Longstanding customers pay more than new customers for the same services, the CMA found, adding up to a ‘loyalty penalty’ of around £4 billion a year across broadband, cash savings, home insurance, mobile phone contracts and mortgages.
Interest rates on savings accounts are still worse than they were two years ago despite the Bank of England base rate being higher. How does your bank fare?
Under a new proposal from the FCA, banks would be obliged to pay savers a basic savings rate on their deposits. Which? explains how it would work.