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<p>The Government takes the firm view that consumers must be able to easily access
clear and transparent information about their accounts with banks and other financial
service companies.</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. The FCA’s Handbook requires firms to identify
particularly vulnerable customers, and to deal with such customers appropriately.
This includes older people, the disabled, and those who do not have access to the
internet. If a customer does not have access to the internet, then the FCA would expect
the customer’s bank to provide or make available paper statements to them instead.</p><p>
</p><p> </p><p> </p><p>Under changes to the Payment Services Regulations (PSRs) which
came into force 13 January 2018 and govern the rules around payment accounts, banks
are required to provide their customers with certain information, including a monthly
statement (so long as there has been a transaction on the account). However, a customer’s
terms and conditions must also include a condition that they can require their monthly
statement to simply be ‘made available’ on a durable medium, for example through a
secure website, rather than in the form of a physical statement.</p>
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