Petition Require banks to give a specific, contestable reason before closing an account
The law should be changed to ensure that before closing or freezing a customer's account, banks must provide:
1) A valid, specific reason for doing so
and
2) A clear and independent route of appeal.
More details
Banks are currently able to close or freeze accounts without either of the above, which we believe is unaccountable and untransparent.
This situation is open to abuse, as it means banks could conceal the reasons for closure, allowing for something as trivial and discriminatory as the institution's personal dislike of the customer or their background or opinions.
The law should require transparency for banks' actions and a route of appeal in order to help prevent discrimination and denial of service.
At 10,000 signatures...
At 10,000 signatures, government will respond to this petition
At 100,000 signatures...
At 100,000 signatures, this petition will be considered for debate in Parliament