Show Search Form

Search Results

registered interest	true false
date	exactly: or between: and
answering body
answering dept id
answering dept short name
answering dept sort name
hansard heading
house id
legislature	pref label
question text
tabling member constituency
tabling member printed
uin
answer	is ministerial correction true false date of answer exactly: or between: and answer text answering member constituency answering member printed grouped question UIN question first answered answering member label
tabling member	label

Search

917665

	registered interest
	date	05/06/2018
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Bank Services
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, how many people were invited to sign up for help to save accounts in (a) January, (b) February, (c) March, (d) April and (e) May 2018.
	tabling member constituency	Oxford East
	tabling member printed	Anneliese Dodds
	uin	150246
	answer	answer is ministerial correction date of answer 11/06/2018 answer text <ol><li><p>The table below shows the number of Help to Save accounts which have been signed up to each month since January 2018. Numbers for May 2018 will not be finalised until the middle of June, and so cannot be provided.</p></li></ol><table><tbody><tr><td colspan="3"><p><strong>Number of people signing up to Help to Save Accounts Since January 2018 (1)</strong></p></td><td><p> </p></td></tr><tr><td><p> </p></td><td><p>Each month</p></td><td><p>Cumulatively</p></td><td><p> </p></td></tr><tr><td><p>January 2018</p></td><td><p>10</p></td><td><p>10</p></td><td><p> </p></td></tr><tr><td><p>February 2018</p></td><td><p>1,540</p></td><td><p>1,550</p></td><td><p> </p></td></tr><tr><td><p>March 2018</p></td><td><p>4,780</p></td><td><p>6,330</p></td><td><p> </p></td></tr><tr><td><p>April 2018</p></td><td><p>10,800</p></td><td><p>17,120</p></td><td><p> </p></td></tr><tr><td colspan="3"><p><strong>(1) </strong>Numbers are represented in single units, so there were 10 people signed up to Help to Save in January, rising to seventeen thousand, one hundred and twenty cumulatively by the end of April. The figures are rounded to the nearest ten.</p></td><td><p> </p></td></tr></tbody></table><ol><li><p>We do not have estimates available on the number of people invited to sign up for a Help to Save account. Customers are being invited to join the trial through the points of contact that tax credits and Universal Credit customers already have with Government, including the HMRC mobile app and Personal Tax Accounts. Once they have been invited, customers are able to share the information they have received about the scheme. We cannot track the number of people who might have entered the scheme through such a referral.</p><p><strong> </strong></p></li></ol> answering member constituency Salisbury answering member printed John Glen grouped question UIN 150247 question first answered 11/06/2018 16:57:33 answering member 4051 label Biography information for John Glen
	tabling member	4657 label Biography information for Anneliese Dodds

917666

	registered interest
	date	05/06/2018
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Bank Services
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, how many people signed up for help to save accounts in (a) January, (b) February, (c) March, (d) April and (e) May 2018.
	tabling member constituency	Oxford East
	tabling member printed	Anneliese Dodds
	uin	150247
	answer	answer is ministerial correction date of answer 11/06/2018 answer text <ol><li><p>The table below shows the number of Help to Save accounts which have been signed up to each month since January 2018. Numbers for May 2018 will not be finalised until the middle of June, and so cannot be provided.</p></li></ol><table><tbody><tr><td colspan="3"><p><strong>Number of people signing up to Help to Save Accounts Since January 2018 (1)</strong></p></td><td><p> </p></td></tr><tr><td><p> </p></td><td><p>Each month</p></td><td><p>Cumulatively</p></td><td><p> </p></td></tr><tr><td><p>January 2018</p></td><td><p>10</p></td><td><p>10</p></td><td><p> </p></td></tr><tr><td><p>February 2018</p></td><td><p>1,540</p></td><td><p>1,550</p></td><td><p> </p></td></tr><tr><td><p>March 2018</p></td><td><p>4,780</p></td><td><p>6,330</p></td><td><p> </p></td></tr><tr><td><p>April 2018</p></td><td><p>10,800</p></td><td><p>17,120</p></td><td><p> </p></td></tr><tr><td colspan="3"><p><strong>(1) </strong>Numbers are represented in single units, so there were 10 people signed up to Help to Save in January, rising to seventeen thousand, one hundred and twenty cumulatively by the end of April. The figures are rounded to the nearest ten.</p></td><td><p> </p></td></tr></tbody></table><ol><li><p>We do not have estimates available on the number of people invited to sign up for a Help to Save account. Customers are being invited to join the trial through the points of contact that tax credits and Universal Credit customers already have with Government, including the HMRC mobile app and Personal Tax Accounts. Once they have been invited, customers are able to share the information they have received about the scheme. We cannot track the number of people who might have entered the scheme through such a referral.</p><p><strong> </strong></p></li></ol> answering member constituency Salisbury answering member printed John Glen grouped question UIN 150246 question first answered 11/06/2018 16:57:33 answering member 4051 label Biography information for John Glen
	tabling member	4657 label Biography information for Anneliese Dodds

994717

	registered interest
	date	25/10/2018
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Bank Services
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what assessment they have made of the future of universal banking in the UK.
	tabling member printed	Lord Kennedy of Southwark
	uin	HL11033
	answer	answer is ministerial correction date of answer 08/11/2018 answer text <p>Financial entities that wish to operate as universal banks are subject to the 2012 Financial Services (Banking Reform) Act. The Act requires large UK banks with retail deposits totaling more than £25 billion to ring-fence the deposits of individuals and small businesses from other activities within their groups, such as investment and international banking. By insulating these core banking services in a separate legal entity, ring-fencing will support continuity of provision of vital services to the economy if there are shocks originating elsewhere in the group and the global financial system. It will also make banks that provide these essential services simpler and more resolvable and therefore prevent the costs of failing banks falling on taxpayers. This restructuring was successfully completed by all UK banks within scope in the summer of 2018 and the regime will come into force in January 2019.</p><p> </p><p>Ring-fencing has been part of the Government’s package of banking reforms since 2010, designed to deliver a stable, sustainable and competitive banking system so banks will be better placed to meet their core purpose of lending to the real economy and contributing to economic growth. As part of this strategy, competition and innovation is at the heart of the Government’s vision for UK financial services to deliver greater choice and value for all.</p><p> </p> answering member printed Lord Bates question first answered 08/11/2018 14:10:18 answering member 1091 label Biography information for Lord Bates
	tabling member	4153 label Biography information for Lord Kennedy of Southwark

100316

	registered interest
	date	22/10/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Bank Services
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, how much his Department spent on bank transfer transactions for tax credits and tax refunds in the last financial year.
	tabling member constituency	Redcar
	tabling member printed	Ian Swales
	uin	211413
	answer	answer is ministerial correction date of answer 18/11/2014 answer text <p>Her Majesty’s Revenue and Customs (HMRC) includes information on bank charges in its annual report and accounts (Page 138 Other Administration Costs and Page 140 Programme Costs):</p><p> </p><p> </p><p> </p><p><a href="https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/330670/HMRC-annual-report-2013-14.pdf" target="_blank">https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/330670/HMRC-annual-report-2013-14.pdf</a></p><p> </p> answering member constituency Witham answering member printed Priti Patel question first answered 18/11/2014 15:31:39 answering member 4066 label Biography information for Priti Patel
	tabling member	4045 label Biography information for Ian Swales

170091

	registered interest
	date	12/12/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Bank Services
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, if he will make an assessment of the potential costs to the banking sector of changing the current seven-day period for switching bank accounts to a five-day period.
	tabling member constituency	Kilmarnock and Loudoun
	tabling member printed	Cathy Jamieson
	uin	218550
	answer	answer is ministerial correction date of answer 17/12/2014 answer text <p>The Chancellor’s Autumn Statement confirmed that the Government has asked the Financial Conduct Authority (FCA) to look at the question of a 5-day switching period, as part of its current review of the switching service, and to advise on this question before Budget 2015.</p><p> </p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom question first answered 17/12/2014 17:13:38 answering member 4117 label Biography information for Andrea Leadsom
	tabling member	4011 label Biography information for Cathy Jamieson

857832

	registered interest
	date	08/03/2018
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Bank Services
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what assessment he has made of the progress made by the banking sector on meeting the needs of vulnerable consumers.
	tabling member constituency	Belfast South
	tabling member printed	Emma Little Pengelly
	uin	131733
	answer	answer is ministerial correction date of answer 13/03/2018 answer text <p>The Government believes it is vitally important that the banking sector meets the needs of vulnerable consumers. The nine largest personal current account providers in the UK are legally required to offer fee-free basic bank accounts to customers who do not have a bank account or who are ineligible for a bank’s standard current account. The Treasury’s December 2017 publication shows that in total there are nearly 8 million basic bank accounts open in the UK, and that just over 900,000 new accounts were opened between July 2016 and June 2017.</p><p> </p><p>The Government has also given the Financial Conduct Authority (FCA), the independent conduct regulator for the financial services sector, a statutory objective to protect consumers. The FCA continually assesses whether the banks they regulate are meeting the rules regarding the needs of vulnerable consumers.</p><p> </p><p>UK banks’ treatment of their customers is governed by the FCA in its Principles for Businesses, as well as specific requirements in its Handbook. The FCA's Principles require firms to conduct their business with due skill, care and diligence, and to pay due regard to the interests of its customers and treat them fairly.</p><p> </p><p>Understanding vulnerability is central to how the FCA makes decisions. At the end of last year, the FCA published its ‘Approach to Consumers’ Paper, which details how the FCA measures the effects of its actions on consumers, particularly with respect to access and vulnerability. This was a consultation and the FCA plans to publish its Final Approach to Consumers Paper later this year.</p><p> </p> answering member constituency Salisbury answering member printed John Glen question first answered 13/03/2018 13:50:27 answering member 4051 label Biography information for John Glen
	tabling member	4611 label Biography information for Emma Little Pengelly

895005

	registered interest
	date	30/04/2018
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Bank Services
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what assessment he has made of the progress made by the banking sector in ensuring that the needs of vulnerable consumers are met.
	tabling member constituency	Cardiff Central
	tabling member printed	Jo Stevens
	uin	139526
	answer	answer is ministerial correction date of answer 03/05/2018 answer text <p>The Government believes it is vitally important that the banking sector meets the needs of vulnerable consumers.</p><p> </p><p>The Government has given the Financial Conduct Authority (FCA), the independent conduct regulator for the financial services sector, a statutory objective to protect consumers. The FCA continually assess whether the banks they regulate are meeting the rules regarding the needs of vulnerable consumers.</p><p> </p><p>UK banks’ treatment of their customers is governed by the FCA in its Principles for Businesses, as well as specific requirements in its Handbook. The FCA's Principles require firms to conduct their business with due skill, care and diligence, and to pay due regard to the interests of its customers and treat them fairly.</p><p> </p><p>The nine largest personal current account providers in the UK are legally required to offer fee-free basic bank accounts to customers who do not have a bank account or who are ineligible for a bank’s standard current account. The Treasury’s December 2017 publication shows that in total there are nearly 8 million basic bank accounts open in the UK, and that just over 900,000 new accounts were opened between July 2016 and June 2017.</p><p> </p> answering member constituency Salisbury answering member printed John Glen question first answered 03/05/2018 12:55:08 answering member 4051 label Biography information for John Glen
	tabling member	4425 label Biography information for Jo Stevens

176719

	registered interest
	date	29/01/2015
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Bank Services
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what recent assessment he has made of (a) levels of bank account switching by customers, (b) trends in bank account switching in the last three years, (c) the average time it takes for customers to switch banks and (d) the process for switching banks and customers' perceptions of the ease or difficulty of so doing.
	tabling member constituency	Esher and Walton
	tabling member printed	Mr Dominic Raab
	uin	222656
	answer	answer is ministerial correction date of answer 03/02/2015 answer text <p>The Government charged the UK banking industry with delivering a new Current Account Switch Service to make it simpler, safer, and faster to switch current account providers. The new service launched in September 2013, and so far has had a positive impact with switching levels increasing by 22 per cent in its first year, compared to the previous year.</p><p> </p><p> </p><p> </p><p>The Payments Council publish a “switching dashboard” quarterly, which is available on their website and includes information on awareness, confidence, service performance, and switching levels.</p><p> </p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom question first answered 03/02/2015 10:14:26 answering member 4117 label Biography information for Andrea Leadsom
	tabling member	4007 label Biography information for Dominic Raab

947541

	registered interest
	date	24/07/2018
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Bank Services
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government how many working people in the UK they estimate do not have bank accounts; and what steps they are taking to assist such people; and what particular measures they are taking relating to those of this total who are homeless or sleeping rough or may previously have been such.
	tabling member printed	Lord Bird
	uin	HL9833
	answer	answer is ministerial correction date of answer 02/08/2018 answer text <p>The Government does not make estimates of the number of working people who do not have access to bank accounts. However, in 2017, the FCA published the results of the Financial Lives Survey which estimated that 1.3 million UK adults (3% of the UK adult population) were unbanked, i.e. have no current account or alternative e-money account. The Financial Lives Survey report contains further information on the characteristics of the unbanked and their preferences to have a bank account. The FCA intend to repeat the Financial Lives Survey on a regular basis in future.</p><p> </p><p>The Government takes financial inclusion very seriously and is working to ensure everyone can have access to financial services. With regards to those who are sleeping rough or are homeless, the Government recognises that it can be difficult for such individuals to access bank accounts due to their lack of permanent address.</p><p> </p><p>Under the Payment Accounts Regulations 2015, the 9 largest UK current account providers are required to offer fee-free basic bank accounts to consumers who are either unbanked or who are not eligible for a standard current account. Regulation 23 specifically states that consumers with no fixed address are to be considered eligible and in Regulation 18 specifies that firms must not discriminate against consumers by reason of their place of residence.</p><p> </p><p>As these accounts are particularly suitable for more vulnerable customers, Government encourages the banks who provide them to be flexible with identification and verification checks, within the remit of the Joint Money Laundering Steering Group (JMLSG) guidance. The JMLSG guidance encourages firms to consider a wide range of evidence to prove identification and to act reasonably where customers do not have more conventional forms of identification.</p><p> </p> answering member printed Lord Bates question first answered 02/08/2018 12:05:10 answering member 1091 label Biography information for Lord Bates
	tabling member	4564 label Biography information for Lord Bird

873577

	registered interest
	date	28/03/2018
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Bank Services
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what steps the Government is taking to promote community banking facilities.
	tabling member constituency	Clwyd South
	tabling member printed	Susan Elan Jones
	uin	134691
	answer	answer is ministerial correction date of answer 18/04/2018 answer text <p>The Government is committed to creating the right regulatory environment that allows banks to enter and expand within the market, and serve customers and communities effectively. The Financial Conduct Authority and the Prudential Regulation Authority established the New Bank Start-up Unit to help prospective new banks enter the market and through the early days of authorisation. In addition, the Government created the Payment Systems Regulator to ensure all banks can access payment systems on fair and equal terms.</p><p> </p><p>The Government supports credit unions, which provide vital banking services to financially under-served communities. To help expand credit unions’ reach, at Autumn Budget 2017 the Government announced that where a credit union’s membership conditions are based on a local area, a credit union will be able to increase the number of potential members it can have from 2 to 3 million. The legislation to make this change was laid in November 2017 and comes into force in April 2018.</p><p> </p><p>The Government also supports the provision of over the counter banking services via the Post Office. 99% of banks’ personal and 95% of banks’ business customers are now able to withdraw cash, deposit cash and cheques, and make balance enquiries at a Post Office counter via its network of 11,600 branches. At Autumn Budget 2017, my predecessor wrote to the Post Office and UK Finance to ask them to raise public awareness of the banking services available at the Post Office for individuals and small and medium-sized enterprises. The Government looks forward to seeing both parties implement their plans for doing this over the year to come.</p> answering member constituency Salisbury answering member printed John Glen question first answered 18/04/2018 13:57:52 answering member 4051 label Biography information for John Glen
	tabling member	3956 label Biography information for Susan Elan Jones