Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what his Department is taking to support small business owners who have had their NatWest bank accounts suspended or closed after applying for the Coronavirus Business Interruption Loan Scheme.

The Government launched the Coronavirus Business Interruption Loan Scheme (CBILS) to support businesses’ access to finance during the pandemic. As of 24 January, the scheme has supported more than 87,000 businesses access more than £20bn of finance.

Decisions about what products are offered to individual businesses, including business bank accounts, remain commercial decisions for banks and building societies, it would therefore be inappropriate for the Government to intervene in these individual decisions.

There is no requirement in the scheme rules for an applicant to have a business bank account with the lender they apply with. The Government believes any dispute arising between banks and their customers is best resolved by the parties involved. Should individuals be unsatisfied with their bank's response to their complaint, they may wish to consider an approach to the Financial Ombudsman Service (FOS) who provide a free, independent dispute resolution service for bank customers, including eligible small businesses.

Currently there are over 100 accredited lenders offering CBILS, and individuals may wish to consider approaching one of these various lenders to access support.