Banks failing to provide basic bank accounts to bankrupts

According to a recent BBC news article, people going through bankruptcy are finding it extremely difficult to open a basic bank account.  In fact, a Citizens Advice report found that only 2 out of 17 banks allowed the recently bankrupt to open a basic bank account.

Citizens Advice went on to say that there was no legal reason why those who had been made bankrupt should not have access to a basic bank account which has no cheque book and no access to credit but did allow income or benefits in and direct debits out.  In support, the British Banker’s Association said it would work with banks and advice groups to find some common ground.

Read the full article here

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