UK banks commit to improving access to basic accounts after FCA finds failings
( July 7, 2026, 07:11 GMT | Official Statement) -- MLex Summary: Nine of the UK’s largest banks and building societies have committed to improve access to basic bank accounts after the Financial Conduct Authority found shortcomings in how they are being offered to financially vulnerable customers. A mystery shopping exercise found that a third of interactions were rated “poor” or “very poor,” with banks often failing to accommodate customers without a fixed address or identification by failing to mention basic accounts. The improvement plans jointly created by the FCA and industry body UK Finance aim to simplify account opening and to improve support in banking services for vulnerable customers.Statement follows....
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