UK money news stories - 29 January 2025

Lloyds Banking Group announces 162 more branch closures

Expect to see 61 Lloyds, 61 Halifax and 14 Bank of Scotland branches closing between May this year and March 2026. Here’s a full list of the ones we know are shutting.

NatWest, RBS & Ulster are closing 136 branch closures too

Another high street banking group has also announced it’s reducing its number of branches this year. We’ve revealed which ones are going to close and what to do if your branch is on the list.

Government has NO plans to force businesses to accept cash, says new Treasury minister

As the UK becomes more and more cashless, there’s been plenty of talk about making sure that the people who rely on cash can still use it. Last year MPs launched an enquiry into whether rules were needed to support the use of cash. However, on Tuesday they were told there were no plans to make businesses accept it.

February 2025’s savings round-up

Whether you’re looking for a new savings account or want to find out what’s going on with your provider, we’ve put together everything you need to know about what’s going on in the savings world, in one place, including what banks are cutting interest rates and the top accounts for your money.

All my accounts were shut down when TSB labelled me a ‘fraudster’ instead of the victim

A nightmare story of what can go wrong when errors are made on the National Fraud Database. This TSB customer did nothing wrong (in fact they were the victim of fraud) but they suffered serious consequences as a result of the bank’s mistake.

Power of Attorney online tool STILL not live – here's how the process is set to change in future

An online tool to make applying for Power of Attorney quicker and easier is still not available despite being announced over a year ago. And the Government still don’t have a launch date…

Online shoppers unexpectedly buying from abroad due to misleading ads

We all see adverts on social media all the time, and sometimes they’re selling us something we really want. But be warned, they don’t always make it clear that the company is based abroad and if the item turns out dodgy or doesn’t arrive, you could have issues getting your money back.