Charity happy with bank account progress

A financial charity has said it is good to see that progress has been made in reducing the number of Britons without access to a bank account.

Having set out to halve the number of people without access to such facilities in 2004, the government and the Financial Inclusion Taskforce has seen the number of adults in the UK in this situation drop from two million to 900,000.

Spokesperson for the Money Advice Trust Beccy Boden-Wilks remarked that this was “positive” news, adding: “It is really important to have access to affordable banking. Obviously, it is a better way of managing your money.”

She noted that this can help people on limited budgets save money, as paying bills by means such as direct debits can be cheaper.

A number of banks sought to introduce accounts with basic facilities for those who might not otherwise be able to access these, such as the Co-operative Bank’s Cashminder account.

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