Nearly 5 million free bank accounts opened in the UK

According to the new UK Government report, Over 900,000 new fee-free basic bank accounts were opened between July 2016 РJune 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:

  • Barclays
  • Clydesdale and Yorkshire Bank
  • Co-operative Bank
  • HSBC
  • Lloyds Banking Group (including Halifax and Bank of Scotland brands)
  • Nationwide
  • Royal Bank of Scotland (including NatWest and Ulster Bank brands)
  • Santander
  • TSB

Basic Bank accounts

 

Sources



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