UK Contactless Payment Rules Change in March 2026
New FCA rules from March 19, 2026, allow UK banks to raise contactless limits above £100. Defaqto analysis reveals only 42% of banks currently let customers set their own limit.
Category : Banking
Lloyds Bank: 40-Day Warning for £250 Account Switch Payment
Lloyds Bank has issued a detailed update regarding its £250 switching incentive, clarifying that payments may take up to 40 days to reach eligible customers who completed the process by the February 3 deadline.
Fewer Than Half of Banks Let Customers Set Contactless Limits
A Defaqto study shows only 42% of UK banks and building societies allow customers to set their own contactless card limits ahead of new FCA rules. Experts urge consumers to choose providers with robust in-app controls for better money management.
Banker's Sentence Halved Over False Harassment Claims
Damilare Ajao, a former Commerzbank employee, had his 20-month sentence for contempt of court reduced to eight months after appeal judges found sentencing guidelines were misapplied.
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Nationwide Explains Legal Changes Before July Deadline
Nationwide Building Society has detailed upcoming legislative changes affecting its funding limits, which could unlock billions for mortgages and business loans. MPs will consider the new regulations before the summer recess.
Sydney Mum Sues Bank Over $44 Credit Rating Mistake
A Sydney mother took Westpac to court after a $44 debt led to a wrongful bad credit rating, scuttling her property purchase. The judge criticised the bank's handling.
NatWest's £150 Bank Switch Offer vs Competition
NatWest offers £150 to switch current accounts, plus a 7% regular saver. We compare it to Santander, Nationwide, and others to help you maximise your money.
Bank of Ireland UK Fined £3.7m for Late Fraud Tool
The Payment Systems Regulator has fined Bank of Ireland UK £3.7 million after it implemented a crucial anti-fraud system over a year late, leaving £6.9 billion in payments unprotected.
Goldman Sachs Scraps Diversity Factors in Board Hiring
Goldman Sachs has removed race, gender identity and sexual orientation from board candidate criteria following conservative activist pressure, joining a broader corporate retreat from DEI initiatives.
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Martin Lewis: Top Bank Accounts for Free £200 and Perks
Money Saving Expert founder Martin Lewis explains how switching to packaged bank accounts can earn you up to £200 free cash plus valuable insurance benefits.
Goldman Drops Race, Gender from Board Hiring Criteria
Goldman Sachs will no longer consider race, gender identity, ethnicity or sexual orientation when hiring board members, marking a significant retreat from DEI initiatives following pressure from conservative groups and the Trump administration.
UK Banks Plan Payments System Over Trump Security Fears
Major UK banks are developing a national payments system to reduce reliance on US networks like Visa and Mastercard, driven by concerns over potential disruptions from US political actions.
UK Banks Plan National Payment System Over Trump Fears
Britain's largest banks are developing a domestic payments network to reduce reliance on US-based Visa and Mastercard, driven by concerns over potential disruption under a Trump administration.
Treasury Plans Legal Changes for Building Societies in 2026
MPs will consider new legislation to relax funding limits for building societies like Nationwide, potentially releasing billions for lending. Treasury officials confirm statutory instruments will be laid before summer recess.
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UK Banks Plan National Payment Network to Counter US Reliance
UK bank bosses are holding talks to establish a national alternative to Visa and Mastercard, amid fears over reliance on US-owned payment systems and potential disruptions.
Ex-Carillion Boss Fined £237k for Reckless Actions by FCA
The Financial Conduct Authority has fined former Carillion CEO Richard Howson £237,000 for acting recklessly and misleading investors about the firm's financial troubles before its 2018 collapse.
Lloyds Investigates Staff Account Data Use in Pay Talks
Lloyds Banking Group CEO Charlie Nunn addresses concerns after using aggregated employee bank account data during union pay negotiations, prompting ICO inquiries.
Klarna Now on Google Pay for UK Shoppers
Klarna integrates with Google Pay, allowing millions of UK users to access buy now, pay later options directly from their phones, amid upcoming FCA regulation.
Bank of England's Gender-Fluid Dress Code Breaks City Traditions
The Bank of England introduces groundbreaking dress code allowing gender-fluid expression, challenging decades of City tradition while facing economic pressures.
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Valentine's Day Chocolate Prices Rise Despite Cocoa Drop
Valentine's Day chocolate prices in the US have increased by 11.8% on average, as manufacturers face high costs from past cocoa purchases and trade tariffs, with consumer demand remaining strong.
Lloyds CEO Could Land £17.7m Under New Pay Policy
Lloyds Banking Group has unveiled a new executive compensation policy that could see CEO Charlie Nunn earn up to £17.7 million this year. The changes aim to align pay more closely with financial performance.
Lloyds, Halifax, NatWest Shut 40+ UK Branches in 2026-27
Major UK banks including Lloyds, Halifax, and NatWest announce closures of over 40 branches from May 2026 to March 2027, citing a shift to digital banking and alternative services.
Jamie Dimon's Legacy at Risk from Epstein Files and Trump
JP Morgan Chase CEO Jamie Dimon faces a turbulent final career phase as Epstein files and Trump's lawsuits threaten his reputation, with questions over his knowledge of the bank's ties to the sex trafficker.
Nationwide Cuts Mortgage Rates Up to 0.16% for Customers
Nationwide Building Society announces significant mortgage rate reductions of up to 0.16 percentage points effective today, offering savings for first-time buyers, home movers, and remortgagers across fixed-rate products.
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NatWest Profits Soar 24% with £495m Staff Bonuses
NatWest Group reports a 24.4% rise in pre-tax profits to £7.7 billion for 2025, alongside a £495 million staff bonus pool and CEO pay increase to £6.6 million.
NatWest CEO Paul Thwaite Gets Largest Pay Since Fred Goodwin
NatWest CEO Paul Thwaite receives a £6.6m pay package for 2025, the highest since Fred Goodwin's £7.7m in 2006, amid bank privatisation and bonus cap removal.
NatWest Profits Jump 24% to £7.7bn, Bonuses Swell
NatWest Group reports a 24.4% rise in pre-tax profits to £7.7 billion for 2025, with CEO pay up by a third and staff bonuses increasing by 11%.
Goldman Sachs Lawyer Quits Over Epstein Email Ties
Kathy Ruemmler, Goldman Sachs' chief legal officer, has resigned following the disclosure of emails showing a close personal relationship with convicted sex offender Jeffrey Epstein.
Business Coach Warns: 30-Year Mortgage Is a Financial Trap
A business coach reveals the shocking true cost of a 30-year mortgage, showing how interest can double your loan. She calls it a 'trap' and offers tips to reduce payments.
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NS&I Modernisation a 'Disaster' with Costs Hitting £3bn
A parliamentary report condemns NS&I's modernisation programme as a 'full-spectrum disaster', with costs tripling to £3bn and little progress made, exposing taxpayers to high risks.
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