Banks

More than 90% of First Direct's current account customers rate its service as 'great', so it's little wonder it has yet again secured the top spot in our biannual banking poll.

The Financial Conduct Authority (FCA) has today launched a challenge to the industry to ensure it better protects vulnerable customers after research found that in some cases their treatment can lead to further stress and harm.

Bank staff are adding to the distress of people registering power of attorney by misunderstanding what rights are involved, making administrative blunders or losing important documents, according to the Financial Ombudsman Service.

The euro has weakened even further over the past week. It now sits at a paltry £1 buying €1.33 at the spot rate (and £1 buys €1.33 at the best travel money rate too). This would've been unthinkable last year when you'd have done well to get €1.20 and two years ago when €1.15 would've been worth whooping about.

A basic bank account with no fees for failed payments or dipping into unauthorised overdrafts has been unveiled following an agreement between Britain's major lenders and the Government.

The Financial Conduct Authority has today announced a series of proposals aimed at improving financial services complaints handling, including banning firms from using premium rate numbers for post-sale calls and allowing people to take their complaints to the Ombudsman at an earlier stage.

More than 40,000 borrowers are in line to receive thousands of pounds in compensation following a High Court ruling over the wording of documents sent out by failed lender Northern Rock.

The chairman of the Treasury Select Committee has written to Barclays, HSBC, Lloyds, RBS and Santander asking for more information about fraud figures after the committee heard evidence the 'banks may be understating the level of fraud in the banking system' .

The limit for transferring money by Faster Payments with your bank is £100,000, yet many banks set the limit much lower – sometimes as low as £10,000.