RBS

The RBS Group is putting aside a further £100 million to cover compensation payouts for customers mis-sold payment protection insurance (PPI), it was announced today.

Five million NatWest and RBS customers will be automatically moved to new accounts in January paying well below the best buys, making it a key trigger for them to seek out a better deal.

Royal Bank of Scotland and NatWest have today been fined nearly £14.5 million after the Financial Conduct Authority (FCA) found "serious failings" with the mortgage advice given to customers.

First Direct has secured top spot for bank customer service once again with more than 90% of its account holders rating its service as "great" - it has topped every bank service poll we've ever done. Meanwhile, Barclays picks up the wooden spoon for the first time.

If you've not enough money in your account and a payment bounces, you may be able to avoid the associated fee as more banks are to adopt a 'retry' scheme from September where they'll attempt to process the transaction again later in the day.

Halifax was the big winner from the first three full months of the seven-day current account switching regime, according to new figures released today.

Lloyds Banking Group has set aside an extra £600 million to cover payment protection insurance mis-selling claims - taking its total PPI bill to over £10 billion.

The personal current account market could face a full-scale investigation by the competition watchdog after its preliminary probe found it "lacks effective competition" and "does not meet the needs of customers".

NatWest and Halifax are the latest firms we've found to have sent misleading payment demands purporting to be from independent debt collection agencies.

HSBC, Lloyds Banking Group and RBS are the latest firms found to have used dubious 'legal' tactics to pressurise indebted customers into paying. MoneySavingExpert.com has received copies of a number of misleading letters from the banking giants.