Savings

Ulster Bank has been fined almost £2.75 million (€3.5 million) over an IT failure that prevented thousands of customers from using their accounts for more than a month in 2012.

Savers are a step closer to being able to earn a tax-free income from peer-to-peer (P2P) lending after the Government today launched a consultation on how to include this form of lending in NISAs.

More than one million current accounts have been switched during the first year of the seven-day current account switching regime, with Halifax so far proving the most popular. But this is still a small number of switches compared to the millions of current account holders out there.

People aged over 55 will be able to dip into their pension pot like a bank account as part of the Government's drive to give people greater freedom over retirement savings.

Anyone who still has (N)ISA savings with Intelligent Finance should consider moving their cash elsewhere as its interest rates have today fallen to paltry levels.

More than half a million Cheshire Building Society accounts will be transferred to Nationwide this weekend when the building society closes.

If you haven't written a will you should consider getting one now during free wills month. It's particularly pertinent as a shake-up of the law in England and Wales may also affect what happens to your cash if you die without one.

Savers will be able to pass on money in their pension pot tax free to their children and grandchildren upon their death, after Chancellor George Osborne announced that he will abolish a 55% penalty tax for some groups.

Five million NatWest and RBS customers will be automatically moved to new accounts in January paying well below the best buys, making it a key trigger for them to seek out a better deal.

500,000 TSB customers with its Enhance current account should consider switching now, as the bank is cutting the amount of interest they can earn.