This petition was submitted during the 2017–2019 Conservative government
Petition Compel UK banks to provide a bank account to legally trading UK businesses
Despite being an essential component of starting and running a business, bank accounts are granted to businesses entirely at the discretion of the banks. This petition does NOT seek to compel banks to provide credit or free banking. It simply requires bank accounts to be provided at reasonable cost.
Due to the systemic economic dependancy on banking facilities (the need to pay bills and receive payments) it is critical that their provision is not discretionary, but is a legal right. Banks do not have a good record of acting in the interests of customers. The UK has an emerging challenger credit industry and this is set to compete with the banks, however banks often refuse banking facilities to these companies, stifling their growth and restricting competition. Make bank accounts a right.
This petition is closed This petition ran for 6 months