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Compel UK banks to provide a bank account to legally trading UK businesses

Submitted on Monday 4th March 2019

Published on Tuesday 26th March 2019

Current status: Closed

Closed: Thursday 26th September 2019

Signatures: 21

Tagged with

UK

Petition Action

Compel UK banks to provide a bank account to legally trading UK businesses

Petition Details

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.

Additional Information

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.


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