Question to the HM Treasury:

To ask the Chancellor of the Exchequer, pursuant to the Answer of 15 October 2018 to Question 177328 on Bank Services, what plans his Department has to reduce the number of unbanked people in the UK.

The Government takes financial inclusion very seriously and is working to ensure everyone can have access to useful and affordable financial services, including a bank account.

Under the Payment Accounts Regulations (PAR) 2015, the government has required the nine largest UK current account providers to offer fee-free basic bank accounts to consumers who are either unbanked or who are not eligible for a standard current account.

Basic bank accounts have all the main features of a standard current account, except for an overdraft facility and chequebook, and must be fee-free, even where a standing order or direct debit fails.

In November 2017, the Government also announced the creation of the Financial Inclusion Policy Forum. The Forum’s mission is to ensure that people, regardless of their background or income, have access to useful and affordable financial products and services.

Treasury Ministers and officials have meetings with a wide variety of organisations in the public and private sectors as part of the process of policy development and delivery.

Details of ministerial and permanent secretary meetings with external organisations on departmental business are published on a quarterly basis and are available at:

https://www.gov.uk/government/collections/hmt-ministers-meetings-hospitality-gifts-and-overseas-travel