There'll be a new bank account switching service in September

Five questions answered.

The Payments Council has announced a new bank account switching service that will start on the 16 September. We answer five questions on the new scheme. 

What does the new service do exactly?

It enables current account holders to switch banks within seven days instead of up to 30 days. 

As of Monday 16th September, 33 bank and building societies brands – accounting for virtually 100 per cent of the current account marketplace – will deliver the new switching service for consumers, small charities and small businesses.

How will it work exactly?

After the start date, when switching accounts the new provider will arrange for all direct debits and standing orders to be redirected to the new account. This system will stay in place for 13 months so no one off payments are missed.

Payments going in will also be redirected.

Why is the Payments Council launching this service?

It is being launched as a recommendation from the Independent Commission on Banking two years ago. The commission said that people only changed bank accounts once every 26 years on average.

As a result, the so-called "big four" High Street banks - Lloyds Banking Group, Barclays, Royal Bank of Scotland and HSBC - retain control over the market.

If it’s easier to switch, will banks be offering more incentives?

Yes! Two banks are already offering customers a cash incentive of up to £125 to switch their current accounts to them.

Will this new service provide a boost for smaller banks?

That’s one of the aims. Small banks taking place include the Reliance Bank, which is part of the Salvation Army – it has just one branch. Plus the Cumberland Building Society, which has 34 branches based across Cumbria and the north-west of England.

Payments Council has announced a new bank account switching service. Photograph: Getty Images

Heidi Vella is a features writer for Nridigital.com

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Labour to strip "abusive" registered supporters of their vote in the leadership contest

The party is asking members to report intimidating behaviour - but is vague about what this entails. 

Labour already considered blocking social media users who describe others as "scab" and "scum" from applying to vote. Now it is asking members to report abuse directly - and the punishment is equally harsh. 

Registered and affiliated supporters will lose their vote if found to be engaging in abusive behaviour, while full members could be suspended. 

Labour general secretary Iain McNicol said: “The Labour Party should be the home of lively debate, of new ideas and of campaigns to change society.

“However, for a fair debate to take place, people must be able to air their views in an atmosphere of respect. They shouldn’t be shouted down, they shouldn’t be intimidated and they shouldn’t be abused, either in meetings or online.

“Put plainly, there is simply too much of it taking place and it needs to stop."

Anyone who comes across abusive behaviour is being encouraged to email validation@labour.org.uk.

Since the bulk of Labour MPs decided to oppose Labour leader Jeremy Corbyn, supporters of both camps have traded insults on social media and at constituency Labour party gatherings, leading the party to suspend most meetings until after the election. 

In a more ominous sign of intimidation, a brick was thrown through the window of Corbyn challenger Angela Eagle's constituency office. 

McNicol said condemning such "appalling" behaviour was meaningless unless backed up by action: “I want to be clear, if you are a member and you engage in abusive behaviour towards other members it will be investigated and you could be suspended while that investigation is carried out. 

“If you are a registered supporter or affiliated supporter and you engage in abusive behaviour you will not get a vote in this leadership election."

What does abusive behaviour actually mean?

The question many irate social media users will be asking is, what do you mean by abusive? 

A leaked report from Labour's National Executive Committee condemned the word "traitor" as well as "scum" and "scab". A Labour spokeswoman directed The Staggers to the Labour website's leadership election page, but this merely stated that "any racist, abusive or foul language or behaviour at meetings, on social media or in any other context" will be dealt with. 

But with emotions running high, and trust already so low between rival supporters, such vague language is going to provide little confidence in the election process.