Current accounts

Bank customers who were mis-sold paid-for current accounts can reclaim any money they've shelled out, watchdogs say.

Banking giant Santander claims it has turned the corner after a torrid past 18 months which has seen it consistently score poorly on customer service.

The Government will sell Northern Rock to Virgin Money, to create a combined bank with four million customers.

New rules to ensure banks and building societies check customers are eligible to claim on insurance products before selling them as part of packaged current accounts have been proposed.

Consumers with a current account that offers insurance or other extras could be left without any cover if they fail to register first.

Banks should separate their investment and retail arms to help prevent a future financial crisis, the Independent Commission on Banking (ICB) said today.

Santander is still comfortably the worst bank account provider for customer service, according to a poll of MoneySavingExpert.com users, despite claims it had cleaned up its act.

It will soon be easier for consumers to switch bank accounts, as the Payments Council this week pledges to change the current system.

Chancellor George Osborne is today expected to give approval to plans to force banks to erect a protective firewall between their retail and investment arms, in a bid to prevent a repeat of the financial crisis of 2008.