Significant new rules are set to change how banks like Lloyds, HSBC, and NatWest handle account closures, offering customers more protection and clarity.
From 28 April, banks are required to give customers at least 90 days' notice before closing accounts or ending payment services, up from the previous two months. These rules apply to new contracts signed on or after this date and also cover basic personal bank accounts. The updates aim to prevent situations where people or businesses are left without banking services unexpectedly.
