed refunds from their bank as part of new rules to better protect consumers from financial fraud.

Santander customers with the bank's popular 123 current account will see the interest paid on savings drop to just 0.3% from 12 April. It's the third time the bank has cut the account's rate cut in less than a year and means holders are better off switching.

Santander is to close 111 branches - around 20% of its 563 UK branches - by the end of August, with the bank blaming the move on customers increasingly banking online. We've full info on which outlets are closing and what to do if your local branch is affected.

Consumers are being warned to look out for automated phone calls pretending to be from their bank or card company, after a wave of reports of similar scams. 

A driver who got the date of her speeding fine wrong when doing a quick price check on a comparison site was shocked to see the premium on her existing policy jump by almost £50 after her insurer was automatically told. Her story shows why you should NEVER 'guesstimate' your info when comparing insurance quotes, even if you're just checking prices and don't plan to buy a policy.

Banks will now have to publish how likely their customers are to recommend them for customer service as part of new measures designed to make it simpler for consumers to compare and switch.

Lloyds Bank is dramatically scaling back the benefits of its Avios Rewards credit card, cutting the number of Avios points existing customers can earn by up to two thirds and scrapping its free flight upgrade offer.

Halifax is cutting the monthly rewards it offers on two of its current accounts from October, MoneySavingExpert.com can reveal.

Increasing numbers of current-account holders are switching banks, with almost one million switches taking place in the last 12 months according to the latest figures - here's how your bank fared and how to bag up to £185 in vouchers for switching.