Some easy access savings accounts have simply been withdrawn by banks and building societies altogether.
Banks and building societies are closing branches and increasingly dealing with customers by telephone.
Banks and building societies will be able to borrow, for a fee of 0.25%, over four years.
He is also concerned that not all the banks and building societies are taking part in the scheme.
The chancellor told MPs on Monday that banks and building societies had a duty to treat their customers fairly.
Mr Cliffe said that banks and building societies are being far from co-operative.
These lie idly in banks and building societies and I believe some of those should be put to better use.
"We are currently seeing healthy competition in the savings market, with banks and building societies fighting for funds, " he said.
The sale of packaged accounts by banks and building societies has been a source of concern for the regulator for some time.
Banks and building societies will have to write to customers annually to prompt them to check whether they still qualify for insurance.
Adrian Coles warned that this process would hinder the ability of banks and building societies to lend money to potential home buyers.
Loosening of the traditional distinction between banks and building societies that made mortgage loans helped power a housing bubble in the 1980s, Prof.
It predicts that activity will be boosted by the government's Funding for Lending Scheme, which channels cheap funds to banks and building societies.
The Bank of England has been offering cheap funds to banks and building societies, provided it is then lent to individuals and non-financial companies.
Despite the continued rise in property prices recorded by the Land Registry, some banks and building societies have warned that prices have reached a peak.
Junior cash Isas are available from most banks and building societies.
"It is a chance for banks and building societies to live up to their word and prove that the future of cheques is safe, " she said.
CPP, which sells products such as wallet and card protection through banks and building societies, said it had now been given until 30 September to pay back investors.
The FSA is also considering whether to order banks and building societies to proactively warn people that they are approaching the age limit on insurance in packaged accounts.
The scheme, operating since last August, has been offering cheap funds to banks and building societies, on condition they then lend the money to personal and business customers.
The access to a flow of funds from the Bank of England means that banks and building societies do not need to be so competitive when chasing deposits from savers.
Earlier this year, banks and building societies and even the FOS itself complained they were being deluged with spurious complaints submitted on behalf of customers by claims management companies (CMCs).
Banks and building societies regulated in the UK must make it clear at their branch counters that the FSCS cover is in place for their savers, even if they are not UK residents.
The Bank of England's base rate is still at a record low of 0.5% and many variable rate savings polices on offer from banks and building societies offer less than 1% to their savers.
Banks and building societies have been making swifter-than-predicted progress in repaying the emergency lending they had to take from the Bank of England and the Treasury in 2008 during the height of the banking crisis.
And he welcomes the recent move by the Bank of England to allow banks and building societies to swap potentially risky mortgage debts for secure government bonds to help them operate during the credit squeeze.
The introduction of the UK government's Funding for Lending Scheme, which provides cheaper sources of money for banks and building societies, means that lenders have less of a need to attract savers' deposits as a source of cash.
"All the banks and building societies thought they were going to get their money back when they lent gargantuan sums in the run-up to 2007 - they were clearly wrong then and they are wrong again, " he added.
Mr Geraty said after the changes had been implemented, the company would remain the largest retailer by network size in the area and would "still have more branches open than all of the major banks and building societies combined".
Is it better, is it more proper to leave these moneys idly in the balances of banks and building societies, or is it better to use some of them to make good the pension promise of people who were made to join their pension scheme.
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