Banking

The Chancellor Rishi Sunak has delivered one of the most important Budgets we've had for years, with key announcements on the future of coronavirus income support and big news on stamp duty, income tax, universal credit, the pensions lifetime allowance, mortgages, contactless payments and more. We've a round-up of the key news below, plus links to more in-depth analysis.

Guarantor loans have overtaken Payment Protection Insurance (PPI) as the most complained about product that the Financial Ombudsman Service adjudicates on. It's the first time in more than a decade that PPI is not the most complained about financial product.

Self-employed borrowers can once more take out credit cards with Sainsbury's Bank as it has reversed temporary coronavirus lending restrictions, which saw it stop issuing new credit cards to the self-employed. Here's what it means for you.

Martin Lewis has warned pension savers they could lose £1,000s, or even £10,000s, from their pension by falling foul of a trap that sees withdrawals taxed. Watch the full pensions special episode of The Martin Lewis Money Show on the ITV Hub.

Martin Lewis has urged people to check their direct debits and other regular payments to make sure they're not paying over the odds for something they no longer need or use. His warning comes after a The Martin Lewis Money Show viewer wrote in to say the previous owner of their house was still paying £200 a year for home insurance - 16 years after they'd moved out.

Shoppers could see the contactless card payment limit rise from £45 to £100 under new rules being considered by the financial watchdog.

Thousands of TSB customers have complained about problems accessing the bank's app and online banking services today with many saying they've been locked out of accounts. 

Santander is halving the maximum interest-free overdraft it offers those in their second year after graduating to £1,000 from 1 July, and grads who go over this buffer will be charged interest of almost 40%. But you can beat the changes by switching account – here's what you need to know.  

Can't afford to clear your debt? You can't afford not to try to move it to 0%, MoneySavingExpert.com founder Martin Lewis writes. You could save £1,000s on credit cards, mortgages, overdrafts, loans, store cards, buy-no-pay-later (BNPL) and more - here's how. 

Barclays has been fined £26 million by the financial regulator over the poor treatment of 1.5 million borrowers who had fallen into arrears or financial difficulties over a period of four years - and affected customers have also been refunded.