As interest rates rise, savers should be classed as the winners - however, several major banks are still paying less than 1% on some of their savings products.
Bosses at some of the UK biggest banks, Lloyds, HSBC, NatWest and Barclays were due to face questions by the Financial Conduct Authority (FCA) today on the speed it passes on the rate rises to savers.
The banks have been accused of making excess profits by upping mortgage rates alongside the rate rises and keeping saving rates low.
