Banking

Sainsbury's Bank plans to eventually stop providing banking services including loans, credit cards, savings accounts and more, the firm has announced – but it's still very early days and there's NO change for new or existing customers right now.

The Bank of England held its base rate at 5.25% for the third time in a row on 14 December. This rate is used by the central bank to charge other banks and lenders when they borrow money – and so it influences what borrowers pay and what savers earn.

Around 2,000 Think Money customers have been locked out of their accounts after the current account provider relaunched its app. Some say they've waited weeks to gain access, while others have been held on the phone for hours trying to get help. We explain what's happening and detail your options. 

Expats who bank with Barclays face having their UK accounts closed following a "strategic review" by the bank, leaving some customers worried about the alternatives available to them.

Barclays will shut at least 214 of its bank branches throughout 2023 and 2024 – more than a third of its entire UK network – after announcing a further 18 branch closures. Below we list the branches disappearing and what the alternatives are if you still want face-to-face banking.

NatWest, Royal Bank of Scotland (RBS) and Ulster Bank, which are all part of the NatWest Group, will now shut at least 172 of their bank branches in 2023 and 2024, following the Group's latest announcements.

Banks and building societies will face fines if they fail to protect consumers' free access to cash under new powers being given to the financial regulator. 

Seven 'banking hubs' are now up and running in the UK, after the latest opened in Carnoustie in Scotland this week – and four more locations have been announced today (Wednesday 12 July). 

Savers with accounts that pay low or no interest will soon be prompted to consider alternatives under a crackdown by the regulator. The Financial Conduct Authority (FCA) has announced a raft of measures designed to better protect savers amid concerns they're being ripped off.

Virgin Money will close another 39 bank branches this year, almost a third of its network, with the firm claiming that more customers are choosing online banking over in-person visits. Below we list the branches disappearing and what the alternatives are if you still want face-to-face banking.