UK government to review access to banking services

HM Treasury has announced the launch of an independent review into access to banking, assessing the impact of declining face to face banking services across the UK. This is in light of the shift towards digital banking and ongoing bank branch closures. The review will gather evidence on the real world effects of reduced in person services, identify affected groups and communities (including vulnerable consumers and small businesses), and consider whether further action is required to safeguard access to banking. Its findings and recommendations, expected by October, will inform the government's proposed powers to intervene where necessary to protect access to banking services. The announcement is accompanied by terms of reference which set out the review's scope and objectives.

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