Basic bank accounts prove a winner

22 May 2006
Basic bank accounts, which are designed to offer a simple and easily understood format for consumers, have been a big hit.

That is the view of industry observers, including Brain Capon, head of media relations at the British Bankers' Association (BBA).

Mr Capon said the simplicity of the accounts had already earned them supporters, particularly for those who might be wary of opening an account.

"Some people are nervous about opening an account," he explained.

With a basic account the complexity and challenges of an account are removed, with help on hand.

"You can talk over what you need and your circumstances," he added. "People should feel comfortable with their finances,"

More than 1.6 million basic bank accounts have been opened since their launch in April 2003.

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