Basic Bank Accounts

A new challenger bank has launched in the UK today, but any money saved with it isn't covered by the Financial Services Compensation Scheme (FSCS) protection, so how good is it?

A financial health minister should be appointed to help ensure everyone has access to basic facilities such as banking, affordable credit and is encouraged to save, a report argues.

A basic bank account with no fees for failed payments or dipping into unauthorised overdrafts has been unveiled following an agreement between Britain's major lenders and the Government.

Anyone who has moved from one Halifax current account to another could find their Experian credit file does not reflect this due to an IT blunder at the bank.

If you've got a basic bank account with Lloyds, NatWest, RBS or TSB, you'll soon be able to withdraw cash from any ATM, after the providers announced they'll lift a ban on customers using rivals' machines.

The Post Office is to make its current accounts available to more people by rolling out its services to another 81 branches.

Tenants living in rented homes would have better access to bank accounts and credit if information about rent payments was added to their credit rating, says Experian.

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.