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<p>The Government is committed to improving access to financial services, especially
for those with a characteristic of vulnerability, and regularly engages with the retail
banking sector on this important agenda.</p><p> </p><p>As part of this, the Government
recognises that access to a transactional bank account is key to enabling people to
manage their money on a day-to-day basis effectively, securely and confidently. That
is why the nine largest personal current account providers in the UK are legally required
to offer basic bank accounts to customers who do not have a bank account or who are
not eligible for a bank's standard current account. Basic bank accounts must be fee-free
and do not have an overdraft facility or cheque book, but otherwise offer the same
services as a standard personal current account.</p><p> </p><p>UK banks’ and building
societies’ treatment of their customers is governed by the Financial Conduct Authority
(FCA) in its Principles for Businesses. This includes a general requirement for firms
to provide a prompt, efficient and fair service to all of their customers.</p><p>
</p><p>The FCA’s Vulnerability Guidance outlines the expectations for firms on the
fair treatment of vulnerable customers, such as those with learning disabilities and
special educational needs, setting out a number of best practices. The FCA expects
that firms treat these customers fairly and support them to continue to interact with
financial services in a way that best works for them.</p><p> </p><p>In addition, like
all service providers, banks and building societies are bound under the Equality Act
2010 to make reasonable adjustments, where necessary, in the way they deliver their
services.</p>
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