Andy Burnham new bank account rules to hit households with over £10,000 savings

NewsCost Of LivingYour MoneyA major shake-up of bank account rules has been announced09:50, 18 Aug 2026Millions of savers are set to be impacted by a major shake-up of bank account rules.Households may have to review their savings plans when the £20,000 tax-free ISA rate will be cut to £12,000 from April 2027.It means savers aged under 65 will only be able to put up to £12,000 into cash ISAs.READ MORE: Three conditions PIP to be axed for new under plansREAD MORE: Universal Credit households wake up to DWP £555 bonus paymentsPensioners are being protected from the changes and will still be able to take advantage of the existing £20,000 limit.It means working-age couples with over £10,000 savings won't be able to put as much into ISAs.The major benefit of cash ISAs is that interest earned is