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1465348

registered interest
date	24/05/2022
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 the Chancellor of the Exchequer, pursuant to the Answer of 24 May 2022 to Question 4565, on Bank Services, which banks are participants in the Current Account Switch Guarantee; and which challenger banks are excluded.
tabling member constituency	West Worcestershire
tabling member printed	Harriett Baldwin
uin	7974
answer	answer is ministerial correction date of answer 31/05/2022 answer text <p>Over 40 UK current account providers are signed-up to the Current Account Switch Service, which covers 99% of the market. The list of participants is set out in full on the Service’s website. The Switch Guarantee is provided by all the Service’s participants. In Q1 2022, 99.8% of switches were completed in the seven working day timescale. Any organisation which meets the eligibility criteria can join the service.</p> answering member constituency Salisbury answering member printed John Glen question first answered 31/05/2022 09:41:06 answering member 4051 label Biography information for John Glen
tabling member	4107 label Biography information for Dame Harriett Baldwin

1464207

registered interest
date	18/05/2022
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 the Chancellor of the Exchequer, what recent assessment he has made of the (a) effectiveness and (b) impact on customers of the current account switch guarantee.
tabling member constituency	West Worcestershire
tabling member printed	Harriett Baldwin
uin	4565
answer	answer is ministerial correction date of answer 24/05/2022 answer text <p>Competition and innovation is at the heart of the Government’s vision for UK financial services. We want our financial services industry to be the most competitive and innovative in the world, delivering greater choice and value for customers.</p><p> </p><p>That’s why the Government established the 7-day Current Account Switch Service (CASS), to make it easier, quicker and more reliable for customers to switch current accounts. The service is free to use, comes with a guarantee to protect customers from financial loss if something goes wrong, and redirects any payments mistakenly sent to the old account, providing further assurance for customers. This means that customers are more able than ever to hold their banks to account by voting with their feet, and that banks are incentivised to work hard to retain their existing customers and attract new ones.</p><p> </p><p><strong> </strong></p><p>The Current Account Switch Service has completed over eight million switches since launch and has processed over 120 million payment redirections. The Service also continues to meet its targets: in Q1 2022 it exceeded its awareness and satisfaction targets at 76% and 90% respectively.</p> answering member constituency Salisbury answering member printed John Glen question first answered 24/05/2022 09:05:02 answering member 4051 label Biography information for John Glen
tabling member	4107 label Biography information for Dame Harriett Baldwin

1461889

registered interest
date	11/05/2022
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 the Chancellor of the Exchequer, what steps the Government is taking to help ensure that open banking is able to benefit as many consumers as possible.
tabling member constituency	Windsor
tabling member printed	Adam Afriyie
uin	678
answer	answer is ministerial correction date of answer 16/05/2022 answer text <p>Open Banking is a great UK success story that has brought significant benefits to the 5.5 million UK consumers and businesses who now use products and services enabled by this technology.</p><p> </p><p>The government recently set out its plan for the future of UK Open Banking in a joint statement with the Competition and Markets Authority (CMA), the Financial Conduct Authority (FCA), and the Payment Systems Regulator (PSR), including a cross-authority committee for oversight of a new entity to succeed the Open Banking Implementation Entity. Through this Joint Authority Oversight Committee the government and regulators will work closely together to maintain the UK’s leadership in Open Banking. The government is seeking to build on the initial success of UK Open Banking to help unlock and realise further benefits for consumers, businesses, and the wider economy. Open Banking should continue to support innovation and greater competition for consumers and businesses.</p> answering member constituency Salisbury answering member printed John Glen question first answered 16/05/2022 13:43:19 answering member 4051 label Biography information for John Glen
tabling member	1586 label Biography information for Adam Afriyie

1461539

registered interest
date	10/05/2022
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 the Chancellor of the Exchequer, what estimate his Department has made of the number of people in the UK who do not have an active bank account.
tabling member constituency	Hendon
tabling member printed	Dr Matthew Offord
uin	207
answer	answer is ministerial correction date of answer 16/05/2022 answer text <p>The Government does not make direct assessments of the number of bank accounts. The Financial Conduct Authority conducts a biennial Financial Lives Survey, which provides a comprehensive insight into the finances of the adult UK population. The latest findings showed that in February 2020, 97.7% of UK adults had a current account or e-money account, with 1.2 million UK adults being ‘unbanked’.</p><p> </p><p>The Government is committed to improving access to financial services and 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’s 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. As of June 2021, there were 7.2 million basic bank accounts open in the UK. The Government continues to work with the banking sector and other key stakeholders to identify and address any potential barriers to accessing bank accounts.</p> answering member constituency Salisbury answering member printed John Glen question first answered 16/05/2022 13:35:06 answering member 4051 label Biography information for John Glen
tabling member	4006 label Biography information for Dr Matthew Offord

1455487

registered interest
date	29/03/2022
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 the Chancellor of the Exchequer, what plans his Department has to bring forward further legislative proposals to protect (a) access to cash and (b) in-person banking services.
tabling member constituency	Hitchin and Harpenden
tabling member printed	Bim Afolami
uin	149346
answer	answer is ministerial correction date of answer 04/04/2022 answer text <p>The Government recognises that cash remains an important part of daily life for millions of people across the UK, and remains committed to legislating to protect access to cash.</p><p> </p><p>From 1 July to 23 September last year, the Government held the Access to Cash Consultation on further proposals for new laws to make sure people only need to travel a reasonable distance to pay in or take out cash. The Government’s proposals intend to support the continued use of cash in people’s daily lives and help to enable local businesses to continue accepting cash by ensuring they can access deposit facilities.</p><p> </p><p>The Government received responses to the consultation from a broad range of respondents, including individuals, businesses, and charities. The Government has carefully considered responses to the consultation and will set out next steps in due course.</p><p> </p><p>More broadly, the government wants to ensure that people have appropriate access to financial services, and recognises the importance of appropriate access to banking. Options for access can be via fixed and mobile bank branches, telephone banking, through digital means such as mobile or online banking, and the Post Office. The Post Office Banking Framework allows 99% of personal banking and 95% of business banking customers to deposit cheques, check their balance and withdraw and deposit cash at 11,500 Post Office branches in the UK.</p><p> </p><p>Following the Government’s commitment to legislate to protect access to cash, firms are working together through the Cash Action Group to develop new initiatives to provide shared services including bank hubs. The Government welcomes the direction set by industry’s commitments at the end of last year and looks forward to seeing what results they deliver in protecting cash facilities for local communities across the UK.</p> answering member constituency Salisbury answering member printed John Glen question first answered 04/04/2022 13:46:13 answering member 4051 label Biography information for John Glen
tabling member	4639 label Biography information for Bim Afolami

1404828

registered interest
date	20/01/2022
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 the Chancellor of the Exchequer, what estimate he has made of the number of people in (a) Coventry North East constituency, (b) Coventry, (c) the West Midlands and (d) England who do not have a bank account.
tabling member constituency	Coventry North East
tabling member printed	Colleen Fletcher
uin	108535
answer	answer is ministerial correction date of answer 25/01/2022 answer text <p>The Government recognises the continued importance of access to banking.</p><p> </p><p>The Financial Conduct Authority conducts a biennial Financial Lives Survey of 16,000 adults which provides a comprehensive insight into the finances of the UK population. The latest findings from the survey were published in February 2021. They showed that in February 2020 1.2 million adults were considered ‘unbanked’, defined as adults without a current account or an alternative e-money account. The Government does not have data broken down by area.</p><p> </p><p>The Government is also committed to improving access to financial services and 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. 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.</p> answering member constituency Salisbury answering member printed John Glen question first answered 25/01/2022 12:49:12 answering member 4051 label Biography information for John Glen
tabling member	4378 label Biography information for Colleen Fletcher

1386375

registered interest
date	08/12/2021
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 the Chancellor of the Exchequer, what steps his Department is taking to help ensure that people have access to banking services.
tabling member constituency	Southport
tabling member printed	Damien Moore
uin	89660
answer	answer is ministerial correction date of answer 14/12/2021 answer text The way consumers and businesses interact with their banking continues to change, bringing significant benefits to those who choose to opt for the convenience, security, and speed of digital payments and banking. However, the Government also recognises that physical access to banking continues to play an important role in many people’s lives.<p> </p><p>Decisions on opening and closing branches are a commercial issue for banks and building societies and the Government does not intervene in these decisions. However, the Government firmly believes that the impact of branch closures should be understood, considered and mitigated where possible so that all customers and businesses continue to have access to banking services.</p><p> </p><p>In May 2017, the largest banks and building societies signed up to the Access to Banking Standard which commits them to ensure customers are well informed about branch closures, the bank’s reasons for closure and options for continued access to banking services. Guidance from the Financial Conduct Authority also ensures firms carefully consider the impact of branch closures on customers’ needs and consider possible alternative access arrangements.</p><p> </p><p>Alternative options for access can be via telephone banking, through digital means, such as mobile or online banking, or via the Post Office. The Post Office Banking Framework allows 99% of personal banking customers and 95% of business to deposit cheques, check their balance and withdraw and deposit cash at 11,500 Post Office branches in the UK.</p> answering member constituency Salisbury answering member printed John Glen question first answered 14/12/2021 09:01:35 answering member 4051 label Biography information for John Glen
tabling member	4669 label Biography information for Damien Moore

1365686

registered interest
date	02/11/2021
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 the Chancellor of the Exchequer, what recent discussions he has had with the Conduct and Markets Authority on the (a) findings and (b) implications for open banking and consumer trust of the Open Banking Limited Independent Investigation report, published on 1 October 2021.
tabling member constituency	Newcastle upon Tyne Central
tabling member printed	Chi Onwurah
uin	68264
answer	answer is ministerial correction date of answer 09/11/2021 answer text <p>The recent independent investigation led by Alison White raised significant issues around the governance and operations of the Open Banking Implementation Entity (OBIE). The Government welcomes the steps being taken by the Competition and Markets Authority and the new OBIE Chair and Trustee, Charlotte Crosswell, to address these issues.</p><p> </p><p>Treasury Ministers and officials have meetings with a wide variety of organisations in the public and private sectors as part of the process of policy development and delivery. Details of ministerial and permanent secretary meetings with external organisations on departmental business are published on a quarterly basis and are available at: <a href="https://www.gov.uk/government/collections/hmt-ministers-meetings-hospitality-gifts-and-overseas-travel" target="_blank">https://www.gov.uk/government/collections/hmt-ministers-meetings-hospitality-gifts-and-overseas-travel</a>.</p> answering member constituency Salisbury answering member printed John Glen question first answered 09/11/2021 14:34:53 answering member 4051 label Biography information for John Glen
tabling member	4124 label Biography information for Chi Onwurah

1348708

registered interest
date	20/07/2021
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 the Chancellor of the Exchequer, what assessment his Department has made on (a) whether HMRC guidance issued in relation to the US Foreign Account Tax Compliance Act (FACTA) complies with GDPR legislation and (b) the proportionality of the application of FACTA for joint accounts where UK nationals are not subject to FACTA rules.
tabling member constituency	Inverness, Nairn, Badenoch and Strathspey
tabling member printed	Drew Hendry
uin	36666
answer	answer is ministerial correction date of answer 26/07/2021 answer text <p>HMRC have assessed that their FATCA guidance is GDPR compliant.</p><p>It is proportionate to report a joint account under FATCA because a US citizen or resident is an account holder. The name and other details of any joint account holder who is not a US citizen or resident are not reportable.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 26/07/2021 13:51:22 answering member 3991 label Biography information for Jesse Norman
tabling member	4467 label Biography information for Drew Hendry

1315729

registered interest
date	18/05/2021
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 the Chancellor of the Exchequer, what recent discussions has he had with (a) bank and card issuers, (b) the Financial Conduct Authority, c) the British Bankers’ Association and (d) the UK Cards Association on (i) subscription traps and (ii) supporting customers to cancel continuous payment authorisations.
tabling member constituency	Arfon
tabling member printed	Hywel Williams
uin	2896
answer	answer is ministerial correction date of answer 26/05/2021 answer text <p>The Government is committed to tackling subscriptions traps and other business practices that harm consumers. To that end, the Government has been working closely with regulators to ensure consumers can easily cancel unwanted subscription contracts and avoid facing unreasonable charges.</p><p> </p><p>Regarding Continuous Payment Authorities (CPAs), the Payment Services Regulations regulate how CPAs are established, and the rights and obligations of payers, payees and payment service providers. In its published guidance on the regulations, the Financial Conduct Authority (FCA) states that consumers have the right to cancel CPAs by contacting their payment service provider at any time before the end of the business day before a payment is due to be made, and to obtain an immediate refund from their payment service provider if any future payments are debited from their account after they have revoked their consent.</p><p /><p>Treasury Ministers and officials have meetings with a wide variety of organisations in the public and private sectors as part of the process of policy development and delivery.</p><p> </p><p>Details of ministerial and permanent secretary meetings with external organisations on departmental business are published on a quarterly basis and are available at: <a href="https://www.gov.uk/government/collections/hmt-ministers-meetings-hospitality-giftsand-overseas-travel" target="_blank">https://www.gov.uk/government/collections/hmt-ministers-meetings-hospitality-giftsand-overseas-travel</a></p> answering member constituency Salisbury answering member printed John Glen question first answered 26/05/2021 11:36:52 answering member 4051 label Biography information for John Glen
tabling member	1397 label Biography information for Hywel Williams