This website uses cookies to improve user experience. By using our website you consent to all cookies in accordance with our Cookie Policy. Read more

NCC: Basic bank account customers "intimidated and unwanted"

19 February 2007
The head of the National Consumer Council (NCC) has accused Britain's banks of making basic account customers "feel intimidated and unwanted", on the eve of announcements of "world class profits" from Britain's leading banks.

"It's high time that the banks' world class profits came with world-class customer service," Ed Mayo stressed, as banks prepared to report profits of more than £40 billion, according to the Guardian.

Barclays, as the first of the 'big five' to report this week, is expected to return profits of over £7 billion, one third higher than last year.

Yet many analysts are predicting an end to free banking, heralded by the announcement from First Direct of fees for customers to fail to pay a certain amount into their account each month.

Calling for "banks with a heart", Mr Mayo underlined the difficulties for elderly people, those with disabilities and people on a low income.

He singled out Barclays for commendation but stressed that basic bank accounts across the board must be easy to open and allow a buffer zone on all penalty charges.

The NCC's comments follow a report from the Liberal Democrats showed that banking profits have doubled in the last debate.

To learn more about current accounts, click here.

track© Adfero Ltd