Banks told to improve access to basic accounts

Summary

People struggling should find it easier to access basic bank accounts, after nine banks committed to improving widespread poor practice identified by the FCA. Nine of the biggest UK banks and building societies are legally mandated to offer basic bank accounts. They exist to serve people who may not otherwise be able to access standard current accounts - providing access to essential services with no fees and no overdraft.A mystery shopping exercise by the FCA found a third of experiences wit...