Notice Banks Must Give Before Changes

If your bank wants to put up a charge, change a term or cut the interest it pays you, it normally has to tell you first. The rule that governs this says that where a firm proposes a change to a term or condition, a change to a charge, or a material change to an interest rate that works to your disadvantage, it should give you reasonable notice on paper or in another durable medium before the change takes effect¹.

In practice, "reasonable notice" usually means at least two months. That is the period Citizens Advice gives for changes to terms and conditions on current, basic and instant access savings accounts, and it is the period most banks write into their own terms². Credit card interest rate rises are the exception: providers must notify you at least 60 days before the change⁴.

The important part for you is what happens if you do not accept the change. You can close the account at any time up to 60 days from the day you were told, without giving notice or paying extra charges³. If you do nothing, you are treated as having accepted it.

What counts as a change to your disadvantage

The notice rule is not triggered by every change a bank makes. It applies where the firm is using a power in your contract to change a term or condition, a charge, or a material interest rate, and the effect is to your disadvantage¹. A new fee, a higher fee, a lower credit interest rate or a tighter term all fall inside it. A change that helps you, such as a higher savings rate, generally does not.

The regulator's rule also sets out a reminder. Where a notice is provided more than 14 days before the change takes effect, the firm should send a reminder within the 14 days before the change and up to the day before it happens¹. That is designed to stop a two-month-old letter being missed.

Some terms sit outside the protection. A notice account can state that if the provider increases the premium over base rate, it can do so immediately without telling you in advance⁶. That is a term that works in the customer's favour when it rises, but it shows why the specific account terms matter as much as the general rule.

Notice periods: usually one to two months before charges change

Two months is the standard, and it appears across current accounts, savings accounts and online banking terms. Santander's online banking terms allow it to change any term, including introducing or changing charges, provided it gives at least two months' notice⁷. Bank of Ireland tells current account customers it will normally give at least two months' notice for current accounts where a change is clearly to their disadvantage⁸, and gives written notice at least two months before increasing day-to-day charges⁹. AIB (NI) writes to customers at least two months before a fee rises or a new fee is introduced¹⁰. FirstBank UK, Insignis, Virgin Money's Current Account Control and the Co-operative Bank all use the same two-month period¹¹.

There are variations worth knowing about. NS&I says it will usually give two months' notice before a change takes place¹⁵. C. Hoare & Co gives one month's notice of amendments to its pricing policy¹⁶. Union Bank of India (UK) publishes a notice on its website for two months before a change to its schedule of charges, rather than writing to each customer¹⁷.

Savings accounts are more varied, because a rate cut is the change that matters most. thisbank gives 14 days' notice before reducing the interest rate on its Easy Access and Triple Access accounts, and updates customers within 14 days of an increase¹⁹. Reliance Bank gives at least 14 calendar days' notice in writing of a rate decrease on its notice account²¹. The Co-operative Bank's Base Rate Tracker promises personal notice at least two months before a change that decreases rates²². M&S Bank gives at least 14 days before reducing interest, but states it may not give notice at all if there is less than £100 in the account²³.

Closing an account: the 90-day notice rule for newer current accounts

A separate rule covers the bank closing your account rather than changing its terms. For accounts opened on or after 28 April 2026, banks must give at least 90 days' notice before terminating an account and provide a clear reason for the action⁵. For accounts opened before that date, banks have to provide at least 2 months' notice, and they have no obligation to give a reason⁵.

The 90-day rule began as a government proposal in March 2024, which set out requiring banks to give 90 days' notice before terminating an account²⁴. It now applies to new current accounts and to basic bank accounts opened from the same date.

Basic bank accounts have their own version. If the bank closes the account because you broke the terms, for example by opening another UK bank account, not using the account for over two years, moving abroad, fraudulent use, or abuse towards staff, it will give you at least two months' notice³. Nomo states in its terms that it can close an account by giving at least 90 days' notice, or immediately or on less notice in listed circumstances such as suspected criminal activity, bankruptcy or death²⁵. Bank of Ireland can close an account for other reasons by giving at least 90 days' prior notice⁸.

Can I close my account without penalty if I do not accept a change?

Yes, and this is the right most people never use. You can close the account at any time up to 60 days from the day you were told about the changes, without giving notice or paying extra charges³. Chase states the same in its terms: if you tell it you do not want to accept the change, you can close your account without charge²⁶. Bank of Ireland puts it the other way round: if you do not tell the bank within 60 days that you want to close or switch your account, you are treated as having accepted the changes⁸.

If you are moving to a new bank, the Current Account Switch Service adds a layer of protection. The new bank must refund you for any charges incurred as a result of a direct debit or standing order not having been successfully transferred to the new account²⁷. Citizens Advice goes further: where there is an arrangement between the old and new bank, the bank must transfer any account balance and make arrangements for direct debits and standing orders, and customers should not pay for mistakes or delays in the transfer that lead to bank charges².

How your bank will tell you

The rule says notice should be given on paper or in another durable medium¹. A durable medium is something you can keep and read again, which includes a letter, an email, or a message stored in your online banking or app. A notice that exists only on a website for a period is a different thing, and some providers use it: Union Bank of India (UK) states that a notice will be provided on its website for 2 months before any change to its schedule of charges takes place¹⁷.

Most banks do more than the minimum. Lloyds Bank says its charges and standard costs can change from time to time and that customers are told of any charges in advance so they have agreed to them before they become payable²⁸. Teachers Building Society gives at least 30 days' notice before introducing or varying a charge²⁹. Bank of Ireland gives at least two months' written notice before increasing charges that apply to the day-to-day running of an account⁹.

Where a change is in your favour, the notice can be shorter or come afterwards. Chase says it will usually give at least two months' notice before changes take effect, but increases to interest rates paid to customers are notified no more than 30 days after the change³⁰. AIB (NI) gives two months' notice of interest rate changes except for changes to reference interest rates¹⁰. Bank of Ireland gives a minimum of 14 days before an interest rate change to your disadvantage, with details on its website within 30 days of making the change³¹.

Where to complain if the notice never came

Start with the bank. Citizens Advice's route is to talk to the bank first, then make an official complaint or move to a more accessible account if you are still not happy³². MoneyHelper sets out the same path with the timings: complain to the bank's customer services, then make a formal complaint, and the bank has eight weeks to investigate and give a final response³³.

If eight weeks pass without a final response, or you are unhappy with the response, you can take the complaint to the Financial Ombudsman Service. The ombudsman's own guidance is to complain to the company involved first, and if they do not send a final response within eight weeks or you are unhappy with it, you can complain to the ombudsman³⁴. The service is free.

If the problem is a scam rather than a notice failure, the route is different: contact your bank using the phone number on the back of your card or on a recent statement if you have revealed personal information or see unrecognised activity³⁵. For complaints about data you shared under open banking, complain to the third-party provider you shared it with first, and if they do not resolve it you can lodge a complaint with the Financial Ombudsman Service³⁶.

If you are struggling with the account itself rather than the notice, free and impartial help is available from MoneyHelper and from debt advice charities, and the ombudsman service handles complaints once the bank has had its chance to respond.