Many savers with cash in Santander UK are worried about the safety of their money due to problems in Spain and the wider European economy. However, the bank stresses it is a separate entity to its Spanish parent, which therefore cannot raid UK cash.
Savers not warned when their rate is due to dive following the end of a fixed term could be due compensation, following a ruling by the independent arbitrator.
The UK's "failing" pension system needs to be radically overhauled and simplified to make it as attractive to consumers as saving into Isas, a report from the Institute of Directors said today.