Payments Council

People who accidentally send a mobile, online or phone banking payment to the wrong bank account will be given more help getting it back, under new safeguards brought in this week.

Halifax was the big winner from the first three full months of the seven-day current account switching regime, according to new figures released today.

If you accidentally send a payment to the wrong bank account, you'll get more help in getting the money back from next month, under a new code of practice.

People will be able to pay in a cheque by sending a smartphone image of it to their bank under Government proposals to bolster the long-term future of the payment method.

Seven-day bank switching is fulfilling its promise a month on from its launch, according to those who've tried the service, which also guarantees all incoming and outgoing payments are moved to your new account.

Bank switching should get easier from today, with the launch of a guarantee to ensure all your incoming and outgoing payments will get moved to your new accounts, along with a promise the transfer will happen within seven working days.

Bank customers will be able to switch accounts within seven working days from 16 September – but your bank card may not be ready to use within a week of opening your new account.