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Millions of holders will also have increased chance of winning from September in NS&I drawMillions of holders of premium bonds will see the prize fund rise to its highest level in 24 years and their chances of winning a prize increase from Septembe…
FCA gives banks four weeks to justify savings rates as it lays out 14-point plan to monitor treatment of customersUK retail financial services set for biggest overhaul in 20 yearsBanks have been given four weeks to justify low savings rates to the City…
Government-backed NS&I increases its rates, as building societies and banks launch better dealsAmid the mortgage misery, there was more good news this week on savings rates, with a growing number of accounts now paying 6%-plus interest.Meanwhile, t…
FCA tells NatWest, Lloyds, HSBC and Barclays to act more quickly to support consumers after profiteering claimsThe City regulator has urged the UK’s largest high-street banks to “accelerate” savings rates following a meeting with chief executives, who …
Financial Conduct Authority to meet executives on Thursday as part of its investigation into savings marketUK bank bosses have been summoned to a meeting with the financial watchdog this week amid mounting concerns that they are profiting from rising i…
Commons Treasury committee writes to four largest banks saying they risk falling foul of incoming City rules MPs have accused high street banks of failing on their “social duty” to promote saving and instead engaging in “blatant profiteering” by contin…
Bank of England data shows families drew on £4.6bn in May to help them cope with the cost of living crisisUK households are pulling money out of their savings accounts at the fastest rate ever recorded, as they draw on rainy day funds to weather the co…
MPs question why some savers are receiving only 0.25% despite 12 consecutive Bank of England interest rate risesBusiness live – latest updatesBritain’s biggest banks need to “up their game” and stop fobbing off millions of loyal customers with “measly”…
Rises of up to 0.75 percentage points follow increases at First DirectCustomers of HSBC will receive a boost to their savings after the bank announced an increase to interest rates, as Britons enjoy some of the highest rates in more than a decade.The l…
Building societies offer rates over 7% – but deals have strings attached and are limited to existing membersA new savings account has been launched that pays an inflation-beating 9% interest – hours after a rival institution unveiled an account paying …