Basic bank account holders should have access to free to use cash machines, says Which?

02 December 2011

In response to Chairman of the Treasury Select Committee, Andrew Tyrie MP, calling on Lloyds TSB and the Royal Bank of Scotland (RBS) to reconsider recent moves restricting access to cash machines for their basic bank customers, Richard Lloyd, Which? executive director said:

"It's a disgrace that the tax-payer owned RBS has gone further than any other bank and denied 1.1 million of its customers access to the majority of free cash machines. This will inconvenience basic bank account holders and lead to extra costs and hassle if they have to travel further to obtain cash. Even worse, these changes could force them to stop using their account and go back to managing all of their money in cash – imposing extra costs at a time when they can least afford it.

"RBS should reverse its decision and, with the other banks, commit to offering universal cash machine access for basic bank account holders."

Notes to Editor

Basic bank accounts were developed to provide those who had previously been outside the banking system with access to a simple account without an overdraft that they could use to receive their wages, withdraw cash and pay bills.