The cost of living crisis is showing no signs of easing up anytime soon, with a number of money changes set to take place throughout September.
A number of financial changes will be implemented this September. These shifts could directly impact your financial plans for the remainder of the year, so it’s crucial to keep updated on developments.
The way you manage your banking needs may also be subject to change due to a wave of closures set to sweep across the nation. A key decision from the Bank of England later on in September could also directly affect your finances if you have a loan or mortgage.
First Direct to introduce major change – September 1
From September 1, First Direct customers will no longer receive paper bank statements for their savings accounts. Consequently, customers will be required to use the company’s banking app or online banking service. Bear in mind, this only impacts customers with a savings account and not those with a standard current account.
Free childcare made available – September 1
Eligible parents with children aged nine months to four years can avail of 30 hours of free childcare from the beginning of September. However, if parents haven’t applied yet, they only have until August 31 to submit an application and qualify for the scheme for 2025/26. It is estimated that parents who utilise the full 30 hours of free childcare could save as much as £7,500 a year.
Several bank branches to close – September 1
Several major bank branches will close on September 1. Some of the affected banks include NatWest, Halifax, and Lloyds Bank. A comprehensive list of closures and dates can be found below.
Natwest
- Cwmbran – September 1
- Wisbech – September 1
- Leicester – September 2
- Rayleigh – September 2
- Halesowen – September 3
- Bristol – September 4
- Llangefni – September 4
- Ely – September 10
- Leicester – September 10
- Birmingham – September 11
- Cardiff – September 11
- Luton – September 15
- Northampton – September 15
- Birmingham – September 16
- Cardiff – September 16
- Cirencester – September 17
- Hinckley – September 17
- Wickford – September 18
- Willerby – September 22
- Abingdon – September 24
- Newmarket – September 24
- Birmingham – September 25
- Yate – September 25
- Melton Mowbray – September 29
- Sudbury – September 30
- Bicester – September 30
Halifax
- Cwmbran – September 1
- Wisbech – September 1
- Leicester – September 2
- Rayleigh – September 2
- Halesowen – September 3
- Bristol – September 4
- Llangefni – September 4
- Ely – September 10
- Leicester – September 10
- Birmingham – September 11
- Cardiff – September 11
- Luton – September 15
- Northampton – September 15
- Birmingham – September 16
- Cardiff – September 16
- Cirencester – September 17
- Hinckley – September 17
- Wickford – September 18
- Willerby – September 22
- Abingdon – September 24
- Newmarket – September 24
- Birmingham – September 25
- Yate – September 25
- Melton Mowbray – September 29
- Sudbury – September 30
- Bicester – September 30
Lloyds bank
- Hornchurch – September 11
Latest inflation figures – September 17
Inflation figures for August will be released in mid-September. The Bank of England currently forecasts that inflation will continue to rise for the remainder of the year, with a peak of 4% expected in September.
Bank of England base rate announcement – September 18
The Bank of England is due to announce its latest review of the interest rate next month. Whatever figure they decide on will serve as a guide for a number of interest rates used by banks and lenders.
This implies that a higher base rate could result in increased payments on your mortgages and loans. Previously, the Bank had agreed to reduce the base rate from 4.25% to 4%.