Current accounts

M&S has unveiled its much-awaited current account which will be available from October, but it will be hugely expensive for customers who don't shop regularly at the store.

People taking out a personal pension should receive bank account-style statements to prevent them facing hidden costs, a think-tank said today.

Ulster Bank says 99% of its balances and payments are now up to date as the crisis which has engulfed huge numbers of its 1.9 million customers is nearly over.

Current accounts are to fall under the microscope of a consumer watchdog after the Office of Fair Trading (OFT) today launched a review of the market, aimed at improving competition and ensuring banks pay more attention to their customers.

The Government wants banks and credit unions to create new current accounts to help benefit claimants better manage their money when its universal credit comes into force next year.

Royal Bank of Scotland has today announced the reclaiming process for the millions hit by charges after its IT meltdown, which we can exclusively reveal. The beleaguered bank will refund all charges for both its own customers and those of other banks as a result of the crisis, which still rumbles on.

Payment protection insurance (PPI) is, once again, the most complained-about product so far this financial year, the latest Financial Ombudsman Service figures reveal.

A number of RBS and NatWest customers have complained of loan payments being taken out twice, leaving their accounts short of cash which may trigger overdraft charges.

Ulster Bank's 1.9 million customers are still waiting for a return to normal banking, with no clear indication of when their nightmare will end.

The Co-op and its sister bank Smile have become the latest current account providers to announce a rise in overdraft costs.