Policy paper

Basic bank accounts: July 2019 to June 2020

The fifth publication of data on the UK basic bank account market.

• From: HM Treasury
• Published: 5 January 2021

This was published under the 2019 to 2022 Johnson Conservative government

Documents

Basic bank accounts: July 2019 to June 2020

PDF, 344 KB, 18 pages

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Details

A basic bank account is a transactional bank account which is fee-free for standard operations. The 9 largest personal current account providers are designated to provide basic bank accounts that comply with the Payment Accounts Regulations 2015 (PARs).

These firms are: Barclays UK, Co-operative Bank, Lloyds Banking Group (including Halifax and Bank of Scotland brands), Nationwide Building Society, NatWest Group (including RBS and Ulster brands), Santander, TSB and Virgin Money UK (formerly CYBG).

Banks have agreed to report data on basic bank accounts to the Treasury for annual publication. This is the fifth publication.

Published 5 January 2021