Banks like Natwest, Halifax, Barclays, Nationwide and Santander will be able to keep hold of your money for up to four days after you’ve tried to pay it to someone thanks to new government powers set to be introduced in October.

The Treasury has announced that it is handing new powers to block payments to all banks, stopping people from being able to transfer money for up to four days if the banks suspect that the payment may involve fraud.

The government says the change will help prevent…