Current Accounts news
61 stories on current accounts, 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
Guidance updated on information provided to repeat overdraft users in financial difficulty
The FCA has updated its guidance on how firms must inform repeat overdraft users showing signs of financial difficulty, covering their financial position, credit file reporting and available options.
FCA updates BCOBS 5 on set-off, Consumer Duty and financial difficulty
The FCA has updated BCOBS 5, its post-sale banking rules, with guidance on payment instruction ordering, set-off and subsistence balances, and customers in financial difficulty, effective 26/06/2026.
- April 2026
90-day notice rule applies to accounts opened on or after 28 April 2026
Accounts opened on or after 28 April 2026 now carry a minimum 90 days' notice before a bank can terminate them, and the bank must give a clear reason for the closure.
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.
New payment account termination rules come into force
Rules taking effect on 28 April 2026 extend the notice payment firms must give before closing an account to 90 days for new contracts and require detailed reasons for the decision.
- March 2026
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.
- 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.
- 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.
- 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.
FCA cash access rules intended to be in force
The Financial Conduct Authority intends its rules making cash access reviews a legal requirement to be in force by the end of 2024, under powers granted by the Financial Services and Markets Act 2023.
- November 2024
FCA updates CONC 5D rules on identifying repeat overdraft use and supporting customers in financial difficulties
The Financial Conduct Authority has revised its overdraft repeat use rules, updating definitions, monitoring duties and intervention requirements for firms, including sustainability tests and objective income and expenditure assessments.
Strengthened intervention rules for repeat overdraft users in financial difficulty take effect
The Financial Conduct Authority's strengthened rules for banks and lenders dealing with repeat overdraft users in financial difficulty took effect on 4 November 2024, requiring prompt contact and assessment of options.
- 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.
Over 350 more firms to join Confirmation of Payee
More than 350 additional payment firms are to join the Confirmation of Payee name checking service by the end of October 2024, alongside new mandatory APP fraud reimbursement rules starting on 7 October.
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
CP24/11 consultation closes on the maximum level of reimbursement for Faster Payments APP scams
The Payment Systems Regulator's consultation on lowering the maximum reimbursement for Faster Payments APP scams from £415,000 to £85,000 closed on 18 September 2024, with the policy start date unchanged.
FCA access to cash rules come into force
Rules requiring designated banks and building societies to assess and fill gaps in local cash provision came into force on 18 September 2024, after being published by the FCA on 24 July 2024.
Specific Direction 21 issued for CHAPS APP scam reimbursement
The Payment Systems Regulator has published Specific Direction 21, requiring firms participating in CHAPS to reimburse victims of authorised push payment scams from 7 October 2024.
FCA cash access rules come into effect
Rules giving the Financial Conduct Authority responsibility for protecting cash access took effect in September 2024, requiring banks to assess an area before closing services that affect withdrawals and deposits.
Government secures industry commitment to 350 banking hubs
The Government says it secured an industry commitment in September 2024 to roll out 350 banking hubs by the end of this parliament, alongside new access to cash rules.
PSR publishes PS24/5 CHAPS APP scams reimbursement requirement
The Payment Systems Regulator has published Specific Direction 21, extending authorised push payment scam reimbursement rules to CHAPS payments from 6 September 2024.
- August 2024
Consultation launched on extending APP scam reimbursement to CHAPS participants
The Payment Systems Regulator has consulted on proposals to require banks and other firms using the CHAPS payment system to reimburse customers who are victims of authorised push payment scams.
- July 2024
FCA publishes access to cash rules
The Financial Conduct Authority published final rules on 24 July 2024 requiring designated banks and building societies to assess and fill gaps in local cash provision, with the rules taking effect on 18 September 2024.
- June 2024
Pay.UK must publish final Faster Payments reimbursement rules and compliance monitoring regime
Pay.UK was required by the Payment Systems Regulator to publish final Faster Payments reimbursement rules and an approved compliance monitoring regime by 7 June 2024, ahead of the 7 October 2024 start date.
- 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.
Current account holding rises and unbanked population falls
The number of UK adults holding a current account rose to 52.5 million in May 2024 from 50.8 million in 2022, while the unbanked population fell to 0.9 million from 1.1 million.
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.