Banks news
33 stories on banks, newest first. Every story is dated and cites its sources.
- September 2026
Santander banking app outage leaves customers unable to access online banking
Santander customers were unable to reach online banking through their phones around midday on 25 September 2026, with reported problems falling from 3,620 to about 700.
- July 2026
Consumer Council publishes research on Northern Ireland bank branch closures
The Consumer Council for Northern Ireland has published research finding that Northern Ireland lost around 48% of its physical bank branches since 2020, with closures affecting consumers and small businesses in urban and rural areas.
- June 2026
FSCS raises deposit compensation limit to £120,000
The Financial Services Compensation Scheme raised its deposit protection limit from £85,000 to £120,000 per eligible person per firm on 1 December 2025, after the PRA confirmed final rules in November 2025.
- April 2026
Lloyds Banking Group sends Treasury Committee second update on IT glitch
Lloyds Banking Group has sent the Treasury Committee a second update on an IT glitch, reporting a further £62,000 in goodwill payments and, for the first time, that 80,805 joint account holders may have had transactions shared.
- March 2026
IT glitch exposed other customers' transaction data at Lloyds Banking Group
Up to 447,936 Lloyds, Halifax and Bank of Scotland customers saw other people's transactions or had their data shared during an IT glitch on 12 March, the Treasury Committee has said.
Lloyds customers reportedly able to see other people's account information in banking app
The Treasury Committee has written to Lloyds Banking Group after it was reported that some customers could see information relating to other people's accounts through its banking app.
Lloyds IT glitch affected nearly half a million customers
Lloyds Banking Group has told the Treasury Committee that an IT glitch affected nearly half a million customers, with £201,000 in goodwill payments made to 5,250 people.
- November 2025
Scotland first part of UK to see over half of bank and building society branches close
Consumer Scotland says Scotland became the first part of the UK where more than half of bank and building society branches have closed, with 722 of 1,041 shut and 18 more due to close as of November 2025.
- October 2025
AWS outage disrupts Lloyds Banking Group online and mobile banking
An Amazon Web Services outage on 20 October 2025 disrupted online and mobile banking at Lloyds Bank, Halifax and Bank of Scotland, with some services later restored.
- March 2025
Treasury Committee finds nine top banks had at least 33 days of outages over two years
The Treasury Committee has written to Lloyds Banking Group over an IT glitch that let some customers see other people's account information, and has restated its earlier finding on bank outages.
- January 2025
Nationwide introduces payment queueing system after surge on first working day of 2025
Nationwide introduced a payment queueing system on 4 January 2025 after a surge in payments, with around 20,000 direct debits failing and £60 compensation paid to affected customers.
The Co-operative Bank acquired by Coventry Building Society
Coventry Building Society bought The Co-operative Bank on 1 January 2025, and now plans to transfer the bank's business, including smile, into the society on 1 January 2027.
- December 2024
Nationwide payment outage on 22 December leaves customers waiting for wages
Nationwide customers reported waiting for wages and seeing Direct Debits bounce during a payment outage on 22 December, one of four faster payment problems at the building society in recent months.
- November 2024
Barclays takes over Tesco Bank's savings, credit cards and loans
Barclays completed its takeover of Tesco Bank's savings, credit cards and loans on 1 November 2024, meaning the two brands now share a single £120,000 FSCS protection limit.
- October 2024
High Court approves transfer of Tesco Bank banking business to Barclays
The High Court approved the transfer of Tesco Bank's banking business to Barclays Bank UK PLC on 17 October 2024, with the transfer completing on 1 November 2024.
Virgin Money acquired by Nationwide Building Society
Virgin Money's banking business transferred to Nationwide Building Society on 2 April 2026, after Court approval on 23 February 2026, combining the two businesses under mutual ownership.
- September 2024
UK banks commit to 350 banking hubs over next five years
UK banks committed in 2024 to opening 350 banking hubs over five years, as new rules on cash access took effect and branch closures continued across the UK.
- July 2024
Global IT outage disrupts UK banks and other services
A faulty Crowdstrike software update caused a worldwide IT outage on Friday 19 July that disrupted UK banks, airports, railways and GP surgeries, with some bank customers still reporting problems the following Monday.
Revolut secures restricted UK banking licence
Revolut has been granted a UK banking licence subject to restrictions, more than three years after applying in January 2021, and must complete a mobilisation period before it can operate as a full bank.
- May 2024
Treasury designates 14 large banks and building societies and 2 LINK entities for the access to cash regime
The Treasury has designated 14 large banks and building societies, plus two LINK entities, for the FCA's new access to cash regime, with rules taking effect on 18 September 2024.
Treasury designates banks and building societies subject to access to cash rules
The Treasury has named the banks and building societies that will fall under the Financial Conduct Authority's access to cash rules, along with an operator of cash access coordination arrangements.
- April 2024
JROC publishes recommendations for next phase of open banking
The Joint Regulatory Oversight Committee has published recommendations on the design of a future open banking entity, covering structure, governance and funding, and proposals for a new interim body.
- January 2024
Link recommends 101 new banking hubs across the UK
Link has recommended 101 new banking hubs across the UK, following assessments made when the last bank branch in an area closed and requests from communities.
- August 2023
Consumer Council research finds Northern Ireland lost 27% of bank branches in under three years
The Consumer Council has found that Northern Ireland lost 27% of its bank branch network in under three years, with vulnerable consumers and rural areas most affected.
- July 2023
FCA sets out 14-point action plan on cash savings
The Financial Conduct Authority has launched its Consumer Duty rules and set out a 14-point plan on cash savings to make banks and building societies pass on interest rate rises to savers.
- June 2023
Barclays withdraws Android NFC contactless payments from its app
Barclays has withdrawn contactless payments of up to £300 made through its app on NFC-enabled Android devices, with the feature ending on 30 June 2023 under terms issued in April and October 2023.
Access to Banking Services in Northern Ireland published by CCNI
The Consumer Council Northern Ireland published an analysis of bank closures across Northern Ireland from 2020 to early 2023, showing 21% of consumers had seen their local bank close.
- April 2023
Which? research finds banks mishandling Power of Attorney registration
Which? research published on 3 April 2023 found that banks mishandle power of attorney registration, restrict attorneys' online access and give misleading advice, while building societies performed better.
- January 2023
Consumer Council publishes Access to Banking research
The Consumer Council's Access to Banking Services research found 52 Northern Ireland bank branches closed between May 2020 and January 2023, 27% of the network, figures later cited by a Stormont committee.
- October 2022
Nationwide opens face-to-face cost of living expert appointments
Nationwide Building Society opened appointments with cost of living experts from October 2022, available face-to-face, by phone or by video, offering financial health checks and money management advice.