Current accounts

Santander will slash the interest paid on its popular 123 current account to just 1% and cut the cashback it offers, MoneySavingExpert.com can reveal. It's also bringing in a single overdraft interest rate of 39.9% across most accounts. We've full details and analysis below, along with answers to some of the questions you've sent us since we first published this article.

Lloyds and Bank of Scotland will be cutting the interest paid on balances of up to £4,000 on their Club Lloyds and Vantage accounts from this autumn – but as the rates can be beaten elsewhere, if you only have the accounts for the interest you could earn more by ditching and switching.

TSB has cut the interest on its Classic Plus current account from 5% to 3% from today.

Coventry Building Society is to withdraw debit cards from more than 30,000 customers using its MoneyManager savings accounts in September – and some will also lose overdraft facilities.

TSB has announced it's cutting the interest rate on its Classic Plus current account from 5% to 3% this summer – and it's temporarily reviving its £75 switching incentive for those who refer friends and family to the bank.

TSB boss Paul Pester is to leave the bank following months of IT problems earlier this year and ongoing subsequent issues.

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.

Barclays is doubling its Blue Rewards scheme incentives for new and existing customers who switch an account to it - meaning they can earn at least £132 in the first 12 months.

Two decent interest-paying current accounts from Lloyds and Bank of Scotland will have their rates cut from July, MoneySavingExpert can reveal - while Halifax is to increase the monthly fee for its Ultimate Reward packaged account.