Vicky Shaw

The FCA secured commitments from major UK banks to improve how basic bank accounts are offered, after finding that eligible customers were often not informed about them or were directed to unsuitable online applications. Banks agreed to clearer communication, easier access for people without standard identification, and better support for vulnerable customers. UK Finance coordinated broader industry commitments, addressing gaps revealed through a mystery‑shopping review in which a third of customer interactions were rated poor. Basic accounts are highlighted as important tools for financial inclusion, with nearly 900,000 UK adults still unbanked despite high current‑account coverage.