Latest money news: Banks could delay payments under new rules – here’s why --[Reported by Umva mag]

Welcome to Metro’s money blog, where we’re looking at the different ways banks are able to tackle fraudsters who target their customers.

The government has announced new laws to extend the amount of time banks can delay payments if they think there’s something fishy going on.

At the moment, banks need to decide whether payments will be processed or refused by the end of the next working day, but under the new plans they could be stalled by up to 72 hours.

We’ve got all the details about how this might affect you in our live updates below.

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