Budget 2010: Bank accounts for all

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Former_MSE_Rose
Former_MSE_Rose Posts: 128 Forumite
edited 24 March 2010 at 1:45PM in Budgeting & bank accounts
This is the discussion thread for the following MSE News Story:

"Banks must do more to offer all customers a basic current account at the very least, the Chancellor has announced."
Read the full story:



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  • blind-as-a-bat_2
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    The British Bankers' Association says in a statement: "Everybody can have a bank account if they want one, unless, and this is rare, the law says they can't, As long as it is with the co-op or barclays if you are or have been bankrupt

    Thought i would make that statemant a little more accurate:cool::D

    Im sure others could add more from the DFW side
    Thats it, i am done, Blind-as-a-Bat has left the forum, for good this time, there is no way I can recover this account, as the password was random, and not recorded, and the email used no longer exits, nor can be recovered to recover the account, goodbye all …………. :(
  • Old_Wrinkly
    Old_Wrinkly Posts: 5,182 Forumite
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    Banks must do more to offer all customers a basic current account at the very least, the Chancellor has announced.
    He says over the next five years one million more people will have access to a current account.

    Yes, that's about all I recall him saying on this matter, too.
    What a waste of space ...
  • glider3560
    glider3560 Posts: 4,115 Forumite
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    Yes, that's about all I recall him saying on this matter, too.
    In the whole budget report (236 pages), this is the only mention:
    3.70 In October 2009 the Government announced that it had met its shared goal with the banks to reduce the number of adults without access to a current account by half. The Government believes that it is possible to make further reductions in the number of adults without access to banking services, potentially by up to half over the next five years, and that one step towards achieving this would be to introduce a new right to open a basic bank account. The Government intends to introduce a new ‘universal service obligation’, giving people the right to a basic bank account under certain conditions and will consult on the details.
  • jaemac
    jaemac Posts: 18 Forumite
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    What if you don't actually want a bank account? I know people who don't and who have been pressured into having one just to make it more convenient for others. Once we are all on the system it makes it easier for 'big brother' to have even more control over our lives.
  • MoneySavingUser
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    jaemac wrote: »
    What if you don't actually want a bank account? I know people who don't and who have been pressured into having one just to make it more convenient for others. Once we are all on the system it makes it easier for 'big brother' to have even more control over our lives.
    so you'd like it to be more inconvenient for others?
  • davidgmmafan
    davidgmmafan Posts: 1,459 Forumite
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    "so you'd like it to be more inconvenient for others?"

    C'mon give the guy (or gal) a break. There are many people who don't like DD's because the companies have too much control. Personally I have no problem with discounts for DD but object to penalties for not paying by DD (ahem Virgin, BT & Sky).

    Who's to say those who don't have a bank account CHOOSE not to because they don't want even the possibility of being hammered by bank charges, and/or chasing things up if there is an error regarding a DD. In my experience you usually have to educate the bank worker about the DD guarantee before you make any progress.
    Mixed Martial Arts is the greatest sport known to mankind and anyone who says it is 'a bar room brawl' has never trained in it and has no idea what they are talking about.
  • JacksterD
    JacksterD Posts: 293 Forumite
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    C'mon give the guy (or gal) a break. There are many people who don't like DD's because the companies have too much control. Personally I have no problem with discounts for DD but object to penalties for not paying by DD (ahem Virgin, BT & Sky).

    Surely there's no difference? Companies who give a discount to those who pay DD are basically imposing a penalty on people not paying by DD.

    As for Darling's announcement, this is great news! It's about time everyone was able to open a bank account and live life in the 21st century!
  • Old_Wrinkly
    Old_Wrinkly Posts: 5,182 Forumite
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    JacksterD wrote: »
    As for Darling's announcement, this is great news!

    Ahem! I think you need to re-read his 'announcement'. He is going to consult.
    Ergo, nothing is going to happen.
  • Teddy198
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    I am going to go bankrupt very soon and I have been trying for months to get a bank account where money can be paid in electronically, direct debits paid out but has no cheque book, overdraft or debit card - isn't that a 'basic account'. The friendly staff smile and say 'oh yes we can do that, here are the forms' but when I read them they are always for a standard bank account and specifically 'not' for people who are bankrupt. I'm still looking.
  • usedandabused
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    The banks still treat people on low income and subprine with utter disdain, that we're all theives and scally's, the process many Banks have in place to deter customers opening a basic account is shocking!

    Even when you ASK for a basic bank account, they are unwilling to assist, I'm disillusioned with the whole banking process, a few odd banks/BS are worth their grain, but not MOST!
    She LEFT me, she LIED, and she made me foot the BILL ! :mad:
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