Finance expert Caroline Butler has warned of imminent changes at three of the UK's leading high street banks.
NatWest, Santander, and Barclays will introduce significant updates soon.
Butler is therefore keen for customers to keep abreast of these developments.
In a recent video, she advised: "A lot of changes are going down, which you probably don't know about," highlighting the lack of communication from banks to their customers.
"This is all happening this month, and people aren't sufficiently kept in the loop by banks. So make sure you know what's going on with your bank - check emails, log into your bank and just make sure you're not missing out on anything."
Listen to Frances Haque, our Chief Economist, as she talks about the base rate change announced today. pic.twitter.com/qzAnbxiaen
— Santander UK (@santanderuk) May 8, 2025
Caroline broke down the upcoming changes, providing her expertise and guidance on how to avoid any adverse effects on personal finances.
Natwest
NatWest is set to assume control of Sainsbury's Bank's savings and credit card loans.
Caroline cautioned: "If you have any of those to do with Sainsbury's, things are going to change for you."
NatWest has confirmed the acquisition on their website, stating: "As of 1 May 2025, NatWest became the legal owners of certain personal loans, credit cards and savings accounts. There are no immediate changes to how customers use and access their account(s)."
The banking giant has pledged to work closely with Sainsbury's Bank to guarantee a smooth and secure transition for customers.
Barclays
Caroline highlighted that the bank is "slashing the rate" on its Rainy Day Saver accounts from an impressive 5.12% down to a less lucrative 4.61%.
On their website, Barclays announced: "Interest rates on the Rainy Day Saver are banded. This means you'll earn 4.61% AER/4.52% gross p.a. interest on the first £5,000 of your balance, and 1.00% AER/gross p.a. on your additional balance over £5,000."
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Santander
Caroline pointed out that starting from May 12, the bank plans to discontinue its text alert service - a crucial tool for many clients in managing their finances.
"So if you rely on those alerts for managing your money, then you need to be mindful of that," she warned. "You'll need to switch to their app or start using mobile banking."
Santander adds: "If you've registered for some alerts on a Personal current account or savings account, from 12 May 2025 we'll stop sending them. We're doing this because you can get a more detailed view of your account activity with Mobile or Online Banking."
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