piggy bankFee free bank accounts – a great move for financial inclusion

The UK’s 9 biggest retail banks are now providing completely free basic bank accounts to over 4.1 million customers following a government led initiative to boost financial inclusion and ensure universal access to fee-free bank accounts.

Thanks to the government’s 2014 basic bank accounts agreement, consumers who might have previously been at risk of running up overdrafts and big bank charges can now open basic bank accounts that have all the functionality of a standard bank account but are fee-free, ensuring they can avoid charges for things like failed payments.

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