Telegraph Money 

The week's most important personal finance news, analysis and expert advice, from pensions and property to investment ideas and savings tips.

The Telegraph take

By Lauren Davidson personal finance editor

We have reported time and again about the failures of banks to protect their customers from fraud and help them recover money lost to scammers.

Now people are discovering they have been denied access to their money with any explanation from their banks. Lee Nowosad, 38, who works in HR, found he was frozen out of all three accounts he held with RBS after his card was declined and he was forced to abandon his weekly shopping.

“I have a pregnant wife at home as well as three children who depend on me,” he said. “I have no access to my money, my wages cannot be paid into my account, my household bills and my rent payments are due and I have no method or money to pay them." Mr Nowosad said he "felt like a criminal".

This is increasingly common. Figures obtained by Telegraph Money show the number of complaints from customers locked out of accounts rose by a fifth since last year. If you find a "red flag" against your account, here's what you need to do.

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You have the last word...

Cortez Cortez said about Premium Bond minimum investments being slashed to 25: " You would be foolish to invest anything less than several thousand pounds in PBs. I know someone who has had 50 since the day they were introduced, and has yet to win a penny."

Mikael Armstrong said about hated pension tax: "Our tax and spend politicians always assume that if a tax is increased, it will be paid and nobody will change their behaviour. These people are idiots."

Michael Barber said about 23,000 TSB customers still waiting for complaints resolution: "I gave up and closed my account."

Contact us: to pose a question to our team of expert reporters, email moneyexpert@telegraph.co.uk. If you'd like a free financial plan, email money@telegraph.co.uk with the subject 'Give me a Money Makeover'.

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