UK Money App News: July 2026

Four things worth knowing if you run your money through an app this week. The Bank of England kept rates on hold rather than cutting, two current accounts are quietly trimming the rewards you get for using their app, and a household banking brand is about to disappear from your phone.

The base rate stays at 3.75%

The Bank of England held its base rate at 3.75% on 30 July, defying the market bets on a cut that had savers being told to fix fast. The Monetary Policy Committee split 6-3, and the three dissenters wanted a rise to 4.00% rather than a cut, with the committee judging the risk of stronger inflation greater than the risk of weaker inflation. CPI was 2.6% in June, still above the 2% target. For app savers the practical read is that variable and easy-access rates are staying put for now: the top easy-access accounts, including Revolut and LemFi at 5.00% AER, have not moved, so there is no rush to lock away money you might need. Our guide to the best easy-access savings apps shows how the app rates line up. Source: MoneySavingExpert on the 30 July base rate hold.

NatWest and RBS scrap the app-login cashback

From 1 October, NatWest and RBS Reward account holders will no longer earn £1 a month for logging into the mobile banking app. That reward is being removed completely, which cuts the net gain on a standard Reward account from £36 to £24 a year. The £4 monthly Direct Debit reward and the £2 account fee stay the same, and Premier Reward holders lose the same £1 login perk. It is a small sum, but it is a reminder that app-based rewards can be withdrawn with a few weeks’ notice, so it is worth checking whether a switch bonus elsewhere pays more. See our roundup of the best bank switch offers. Source: MoneySavingExpert on the NatWest and RBS reward cut.

Halifax is being folded into Lloyds, and its app will close

Lloyds Banking Group is retiring the Halifax brand and moving customers onto Lloyds systems in stages over the coming months. The key date for app users is 31 October, when the Halifax app and online banking stop working and you will need to use the Lloyds app instead. Sort codes and account numbers stay the same on both current and savings accounts, and the bank says the switch should take only a few clicks with prompts sent through the Halifax app or by email. Debit and credit cards will be reissued as Lloyds-branded over time. If Halifax is your everyday banking app, watch for the migration notice and do not ignore it. Our best banking apps guide covers the main UK alternatives if you would rather move. Source: MoneySavingExpert on the Halifax brand closure.

The Child Trust Fund trap that can invalidate a Junior ISA

A child cannot legally hold both a Child Trust Fund and a Junior ISA at the same time, and parents are being warned that an overlap can force the Junior ISA to be closed. Between 2002 and 2011 HMRC set up roughly 1.7 million Child Trust Funds automatically, so families who later opened a Junior ISA for a child born before 2 January 2011 may have both without realising. One parent found a forgotten £130 Child Trust Fund sitting alongside £55,000 built up in a Junior ISA. Before you open or pay into a Junior ISA in an app, use the free Gov.uk tool to check for an existing Child Trust Fund and transfer it in through your provider. HMRC says tax will not be due in the vast majority of cases, but the admin is worth avoiding. Our best cash ISA apps guide explains how the tax-free wrappers work. Source: MoneySavingExpert on the Child Trust Fund and Junior ISA clash.