- January 12, 2018
- Posted by: CIP Journal
- Category: Uncategorized
According to the new UK Government report, Over 900,000 new fee-free basic bank accounts were opened between July 2016 – June 2017, taking the total number of fee-free accounts open to nearly 5 million.
At 30 June 2017, a total of 7,958,930 basic bank accounts were open at designated institutions.
As of 2016, the 9 largest personal current account (PCA) providers in the UK have offered basic bank accounts that are fee-free for standard operations. These 9 bank institutions are:
- Clydesdale and Yorkshire Bank
- Co-operative Bank
- Lloyds Banking Group (including Halifax and Bank of Scotland brands)
- Royal Bank of Scotland (including NatWest and Ulster Bank brands)